It may be possible that the Golden Visa of Portugal is not only the way of residency. But it is the most famous way to get a residence by investment.
In 2012, Portugal faced many economic crises. So, to overcome crises, the government has launched the Golden Visa program. Then in 2015, the program took much power and was extended globally. However, it was established by a conservative government. But it is the most famous program among all others.
The Portugal government aims to attract foreigners. So, they invest in Portugal’s economy to get residency. The government believes that Portugal Golden Visa by investment will be worth more. It means these will help to rebuild the economy of Portugal.
What is Portugal’s Golden Visa by Investment Program?
Golden Visa is also called a residence permit for foreigners. So, foreigners and family members can get this visa by investment. Then they can get permanent residence and other benefits as well. They also get nationality after five years of investment in Portugal Golden Visa.
The family members that are eligible for Golden Visa are:
- Partner (Husband and Wife)
- Children under the age of 18
- Dependant parents and other family members
After you get a Visa from Portugal, you can apply for temporary residence. It will remain for one year. Then after one year, you renewed the residence for two years. Then after five years, you can get permanent residency in Portugal. The last step is to get citizenship by investment in Portugal. After residence, you can apply for nationality.
How to Get Started with Portugal Golden Visa by Investment Program?
Although the process of getting a Portugal Golden Visa by investment is simple and straight, it also takes some preparation as well as paperwork. So, before the completion of the application, you have to follow these steps:
1. Consider hiring a lawyer:
It is not suggested to hire a lawyer to complete the application process. But it is a good decision if you take help from your lawyer.
Though foreigners are unable to understand and speak Portuguese, so, it becomes difficult for them to follow Portugal’s complex law. Here is the need to hire 7Sky Immigration.
No matter in which program you are investing. You always need safe, legal assistance to overcome all issues. You must hire an expert that has experience in Golden Visa by Investment.
When you are investing in Portugal Visa, your lawyer has to make contracts and recommendations. It is vital to ensure that everything is legal to finalise the process.
Further, you can also get help from your lawyer to obtain the important documents. It is possible that your lawyer can apply for a visa on your behalf of you.
2. Obtain a NIF:
It is a tax number that is needed for some transactions in Portugal. Using this, you can open a bank account, purchase property and sign up for any service.
Remember, in case you don’t have a home address in Portugal. Then you need to provide the name of the lawyer, friend or family member. So they can communicate on your behalf.
3. Open a Portuguese bank account:
Suppose you don’t have a bank account in Portugal. Then the first step you have to follow is the opening of a bank account. You should also have a local account in which you have deposited the investment amount. So, it assures the government that you are eligible to complete the process of Golden Visa. To ease the process, you can hire 7Sky Immigration.
The process of applying for the visa varies with the bank account. It is based on the type of bank and the location where the bank is present. But commonly, you have to give NIF to prove your address and income.
4. Make your investment:
Before applying for the Portugal Golden Visa, you have to invest in the Portugal economy. Suppose you prefer the real estate method to investment. Then remember that you have to wait two to three months to finalise the property. It is a possible case if you buy property in Portugal.
5. Work with a local:
When you are applying for the NIF, you have to give the name of the representative. So, he will contact the Portugal government on your behalf. It may be your family, friend or someone else that works on your behalf.
Suppose you don’t know how to speak Portuguese. Then you need to hire an assistant that knows how to speak Portuguese. It can make your process easy and simple.
In the end, we suggest you take help from a reliable company. It will help you to get Portugal Golden Visa by investment easily. Then you can avail many benefits in Portugal such as residence and nationality.
Before going anywhere else, you must check 7Sky Immigration. It will help you a lot in the smooth process of getting a visa.