Portuguese Citizenship by Investment Program

Portugal's golden visa is officially called "ARI" ("Autorização de Residência para Actividade de Investimento" and is the most successful investment residence program in Europe.

Since 2012, according to this plan, people who is non European Union, European Economic Area (EEA) or Switzerland can make eligible investments in Portugal and obtain a Portuguese residence permit for themselves and their family members.

It turns out that the Portugal’s Golden Visa Program is one of the most popular programs in Europe. Compared with other EU citizenship programs, obtaining a golden visa in Portugal is easier, faster and cheaper.

一、Minimum investment for Golden Visa

The plan usually requires an investment of at least EUR250,000 and you can choose from a range of investment plans. Most investors choose real estate investment options (we will list the options below).

One of the main advantages of the Portuguese "Golden Visa" is that its "stay requirements" are very low. In order to maintain your Golden Visa residency, you only need to spend 7 days in Portugal for the first year (continuous or non-consecutive) and 14 days in subsequent years (consecutive or non-consecutive). This program is particularly suitable if you do not intend to live in Portugal permanently, but want to obtain EU resident status and ultimately obtain the benefits of citizenship.

Under the program, applicants can obtain golden visa residency through various investment options. However, the most popular option is to buy a property worth at least 500,000 euros, or if the property has been used for more than 30 years, 350,000 euros to encourage urban regeneration. So far, most of the 7,960 investors participating in the plan are from China.

While applying for yourself, you can apply for a golden visa for the following family members:

Ø  Spouse or legal partner

Ø  Children under 18

Ø  Full-time students under the age of 26

Ø  Both spouse and applicant’s parents, if they are over 66 years old (or 55 years old and have dependent)

Ø  Brothers and sisters of spouse or legal partner under the age of 18

二、 What are the requirements for the Portuguese Golden Visa?

1. Maintain a qualified investment for at least five years;

2. Stay in Portugal for at least 7 days in the first year, and then no less than 14 days every two years (this is called a residence requirement) ; and

3. No criminal record.

With a Portuguese residence visa, you need to renew your card in the first and third year, and stay in Portugal for a few days in the following order each year:

In the first year, you must stay in Portugal for at least 7 days;  and

From the second to the fifth year, you must stay in Portugal for at least 14 days in every two years (regardless of continuous or not). 

三、 What are the investment options for the Golden Visa in Portugal?

The investment must be made before applying for the Golden Visa.The following is a complete list of eligible investments:

Fund transfer

Transfer at least ONE million euros to Portugal 

Create 10 full-time jobs

Create 10 new full-time jobs in the Portuguese business in the form of a single member limited company. (If you are in a low-density area, reduce to 8 positions);

Invest 500,000 euros in real estate

Real estate investment of any type, anywhere in Portugal is at least 500,000 Euros. (If it is located in a low-density area, it will be reduced to 400,000 euros);

Investment real estate restoration

Real estate and its restoration, investment in eligible real estate over 30 years or located in the designated area of urban restoration, and the purchase price of the real estate plus the restoration work contract with a value of at least 350,000 euros excluding VAT. (If it is located in a low-density area, it will be reduced to 280,000 euros).

Invest in National Heritage

Invest at least 250,000 Euros to protect National Heritage, Art and Culture;

Research Investment

The investment in research conducted by accredited institutions is at least 350,000 Euros, which are part of the national science and technology system;

Invest in existing business

Invest in an existing Portuguese registered business, or at least 350,000 euros, to register or increase share capital and create at least 5 full-time permanent jobs for at least three years; 

Invest in Private Equity Funds

You can make a minimum of 350,000 Euro Golden Visa investment in private equity funds. For some people, this may be a more convenient option because it avoids the trouble of finding property and subsequent management.

Latest news: The Portuguese government recently promised to review the golden visa application process with the goal of shifting investment from the real estate market to creating job opportunities. So far, 90% of golden visa investments have entered the real estate market, and only 17 of the 8,000 investors have chosen to invest in companies.

四. Timetable of the Portuguese Golden Visa Process

1. Visit Portugal and choose any property of interest;

2. Prepare the required documents to be collected from the property owner;

3. Review the reservation deposit agreement;

4. Obtain a Portuguese tax number and open a bank account;

5. Transfer the required investment amount to your Portuguese bank account (items 1-5 will take about one month);

6. Obtain real estate and register for purchase at the Land Registry;

7. Prepare and complete the tax declaration related to the purchase of a house and all tax obligations that should be complied with;

8. Prepare the required documents and notarized translation, and submit the golden visa application (completed within 10-15 working days);

9. Visit Portugal again to SEF (Foreigners and Border Service) to adopt biometric authentication;

10. SEF issues a confirmation application letter;

11. The entire application and due diligence will take 4-7 months

12. Approval of the application: residence permit for 1 year: residence permit to the applicant.

13. Renewal of the residence permit after 1 year for a period of 2 years;

14. The residence permit will be renewed after 2 years for a period of 2 years;

If applicable, please apply for a permanent residence permit and citizenship after living in Portugal for 5 years (residence requirement: 7 days for the first year, 14 days for the next two years).

五、 Step-by-step guide for golden visa application

①　Determine your investment options

②　Start to prepare and organize your documents

③　Obtain Portuguese NIF (tax number) and open a Portuguese bank account (can be done remotely)

④　Transfer the required investment amount to your Portuguese bank account

⑤　Investment Processing

⑥　Translate and certified all documents into Portuguese language according to SEF requirements

⑦　Submit an initial application to SEF, you will need to pay the government application fee and provide copies of all necessary documents

⑧　Make an appointment for an interview and attend the biometric collection session.

⑨　Waiting for final approval

⑩　After approving your golden visa, pay the government license fee

⑪　Your residence permit will be issued, valid for one year

⑫　Renew your residence permit at the end of the first and third year

⑬　Become a permanent resident in the fifth year and apply for Portuguese citizenship

⑭　You will now receive your Portuguese passport

六、 Documents required for the Golden Visa Portugal

Golden visa applicants must submit the following documents for the initial application and each renewal:

Ø Copy of valid passport and travel document

Ø The deed or contract for the purchase of property or the signed promissory note contract, together with proof of deposit

Ø Statement of the applicant's Portuguese bank confirming the transfer of funds

Ø Proof of health insurance in Portugal

Ø A certified copy of the non-criminal certificate of your country of origin

Ø Authorizing SEF to extract the complete form of Portuguese criminal record

Ø Your statement confirms compliance with investment requirements

Ø Documents in the Portuguese Tax, Customs and Social Security Systems. You can apply for these documents online and will be available in 45 days

Ø The receipt shows that you have paid the application processing fee

Please note that the certificate of no criminal record is valid for 90 days before submitting your application. For all other certificates, the validity period is 180 days.

七、  Certified Documents

All documents required for certified must be translated into Portuguese by qualified translators.

Documents can be certified in one of two ways

v  Certified by the Portuguese Consulate

v  Notarization of joint ventures of signatory countries of the Hague Convention

Translate Documents

The original document must be accompanied by a certified Portuguese translation, which can be done in one of three ways:

* Translator accredited by the Portuguese Consulate

* Anyone, if the translation is certified by a Portuguese lawyer

* Consulate in Portugal of the issuing country

Get Portuguese NIF and open a Portuguese bank account.

In Portugal, this is a relatively simple process that can be done remotely

Get your Portuguese NIF

NIF ("Númerode Identificação Fiscal"), also known as "Númerode Contribuinte", is your tax identification number, used for tax purposes required for various transactions, including opening a Portuguese bank account and purchasing a property.

八、The Portuguese government charges the following fees for golden visas:

Ø  The initial application fee is 527.60 Euros (€82.30 for each investor’s family member)

Ø  The approval fee for each golden visa is €5,274.40 per visa holder

Ø  The visa renewal fee at the end of the first and third year is €2,637.20 per visa holder

Ø  The follow-up visa fee is 527.60 Euros (€82.30 for each investor’s family member)

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