Portugal Golden Visa by Investment is now governing the grant of residency visa for investment allowing non-immigrants to enter the national territory, without the need for a visa, for business purposes.
Unlike the US visa scheme, the Portugal Golden Visa by investment scheme allows people to apply for the visa without satisfying the eligibility criteria. The main feature of this scheme is that the applicant will not be subjected to the immigration status check. This will make the process easier and faster. As the applicant will not be subjected to an immigration status check, his or her documents will be examined thoroughly and if found satisfactory, the application will be approved without delay.
Favorite Destination for Investments in Permanent Residence
Portugal has one of the most stable real estate markets. In addition, Portugal’s real estate market is considered among the bests in Europe. Portugal also offers good prospects of economic growth with the high availability of new jobs, due to the large inflow of skilled workers from European as well as Asian countries. Thus, it is expected, that in the future, Portugal will be the favorite destination of people looking for investments in Permanent Residence (residence permit) as it will offer them the most attractive package in the region. The Portugal Golden Visa by Investment enables people to reside and work in Portugal for a fixed period of six months to one year.
Register with The Country’s National Police
As per the law, one must first register with the country’s National Police. After having registered with the Policia Nacional do Estade (PNE) of Portugal, one will receive a residency permit with Portuguese citizenship. This residency permit is also called the Golden Visa Residency Permit. The procedure to issue the golden visa residency permit starts with the submission of the application form with the required documentation to the Ministry of Justice. If found eligible, the applicant will receive a permanent residency card in the Portuguese embassy situated in the country.
Portugal Golden Visa by Investment
Portugal has got many options to offer to the people looking for investment opportunities in Portugal. Among these options is the Portugal Golden Visa by Investment. The golden visa by investment enables the individuals to invest in Portugal either for permanent residence or for obtaining a temporary residence permit. Portugal’s government facilitates the process of investment in Portugal through the investment visa. The investment visa is provided to the individual on proof of his or her age (minimum age requirement is 50 years old) and based on his earnings (current or previous) from a company approved by the Portuguese authorities.
Permanent Residency Card
One can get permanent residency legally through investment through Portugal’s golden visa holder program. The golden visa holder program permits the investors to become a permanent residents of Portugal provided that they pay the prescribed fee for getting the permanent residency card. Portugal has a separate system for permanent residency and temporary residence permits.
A permanent residence card is issued within 3 years, as is the case with permanent residency. On paying the prescribed fee, an individual gets the permanent residency card which is valid for 2 years. During the period of the card, he can move to any part of Portugal whether it is to a new city or another country, but not to another province in Portugal. The person is also allowed to work in Portugal and earn up to two hundred Euros each month.
Temporary Residence Permits
Temporary residence permits are issued within a period of stay not exceeding one year. An investment visa is issued within such a period only for the duration of the stay. The number of permits and their number varies from time to time, the details can be obtained online or at the Portugal immigration office. There are different rules applicable to the investors having Portugal Golden Visa by Investment as compared to those having the same nationality. The Portuguese law does not allow an individual who holds the golden visa by investment to bring his family members as the family members are considered to be his descendants.
Portugal Visa by Investment permits the investors to sponsor family members who cannot accompany them. If the sponsor is a non-citizen, then care will be taken of the dependent children born outside Portugal. The investment permits are renewable every four years or else they will become forfeited. After the expiry of the permit, it is necessary to obtain another permit.