FAQ - Frequently Asked Questions

What is the Golden Visa Program?

The Golden Visa is a temporary residence permit, in lieu of a residence visa, which is issued for investment activities in Portugal.

Under the Golden Visa program, non-EU citizens simply need to carry out one of the investments set out in the law to qualify to obtain a residency permit in Portugal.

This residency permit will allow the investor to enter and/or live in Portugal and to travel freely within the vast majority of European countries.

Aimed at attracting foreign investment to Portugal, the Golden Visa is a very straightforward and flexible programme, with simple and clear legal requirements. With extremely reduced minimum stay requirements, the Golden Visa is clearly one of the most attractive residency programs for investors in the world.

Why is Portugal Offering a Golden Visa to Property Investors?

Since the economic meltdown about 5 years ago, property prices and the construction industry in some of the Mediterranean countries (e.g. Portugal, Spain, Cyprus, Greece, etc.) have been extremely badly effected.

In order to reverse this property crisis, Portugal have decided to issue Golden Visas to investors (both business and property) to encourage foreign nationals from Eastern Europe, Asia, Africa and South America to invest in property.

By doing so, they expect the Property Market to recover and the construction industry to then re-employ the thousands of workers currently unemployed. With property prices in these countries the lowest in many years, this is a fantastic opportunity and time to invest.

What are the benefits of the Golden Visa Program?

The beneficiaries of Golden Visa are entitled to:

Residence visa waiver for entering Portugal
Living and working in Portugal or in another European country
Visa exemption for travelling within the Schengen Area
Residency extended to family members
Applying for permanent residence
Applying for Portuguese citizenship

What types of investments are allowed under the Golden Visa rules?

The requirements to obtain the Golden Visa are:

Capital transfer with a value equal to or above 1 million Euros
The creation of, at least, 10 job positions;
The purchase of real estate property with a value equal to or above 500.000 €
The purchase of a 30 years old real estate property, with a value equal to or above 350.000 €
Capital transfer with a value equal to or above 2500.000 € for investing in some specific activities
Capital transfer with a value equal to or above 500.000 €, for purchasing shares in investment funds or in venture capital

Is it possible to buy two or more properties, of which total value of which is over 500 thousand Euros?

Yes, one investor can, for example, acquire two properties in the value of 250 thousand Euros each.

What are the general requirements that the investor has to comply with?

The simplicity of the Golden Visa Program implies an extremely reduced amount of requirements being asked from the investor. The Golden Visa Programme sets out that the investor must comply with general requirements applicable to all types of qualifying investments and also with the specific requirements of each type of qualifying investment.

In general, all investors have to comply with the following requirements:
Keep the investment for a minimum period of 5 years
Funds for investment should come from abroad
Entry in Portugal with a valid Schengen visa
Absence of references in the Portuguese Immigration and the Schengen services
Absence of conviction of relevant crime
Minimum stay in Portugal: 7 (seven) days during the first year and 14 (fourteen) days during each subsequent period of two years

What are the required documents for a residence permit application?

The basic documents are:

Application
Passport or another valid travelling document
Proof of legal entry and permanence in national territory
Proof of health insurance
Signed application enabling consultation of the Portuguese Criminal Records by SEF
Criminal Record Certificate from the relevant authority of the applicant's home country or from any other country where he / she resided for over a year
Proof of the requirements' fulfilment

Is there a minimum period of time for permanency in the Portuguese territory?

Applicant shall deliver evidence that he / she complied the following minimum periods of permanence in National territory:

7 days in the first year and 14 days in the subsequent 2 years

The reduced amount of days to stay is created for investors from distant countries, which makes this programme even more appealing to international investors.

What are the general requirements that the investor has to comply with?

In general, all investors have to comply with the following requirements:
Keep the investment for a minimum period of 5 years
Funds for investment should come from abroad
Entry in Portugal with a valid Schengen visa
Absence of references in the Portuguese Immigration and the Schengen services
Absence of conviction of relevant crime
Minimum stay in Portugal: 7 (seven) days during the first year and 14 (fourteen) days during each subsequent period of two years

What are the required documents for a residence permit application?

The basic documents are:

Application
Passport or another valid travelling document
Proof of legal entry and permanence in national territory
Proof of health insurance
Signed application enabling consultation of the Portuguese Criminal Records by SEF
Criminal Record Certificate from the relevant authority of the applicant's home country or from any other country where he / she resided for over a year
Proof of the requirements' fulfilment

Is there a minimum period of time for permanency in the Portuguese territory?

Applicant shall deliver evidence that he / she complied the following minimum periods of permanence in National territory:

7 days in the first year and 14 days in the subsequent 2 years

The reduced amount of days to stay is created for investors from distant countries, which makes this programme even more appealing to international investors.

Is it possible to extend the Golden Visa to family members?

Yes. Under the Golden Visa Programme, the investor's family members may also apply and obtain a resident permit from Portugal by applying for "family reunion". The Golden visa will be extended to family members, namely children, spouse and dependent family members.

The family members will also be eligible for Permanent Residency after 5 years Portuguese Citizenship after 6 years.

Who is considered as a member of the resident's family?

The spouse
Minors or children who are under guardianship of the couple or of one of the spouses.
Minors adopted by an unmarried applicant, by a married applicant or by the spouse, following decision taken by the relevant authority of the Country of origin, provided that legal framework incorporates the same rights and duties of natural affiliation and provided that decision is acknowledged by Portugal.
Children who are of age and of whom the couple or one of the spouses is in charge, that attend a Portuguese teaching institution.
Progenitors in the first ascending line of the resident or the respective spouse, provided they depend from either of those.
Underage brothers or sisters provided they are under the tutelage of the resident, in accordance to decision made by a relevant authority of the Country of origin and provided that decision is acknowledged by Portugal.

How can the investor and family obtain Permanent Residency after 5 years?

Under Portuguese Law any person that has held a valid Portuguese temporary residency title (e.g. the Golden Visa) for a period of at least 5 years, he will be entitled to obtain Permanent Residency in Portugal.

The investor and family members will have to meet the following criteria in order to be able to apply for Permanent Residency in Portugal:

Absence of conviction of relevant crime during the last 5 (five years)
Proof of income / financial independence
Proof of accommodation in Portugal
Basic knowledge of Portuguese

What rights does a resident of Portugal have?

Basically, a person authorized to live in Portugal, has the right to education, professional activity, training, improvement and rehabilitation, health care, and justice system. And, of course, main rights are to enter and live in Portugal. Also, to travel in the Schengen zone, since Portugal is a Schengen country, travel to other Schengen countries should require no other requirements.

How can the investor and family obtain Portuguese Citizenship?

The Portuguese legislation also sets out that any person who has been validly resident in Portugal for at least 6 (years (either under a temporary or permanent residency title), is eligible for obtaining Portuguese Citizenship.

In order to be able to obtain Portuguese Citizenship, the investor and family members will also have to comply with the following requirements:

Absence of conviction of any relevant crime
Be at least 18 years old (or at least 16 but married or legally responsible)
Pass a simple Portuguese language test, which will serve to show sufficient knowledge of the language

How long will the application take to be processed and does the investor have to pick up the Golden Visa in person?

Once the application is submitted at the Services of Foreigners and Borders (SEF), it will take around 2 weeks for the application to be processed.

Once the application is processed, the Services of Foreigners and Borders (SEF) will contact the investor or the investor's legal representatives in Portugal and set up an appointment with the investor (and family members) to collect signature and fingerprints.

It should be noted that in some cases, it is possible for the investor to go to the immigration services to leave the fingerprints and signature shortly before the investment and/or submission of the required documents.

What happens to the investment after 5 years - can the investor sell the property / transfer the money to another country?

Yes, the investor only needs to hold the investment during the Golden Visa's validity period - 5 years

Can the investor sell the investment at any time if he no longer needs the Golden Visa?

Yes, but without proof that the investment has been kept, the investor will not be able to renew the Golden Visa Permit.

Does the investor need to live in/use the property he is purchasing or can it be rented out?

No. The investor does not need to occupy the property and it can be rented out to obtain income.

What are the taxes and costs for property acquisitions and ownership?

There are three taxes in Portugal related to property:

Payable with the property's acquisition:
"IMT" or Property Transfer Tax, which is the tax on transfer of ownership of property
Stamp Duty
Payable on an annual basis
"IMI" or Council Tax, which is the annual municipal property tax; it is levied between 0.3% and 0.5% on the property's tax value

With the Golden Visa does the investor need to pay taxes in Portugal on his worldwide income?

No. If the holder of the golden visa does not stay in Portugal form more than 183 consecutive days, he/she will not be required to pay taxes for income generated outside of Portugal.

Further questions

We will keep this updated and keep adding any Questions & Answers that we feel may help. However, you can always contact us and we are always pleased to help.