Moving to Portugal
Permanent residence and naturalization
The biggest advantage of this investment immigration project is that applicants do not need to live in Portugal permanently. They can also apply for permanent residence and naturalized citizenship after 5 years. Applicants and their families only need to stay in Portugal for two weeks every two years to renew their "golden visa." Naturalization applicants do not need to live permanently in Portugal to have the opportunity to obtain citizenship of the country. However, applicants who obtain residency through the golden visa program must prove their ties to Portugal and pass a basic language test before becoming naturalized citizens. Becoming a Portuguese citizen and obtaining a second passport means investors can live, work and study anywhere in the EU. The Portuguese residence card issued through the "Golden Visa" allows investors to travel freely in and out of any part of the EU Schengen Area.
What types of investments are allowed under the “Golden Visa”?
The “golden visa” program has recently been expanded to include a wider variety of investments. Therefore, the following investment types can now participate in the "Golden Visa" program:
Capital investment:
• At least€500,000An investment amount in euros for the acquisition of non-real estate collective investment assets under Portuguese law. The assets must have a maturity of at least five years, and at least 60% of the investment must be made in Portugal and registered as a commercial company.
• Create 10 or more jobs.
•€500,000A capital investment of €10,000 or more to establish a Portuguese company and create five permanent jobs. Alternatively, invest in an established company and create five permanent jobs, or maintain ten jobs for at least three years.
• equal to or greater than€500,000Investment of funds in euros to invest in research projects carried out by public or private scientific research institutions engaged in the national scientific or technological system.
• equal to or greater than€250,000€10,000 invested in arts production or in support of the arts. This can include the restoration or refurbishment of national heritage through local and central government, public agencies or qualified private organisations.
In particular: in areas with low population density, the minimum investment amount for all types of investment will be reduced by 20% (equal to the minimum investment of €200,000).
Validity period of "Golden Visa"
After the visa is first issued, the residence permit issued by the "Golden Visa" project will be valid for 1 (one) year, and each subsequent renewal will be valid for 2 (two) years.
General requirements
The requirements for the “Golden Visa” program are very simple, and investors and their families only need to meet a few requirements. Investors in the “Golden Visa” program must meet a number of requirements, some of which are general and apply to all investment types, while others are specific to certain investment types.
Generally speaking, all investors must meet the following requirements:
a) The investment lasts for at least 5 years
b) The investment amount must come from overseas
c) Enter Portugal with a valid Schengen visa
d) No bad records in Portuguese immigration and Schengen entry and exit services
e) No conviction record for major crimes
f) Minimum stay in Portugal: a minimum stay of 7 (seven) days in the first year and a minimum stay of 14 (fourteen) days in each subsequent two years
i. If investing in scientific and technological research activities carried out by institutions affiliated with the Portuguese National Science and Technology System, the minimum investment amount is €500,000
-Minimum investment exceeds € 500.000
-Must be transferred from overseas to a bank in Portugal
-Only investments can be made in research activities carried out by public and private scientific research institutions affiliated with the Portuguese National Science and Technology System
ii. If investing in artistic output or the restoration and maintenance of national cultural heritage, the minimum investment is € 250,000
- Minimum investment is €250,000
- Must be transferred from overseas to a bank in Portugal
- The investment needs to be used for artistic output, support of artistic undertakings, or the reconstruction and renovation of national cultural heritage
iii. If investing in a fund, the minimum investment is €500,000
- Minimum investment exceeds €500,000
- Must be transferred from overseas to a bank in Portugal
- The investment is required to acquire non-real estate collective investment assets in accordance with Portuguese law. The assets must have a maturity of at least five years and at least 60% of the investments must be made in Portugal and registered as a commercial company
(c)Create jobs
Create at least 10 jobs
-No minimum investment
-No region/activity restrictions
-Need to pay social insurance-related expenses in compliance with regulations
-May involve subsidies/incentives/benefits
-If the investment is in a less densely populated area, the investment amount can be reduced by 20% (i.e. 8 jobs created).
What are the main advantages of the “Golden Visa” program?
The “Golden Visa” program can provide investors with the following benefits:
-No visa required to enter Portugal
-Travel in and out of Europe (Schengen Area) without a visa
- You can live and work in Portugal even if you have residency in another country
-Family members of investors can also obtain residency
-The required minimum length of stay in the country is extremely low
-Low tax burden (see questions 22 – 24)
- Be eligible for permanent residence after 5 years
- Be eligible to obtain citizenship after 5 years
Can family members also get "golden visas"?
Yes. In the “Golden Visa” project, investors’ family members can also obtain Portuguese residency by applying for “family reunification”. The "Golden Visa" will then be issued to family members, where family members refer to children, spouses and family members who need to be supported by the investor. After 5 years, these family members can also apply for permanent residence and citizenship in Portugal.
What documents are required to apply for the "Golden Visa"?
Investors must submit the following documents to apply for the "Golden Visa":
-Proof of investment
-Passport and valid Schengen visa
-Portuguese fiscal number
-Criminal record in country of origin and residence
-Tax ID number of the taxpayer in the country of tax residence
-Criminal record in Portugal
-Certificate of no tax arrears provided by the tax department
-Proof of no outstanding social security fees provided by the Social Insurance Bureau
-Declaration from the investor confirming compliance with various investment requirements
-Have health insurance available in Portugal (if resident in Portugal)
-Payment receipt for initial visa application fee
If the original document is not in Portuguese
Any material whose original language is not in Portuguese or English must be translated into Portuguese. Translated documents must be certified.
What are the specific document requirements for foreign government agencies?
Documents provided by foreign government agencies must be legally authenticated before being submitted to the Portuguese government. Legal legalization means obtaining apostille (if applicable) or legalization by the Portuguese Embassy or Consulate.
Fiscal Number (NIF)
The fiscal number refers to the identification number used by the Portuguese tax authorities (also known as the tax ID number). Investors need to have this number in order to invest.
Where can I apply for a "golden visa"?
Investors who are interested in applying for the "Golden Visa" can submit the application in person or through a personally designated legal representative. The application methods are as follows:
a) Online registration
You can register online at the Portuguese Foreigners and Immigration Service (“SEF”) website. After registration is completed, investors will receive a password and can submit various required forms and documents online.
b) Handle it in person
You can do this in person at Portugal's Foreigners and Immigration Service.
Please note that investors and investors’ family members must appear in person at the Foreigners and Immigration Services Bureau for fingerprinting, signatures and other legal procedures.
We strongly recommend that you obtain professional legal advice from an experienced law firm before applying for a Golden Visa, that is before investing and submitting any applications or documents.
What are the fees for applying for a "golden visa"?
The following fees are payable to apply for the “Golden Visa” (to be paid directly to the Portuguese Foreigners and Immigration Service, “SEF”):
a) Processing fee (application and renewal) – € 540 (€ 83.10 extra for each additional family member)
b) First time application for “Golden Visa” – € 5,391.60 per applicant
c) “Golden Visa” Renewal – € 2,696.30 per applicant
Application period and representative
Once the application is submitted to the Portuguese Foreigners and Immigration Service (SEF), it takes several months for the application to be processed (please note that this is only an estimate based on the current situation).
After the application is processed, the Portuguese Foreigners and Immigration Service (SEF) will contact the investor or the investor’s legal representative in Portugal for payment of the relevant approval fees.
"Golden Visa" application or renewal rejected?
The investor (or any family member) will only be refused a visa if:
a) The person has not maintained the investment for at least 5 years
b) The person does not meet the minimum length of stay in Portugal
c) The person has been sentenced to more than one year in prison
d) The person is currently being ordered to leave the country and prohibited from entering the country.
e) For public health reasons (diseases as defined by the World Health Organization, or other infectious or parasitic diseases regulated by the Portuguese territory)
f) The issuance of a “golden visa” may be refused based on reasons of public order, public safety and public health.
After 5 years of continuous investment – can the investor sell the property/remit money to another country/cancel the job?
Yes, investors only need to continue investing during the validity period of the “golden visa” – that is, a 5-year period.
Can an investment be sold at any time after the investor no longer needs the Golden Visa?
Yes, but investors will not be able to renew their Golden Visa without evidence that the investment is sustained.
Does the investor need to live in/use the purchased real estate, or can the purchased real estate be rented out?
unnecessary. Investors do not need to use the purchased real estate for their own use, and the real estate can be rented out to generate income.
With the “golden visa”, do investors have to pay taxes in Portugal on their income elsewhere in the world?
uncertain. If the holder of the "Golden Visa" does not reside in Portugal for more than 183 consecutive days, he/she will not be required to pay tax on income generated outside Portugal.
Is income generated in Portugal subject to tax?
Rental income and income from capital (such as interest, dividends, etc.) are taxed at a rate of 28%.
