Everything You Need to Know About Portugal Golden Visa

Right Now, Portugal Golden Visa is one of the most popular and trending residency-by-investment programs in the world, launched by Portugal in October 2012. Millions of people have successfully relocated to Portugal (also known as the sweetheart of Southwestern Europe) and started new and high-standard lives with their families.

Now you might be wondering what exactly is making the demand for Portuguese Golden Visa sky-high. And what makes Portugal so fascinating is that people around the globe are head over heels for it and applying in the hundreds.

This guide will help you know about Portugal’s Golden Visa and how it can benefit you.

Portugal – The Blue-Eyed Boy of Europe

Portugal showcases various jaw-dropping sceneries, beaches, and resorts. And besides that, you can see the reflection of Portugal’s rich cultural and traditional roots in its fine architecture.

Portugal is one of the world’s most gorgeous regions, and millions of tourists arrive to spend the summer holidays. Situated along the sea and below a warm sun, this Southern European country is one of the most relaxed and welcoming countries for immigrants.

Here in Portugal, you can witness a variety of affordable, delicious, and mouth-watering seafood. Each Portugal city has its charm, and you can view different historical sites.

In short, visiting Portugal is a dream; everyone wants to make it a reality by stepping foot in Portugal to settle down and experience a quality life.

How to Turn your Dream into a Reality?

Many people wonder how to reach their desired destination and permanently live there. Well, the good news is that you can achieve fulfil your wish by acquiring a Portugal Golden Visa. 

What is a Portugal Golden Visa Program?

Portugal’s Golden Visa Program (commonly known as the Portugal Golden Residence Permit ) is a five-year residence by investment program meant for non-EU citizens. Once you have the residence permit, you can have an excellent chance of living, working, and studying in Portugal.  Not only this, but you can freely move across the Schengen Area of Europe and other 150+ countries without any Visa.

The best thing about this program is that you don’t have to live in Portugal entirely for five years; it requires an average of seven days per year to stay in Portugal over this period. After spending 35 days in Portugal, you can further apply for permanent residence.

With the Portuguese Golden Visa, you can witness a wide range of low-cost investment options. You can choose any of the options as per your requirements, and then you will be able to get your residence permit,

Further, Portugal allows you to have multiple nationalities, so you don’t have to get rid of your current citizenship, provided your country allows dual nationality.

Why was the Golden Visa Program for Portugal Launched?

The Golden Visa Program was launched back in October 2012 by Portugal. Portugal was already struggling to overcome the disastrous effects of the economic crisis of 2008.

The primary purpose of the Golden Visa Program was to encourage and attract international capital so that the economy could be supported.

Requirements for Obtaining a Golden Visa

The following are the primary requirements you need to fulfill to get a Golden Visa for Portugal.

• You must be a non-European citizen.
• No Criminal Record.
• Your age must be at least 18 years.
• Make any sort of investment in Portugal.

Investment Options for Portugal Golden Visa?

Following are some of the investment options which you can choose for obtaining a Golden Visa:

• Real Estate: You can invest in real estate with a minimum worth of either 500,000 or  350,000 Euros. The Real Estate can be either residential or commercial, which you can choose according to your needs. If you purchase a property in a low-populated area, you would be entitled to a 20% discount.

• Fund Contribution: You can contribute 500,000 Euros to an investment fund or any capital fund units.

• Research Project: You can spend 500,000 Euros on any kind of scientific research project for any organization which is a part of the national scientific and technological system.

• Donate in Artistry: You can donate 250,000 Euros to support, reconstruct, and maintain any national cultural heritage. 

• Job Creation: You can create a minimum of ten new jobs in Portugal and maintain a minimum of five permanent jobs for three years.

• Capital Transfer: Execute a capital transfer of at least 1 million Euros in your Portuguese bank account.

The Most Preferred Form of Making an Investment?

Real Estate is one of the most preferred and popular methods for investing in Portugal. The reason is that Portugal offers immigrants a chance to enjoy a high standard of life at lower costs.

The real estate market of Portugal has already reached immense heights. Therefore, you can expect to generate a higher Return on Investment (Rental Yield) by making an investment in Real Estate.

Benefits of Obtaining a Golden Visa for Portugal

Following are the benefits you can enjoy once you have got your Golden Visa for Portugal:

• You can travel in Europe’s Schengen Area and other 186+ countries without requiring a Visa.

• By getting a Golden Visa, you have legal rights as others to live, work, and study in Portugal as per your wishes.

• After spending five years as a rightful resident, the door to Portugal citizenship will open for you. Once you have become a Portuguese citizen, you can keep other citizenship at the same time. However, you will have to confirm from your own country if it allows dual nationality or not.

• You don’t need to spend 5 years in Portugal; Only seven days during the first year of residence and 14 days within the next two years. which can count towards citizenship eligibility after five years

• If you are interested in pursuing higher studies, then Portugal is one of the best options as you can get quality education in world-class institutes, along with practical knowledge as well which is beneficial for your career.

• You can live in Portugal with your family as they are highly respected and valued.

Besides this, Portugal is the best place to enjoy a high-quality life and the crime rate is relatively low which makes Portugal one of the most peaceful and secure countries.

• You can enjoy different top-level public healthcare facilities from high-ranking healthcare clinics and hospitals.

Which Family Members are Eligible for Acquiring a Golden Visa for Portugal?

Following are the family members whom you can invite to join you in Portugal:

• Spouse or legal partner.
• Children under 18 years of age.
• Dependent children under 26 as long as they are not married and pursuing education or if they would like to remain financially dependent on their parents.
• Parents of your spouse above 66 years of age.
• Siblings below 18 years of age, under a legal guardian (either spouse or other partner, as defined by the courts.

Steps Involved in Golden Visa Application

Following are the steps you need to follow for Portugal’s Golden Visa:

• Compile Necessary Documents: After choosing the type of investment, you must compile all necessary documents for yourself and other members (if you want to include any in the application) and submit the documents to the concerned department. The following are the necessary documents:

• Passport
  • Proof of Investment
  • Proof of Good Health
  • No Criminal Record

Keep one thing in your mind all required documents must be translated into Portuguese in order to proceed further.

• Obtain Tax Identification Number (NIF): To open a Portuguese bank account (for transferring capital), you will need a Tax Identification Number which you can get via your lawyer.

• Make an Investment: You will need to make an investment. For this purpose, you will have to visit Portugal.

• Approval of Application: Once your application is approved, you will have to submit your documents for Biometric.

• Issuance of Portugal Golden Visa: After the biometric phase is complete, it will take some months for the issuance of the Golden Visa.

There are many immigration firms out there that claim to be offering the best services. However, when it comes to quality service, no one can beat 7Sky Immigration which is one of the best Golden Visa Portugal consultants.

About 7Sky Immigration

7Sky Immigration is one of the best immigration firms that offer specialized immigration services to help you achieve your relocation objectives at lower costs. We use a dynamic approach in prioritizing the best interests of our customers and helping them turn their dreams into reality very smoothly.

We have a team of motivated, professional, and experienced experts who will help you with consultancy and provide extensive solutions to make your best decisions.

Why Choose Us?

We provide reliable services without any sort of discrimination and believe in transparency. Our customer-oriented mindset helps us provide practical solutions and ensure excellent customer satisfaction and 100% customer retention.

So what are you waiting for? Visit our website 7skyimmigration for more details and choose the program that best serves your travelling needs.

Final Verdict

As we have discussed the Portugal Golden Visa, its benefits, and the procedure to get one. So, it is good for you if you get the services of the approved company. In that case, 7Sky Immigration is an ideal option who have several expert consultants. They can help you by fulfilling your migration needs.