Portugal Golden Visa - Legal Law Firm in Dubai, UAE

Portugal Golden Visa By Investment

Portugal boasts an excellent reputation and is considered one of the world’s most globalized and peaceful nations, with a high quality of life and a very high Human Development Index ranking. It is among the oldest nations in Europe, with a rich history, lively culture, exceptional cuisine, stunning beaches, and idyllic countryside.

The Portugal Golden Visa is a residence visa issued to non-EU nationals who have made a significant investment in Portugal, such as purchasing real estate, making a capital investment, or creating employment opportunities.

It is a fast-track process for obtaining permanent residence and citizenship in an EU country; via the Golden Visa, you can become eligible for Portuguese citizenship in as little as five years.

A minimum real estate investment of €280,000 is required to qualify for the Portuguese Golden Visa.

Investment options for the Portuguese Golden Visa:

- Purchase of real estate worth €500,000 (€400,000 in low-density areas)

- Purchase of real estate property worth €350,000 (€280,000 in low-density areas)

- Capital transfer of €1,500,000 (1.5Million) for 5 years

- Contribution of €250,000 for investing in artistic output or supporting the arts

- Invest €500,000 in a qualifying investment fund

Eligibility for Portugal Golden Visa:

- Applicant must be over the age of 18

- Applicant must make a significant investment that is beneficial to the Portuguese economy

- Applicant must have no history of criminal records. Police clearance is required from all countries the applicant has lived in for more than a year

- Applicant must own the money you seek to invest

- Applicant must commit to maintaining the investment for at least another five years

- Applicant must have Portuguese health insurance or internationally recognised health insurance

Benefits of Portugal Golden Visa:

- If you receive a Golden Visa, you become eligible for citizenship after five years, along with your family

- You do not actually need to live in Portugal; you just have to spend 7 or more days in the first year and 14 or more days in the subsequent years

- Visa-free travel in the Schengen Area during the residency period

- Visa-free travel to more than 180 countries, including the EU, Schengen, and USA (via an electronic travel authorization (eTA) after citizenship)

Eligible Dependents:

- Spouse or legal partner

- Children under 18 years of age

- Children under 26 years of age who are students, unmarried, and financially dependent

- Parents and grandparents over 66 years of age or dependent parents over 55 year age

- Siblings under the age of 18 years, the applicant should have legal custody of the siblings.

- You and your family members can live and work in Portugal and have access to its healthcare and education

- You or your dependents can undertake remunerated employment

- 4th most powerful passport, according to the Passport Index 2021

FAQs:

What is the Portugal Golden Visa Residence Permit?

The Portugal Golden Visa Residence Permit Programme, is a fast track for foreign investors from non-EU countries to obtain a fully valid residency permit in Portugal (otherwise known as a ‘Golden Visa’).

Can Golden Visa holders work in Portugal?

Yes, there are no restrictions for the investors to work in Portugal. Since you can also add your spouse and other dependent family members when applying for the Portuguese residence permit, you and your spouse can work freely and pursue professional activities in Portugal.

3. Can the Golden Visa application be done remotely or in an embassy?

The application itself is submitted online, but you need to travel to Portugal for biometrics after your application is accepted.

Is it possible to use borrowed funds for investment?

Yes, it is possible to borrow funds that exceed the minimum amount for a Golden Visa. For example, for an investment of €600,000, you can take out a loan of €100,000 from a Portuguese bank). If the funds are not borrowed in Portugal, then you can use them for the full investment cost.

What is the validity of the Portugal Golden Visa Residence Permit?

The Portugal Golden Visa Residence Permit Programme will be valid for an initial period of 1 (one) year and then will be renewed for subsequent periods of 2 years.

Can the investor sell the investment at any time if he no longer needs the Portugal Golden Visa?

Yes, the investor is free to sell the property/investment if he no longer wishes to continue with the Golden Visa programme. However, to qualify fully, the investor must hold the investment during Portugal Golden Visa’s validity period – 5 years.

How long is the wait until I can apply for citizenship and a Portuguese passport?

In 2018, the Portuguese government changed the Portuguese Nationality Law and reduced the required period of residency to 5 years from 6 years.

Can I bring my family with me to Portugal?

At the same time as applying with your own application, you may apply fo rthe Golden Visa for the following family members:

Spouse or legal partner
Children under 18 years of age
Dependent children under 26 as long as they are unmarried and enrolled as full-time students
Parents of either spouse if over the age of 66 years old (or 55 and dependent)
Siblings under the age of 18 years from either spouse or partner if legally responsible

Can spouses who are not officially registered apply?

Yes, they can, but it will be necessary to prove their union.

Can sisters/brothers of the main applicant apply together?

No, sisters and brothers must file their own separate application.

Do dependent children need to stay dependent during the whole Golden Visa process?

Any dependents need to meet the same criteria on each renewal application, not just on the initial application

Does the visit for biometrics count towards the required time spent in Portugal?

Only time spent in Portugal after getting your first residency card counts. Therefore, the first biometrics visit is not included in the 14 days you need to spend in Portugal during the first 2 years. However, the time spent in Portugal during the second biometrics visit for the renewal of your residency card counts towards the 14 days required for the first 2 years.

Phone: (+971) 4 453 9090

Fax: (+971) 4 453 919

Office no. 2906, Prism Tower, Business Bay, Dubai- U.A.E.