One of the most favored residence by investment initiatives in Europe is Portugal’s Golden Visa program. Since the program’s launch in October 2012, over 12,000 candidates have submitted Golden Visa applications. With these programs, investors from non-EU countries can live and work in the EU, and eventually, they even have the chance to obtain EU citizenship.
Contents
- 1 What Is Portugal Golden Visa?
- 2 Benefits: What Are the Benefits of the Portugal Golden Visa?
- 3 Living, Working, and Studying in Portugal
- 4 Latest Updates on the Portugal Golden Visa Program
- 5 Available Investment Pathways for Golden Visa Portugal
- 6 About the Golden Visa Application
- 7 Additional Information on Residency Requirements and Renewals
What Is Portugal Golden Visa?
For non-EU nationals, the Portugal Golden Visa program, commonly referred to as the residence permit for investment activity (ARI), is a program that gives the opportunity to obtain Portugal residency by investment.
Portugal has a long coastline, pleasant temperatures, friendly locals, and delectable food. Even better, it offers this excellent standard of living at a reasonably priced cost of living. Portugal is a very appealing place for foreign investors to invest in and gain the right to live, work, and study there because of these qualities.
While considering residency options with Portugal’s Golden Visa program, it’s also practical to think about storage solutions, such as storage units Edmonton, especially during the transition period. Storage facilities can be invaluable for securing personal belongings as you navigate visa processing and prepare for a potential relocation. This way, you can manage your possessions more efficiently while awaiting approval or finalizing your move.
Benefits: What Are the Benefits of the Portugal Golden Visa?
Portugal has one of the lowest investment requirements in Europe: a minimum investment of €250,000 is required to be eligible for residency. Furthermore, you just need to spend an average of seven days a year in Portugal in order to keep your residency status; you are not needed to relocate there. It’s one of the quickest routes to European citizenship since, after five years, you may apply for Portuguese citizenship. Upon obtaining Portugal citizenship by investment, one is eligible to enter 191 countries without a visa.
Living, Working, and Studying in Portugal
It is possible to live, work, and study in Portugal with a Portuguese Golden Visa. Health insurance is necessary if the residency is permanent. There is still complete accessibility to all public services, including healthcare and education. State schools teach the Portuguese curriculum, but there are also many of private international schools that follow the US and UK systems. The visa’s accompanying work permit enables employment anywhere in Portugal and the ability to start and run a business.
Latest Updates on the Portugal Golden Visa Program
On October 6, 2023, the Portuguese government enacted the “Mais Habitação Law,” which significantly altered the Golden Visa program. The ability to invest in real estate or related funds in order to qualify for a Portugal Golden Visa was eliminated by this new rule.
Available Investment Pathways for Golden Visa Portugal
It is possible to apply for the Portugal Golden Visa program through the following investment options:
- Capital transfers of up to €500,000 in qualifying venture capital funds (excluding real estate investments or affiliations)
- Creation of ten jobs or more
- Capital transfers of up to €500,000 in research activities carried out by public or private scientific research institutions
- Capital transfers of up to €250,000 in support of artistic production, the preservation or restoration of national cultural heritage
- Capital transfers of up to €500,000 for forming a commercial company based in the country and creating five permanent jobs.
About the Golden Visa Application
The Portuguese immigration authorities gave AIMA Portugal ownership of the defunct SEF immigration office. The goal was to shorten the application waiting period since AIMA, the new immigration office, is better equipped to handle applications within the anticipated timeframe. Applications for the Portugal Golden Visa are anticipated to be handled promptly, according the most recent notice.
Additional Information on Residency Requirements and Renewals
During the two years that the Golden Visa residence card is valid, applicants must spend a total of fourteen days in Portugal. Golden Visa holders are required to renew their resident permit by presenting updated papers prior to the expiration of the initial two-year period.
Additionally, the two-year validity of the renewed Golden Visa residence visa will apply. During the second two-year period, applicants must stay in Portugal for a minimum of fourteen more days. Following this, the residency permit may be extended for a further two years, although this will need staying in the nation for an additional fourteen days.
