Portugal created a simple and straightforward way for non-nationals to obtain residence permits in the country. If you are interested in living in Portugal and are looking for investment opportunities, then you qualify. This article details how to obtain a golden visa in Portugal.
Firstly, you do not qualify if you are a citizen of Switzerland or any of the EU or EEA countries. All you need is to register your stay in the country. As a non-citizen of the aforementioned countries, you will need to invest a set amount of money in Portugal.
Golden Visa Requirements
- Transfer at least €1 million into Portugal in capital
- Create at least 10 employment opportunities in the country
- Buy property worth not less than €500,000 in Portugal
- Invest in real estate in Portuguese urban regeneration areas at least 30 years old worth at least €350,000
- Put up not less than €350,000 in scientific research in the country
- Invest €250,000 or more in the local arts and culture
- Invest not less than €500,000 Portugal’s SMEs
Once you have chosen your investment option, your visa will be eligible for an investment visa. This visa covers you if you own shares in a company set up in Portugal or another EU nation. You must have a stable residence and meet all your tax obligations.
To qualify for permanent residence, you must maintain your investment for a minimum of five years.
Why the Golden Visa?
The idea of the golden visa was conceived to encourage foreign investment in Portugal. In exchange for your investment, you are given the necessary documentation to live and work in Portugal. This scheme not only grants you residency but also provides wonderful investment opportunities.
The visa grants you a temporary residence permit for the first year. Upon renewal, the permit is extended to two years. After five years, you qualify to apply for permanent residence and after six, you can apply for citizenship.
Once you have your visa, you will enjoy some legal rights in the country. For instance, you will be able to live, work and invest in the country. Moreover, your immediate family also qualifies to live and work in the country.