What are the requirements to apply for Portugals Golden Visa
In simple words, the Portugal Golden Visa is an immigrant investor program set up by the government of Portugal that guarantees residency in Portugal to foreign people who either invest in properties worth at least €500,000 or create 10 jobs in Portugal.
Portugal’s Golden Visa Scheme began in 2012, and by May 2020 had been accredited with investments of over 5.2 billion euros from over 20,000 persons (8,736 investors and 14,936 family members).
Who can apply and the requirements
In more detail the eligibility criteria to obtain a Portugal Golden Visa includes the following:
Making a Capital Transfer which has a value equal to or above €1 Million.
The creation of at least 10 jobs.
The purchase of ready-built real estate property of at least €500,000 or above.
The purchase of Golden Visa Algarve real estate property, with an original construction date of more than 30 years or located in designated urban regeneration areas, needing refurbishment, with a total value equal to or above €350,000.
Proving a capital transfer with a value equal to or above €350,000 for investing in research activities that are conducted by public or private scientific research institutions involved in the national scientific or technological system of Portugal.
A capital transfer with a value equal to or above €250,000 with the intention to invest in artistic projects or support the Portuguese arts programs.
Providing a capital transfer of the amount of €350,000, or above, for the purchase of shares of investment funds or venture capital funds dedicated to the capitalisation of companies. Investing in the capital that is under Portuguese legislation, whose maturity, at the time of the investment, is, at least, five years and, at least, 60% of the investments are realised in commercial companies whose head office must be located in Portugal.
Making a capital transfer of the amount of €350,000, or higher, for the constitution of a commercial society with a head office located within the Portuguese territory. This must also create five permanent employment positions.
Alternatively, it may also be for the reinforcement of the share capital of a commercial society again with a head office located within the national territory. It can be already existing, with the making or keeping of working positions. With a minimum of five permanent jobs which must be for a minimum period of three years.
So how long does the process take?
Once all required documents are successfully submitted, the initial approval will take up to 48 hours. However, it normally takes the authorities up to 8 months to complete the application process.
In the meantime, you can stay initially on a short-term visa of 3 months. Applications to extend the period are normally accepted if all the documents have been forwarded.
The managing Partner handles the property promotion and sales from the Almancil office which is also adjacent to the luxury coastal golf resorts of Vale do Lobo and Quinta do Lago. With over 25 years of experience in the Algarve property & financial markets.