Myriads of families and individuals have benefited from the Portugal golden visa since it was established in 2012. This makes it one of the most sought after visa programs in Europe. Interested individuals acquire the Golden Visa by investing in Portugal.
Of the investment options provided, real estate is the most popular. It has brought in billions of Euros into the country. This Portugal Golden Visa 2020 Guide aims at showing you how you can also obtain it.
What Are Main benefits Golden Visa?
- You are able to travel freely across the 27 Schengen countries
- You are eligible for the Portuguese Passport as well as EU residency after five years
- You only have to invest €500,000 in real estate to qualify
- One application is enough for you and your immediate family to qualify
- The process takes 4-6 months to access residency cards that allow you to reside, study and work in Portugal
- You are allowed to invest in the Golden Visa Qualified Properties
- You can stay in the country during and after the process of application
The Golden Visa Program
This is a government-approved scheme that allows non-EU, Portugal and EEA individuals to acquire residency status in Portugal. Their families are also allowed to live, work and study in Portugal. They also enjoy the legal rights that come with the residency permit.
Interested individuals must choose among several investment opportunities under the Golden Visa laws. They must also maintain those investments for at least five years in order to be eligible for permanent residency.
The Application Process
- Visit the country and buy property worth at least €500,000). Get a Portuguese tax number (NIF).
- Open a bank account, complete and file the required documents
- Submit all documents online.
- Hand over your proof of transfer of funds as well as a declaration of compliance with the requirements of the investment visa.
- Book an appointment with SEF (immigration authorities) for approval.
- Get your temporary residency card (1-month post-approval)
- Fulfill all other requirements if any.
The documents to be submitted include a valid passport; medical insurance; property documentation; tax numbers from Portugal and your country of residence; and a criminal record. Once these are submitted, you have a 4-6 month window to wait.