In this video, we will introduce the Portugal Residency by Investment program.
0:25 – About the Portugal Golden Visa/Residency by Investment Program
The Portuguese government passed a law in October 2012 to launch the residency by investment program, also known as a golden visa program. To be able to apply for this program, you should be at least 18 years of age, in good health, and without a criminal record. As this is a residency program, you are required to visit Portugal for 7 days per year in the first 5 years. In addition, you are required to make a purchase of real estate, make a capital transfer, or create job openings in Portugal.
0:58 – Investment Options
To qualify for the Portuguese residency by investment program you are required to make a minimum investment of 500,000 EUR in a real estate project. If the property was constructed more than 30 years ago, or, the minimum amount is reduced to 350,000 EUR.
If the property is located in low-density areas, the minimum amount is reduced to 280,000 EUR.
There are taxes for the property transfer of up to 8% depending on the property value and location. Investors are required to pay additional fees for annual property taxes, property stamp duty and renewal of residency cards.
In addition to the minimum investment, there are government processing fees and professional fees that apply to your application.
2:09 – The process of obtaining a Portugal Golden Visa/Residency by Investment
The process for acquiring a Portuguese residency through investment is divided into 7 steps over a period of 4-6 months.
Step 1, we will do an initial background check to make sure you are qualified to apply to the program. If you pass the qualification process, a down payment of our professional fees is required to start working on your application and move to the next step.
Step 2, our team will assist you with the collection of all documents required by the government. We will also assist with the translation and legalization of your documents.
Step 3, we will present Portuguese properties according to your requirements. Once you have made your choice, a transfer of funds is required to complete the purchase.
Step 4, with the purchase and registration of your property completed, the collected documents are submitted online for pre-approval. The pre-approval takes approximately 4-6 weeks.
Step 5, once your application is pre-approved, all applicants will have to submit their biometric data to the government. At the same time, your residency application is submitted.
Step 6, once the residency application is approved, the government issues the residency cards. After the balance of the professional fees is settled, the cards are couriered and will be delivered to you.
Step 7, you are required to visit Portugal for 7 days each year in the first 5 years to maintain your residency status.
3:35 – The benefits of a Portuguese Golden Visa
As a permanent resident of Portugal, you will become a resident of the European Union, which means you are entitled to freedom of movement in the Schengen area. You and your family will be able to study in schools or universities across Portugal and enjoy world-class healthcare. By fulfilling minimal requirements, you may be eligible for Portuguese citizenship after 5 years of holding your residency. The Portuguese passport is ranked in the top 5 passports in the world for ease of travel. Citizens of Portugal can travel visa-free or with visa-on-arrival to over 185 countries and territories including the USA, the EU, Singapore and Hong Kong.
4:18 – Frequently Asked Questions about the Portugal Golden Visa/Residency by Investment Program
1. Can I include my family?
Yes, you can include qualified members of your family in the application or add them after you have obtained your residency for an additional fee. A qualified family member can be a child not older than 18 years, a spouse, parents and in-laws which are economically dependent on the main applicant.
2. Should I learn Portuguese to qualify for citizenship?
Yes, if you choose to apply for citizenship in Portugal, you will have to pass a basic language test.
3. What if I get rejected?
Savory & Partners will assess your eligibility before submitting your application. Anything that might cause issues in the process will be explained to you before any action is taken. Once your file is submitted, the Government will conduct its own assessment.
4. Can I live, work or study in other European Union or Schengen countries?
After obtaining your golden visa, you can only live, work or study in Portugal. However, if you apply for and obtain Portuguese citizenship, you will have the right to live, work or study in any country which is part of the European Union or the Schengen Area.