The Portuguese Golden Visa as from 2022
European residence permit based on a property investment
The Golden Visa in Portugal, much more than a Portuguese residence permit
The Portuguese Golden Visa is one of the most popular programs for permanent residency in an EU Member State for non-EU nationals, and for good reason. The minimum investment, which is the purchase of a property worth €500,000, is relatively low and offers an irreversible residence permit with the option to apply for Portuguese citizenship after 5 to 6 years. The holder of the Portuguese Golden Visa does not even have to live in Portugal for this. Only a stay of at least 14 days every two years is necessary to remain in possession of this special residence permit for investors.
Travel visa-free throughout the Schengen zone
Because Portugal is a member state of the Schengen zone, the Portuguese Golden Visa not only offers the opportunity to live and work in Portugal, but also the opportunity to travel freely throughout the European Union and all Schengen member states.
Once the holder of the Golden Visa has acquired Portuguese nationality after five to six years, it is even possible to live or work in all EU and Schengen member states. The program is NOT blacklisted by the OECD, unlike many other similar programs.
Portugal offers an excellent quality of life for you and your family
Portugal is a safe and stable nation with a low cost of living, an excellent health and education system. With three major airports, the country is also well-connected to the rest of the world.
The family members of the investor can also obtain a residence permit together with the main applicant. The Golden Visa in Portugal offers family reunification options for children of the investor, the spouse and dependent family members. The family members are also eligible for permanent residence after 5 years and Portuguese citizenship after 6 years.
The Requirements for a Golden Visa in Portugal
There are several options for getting the Portuguese Golden Visa. On January 1, 2022, an amendment to the law regarding the qualification of Investments for obtaining the Golden Visa came into effect. For example, there are increased minimum amounts for some types of investments and real estate investments are no longer possible in all regions of Portugal. This last change was necessary to relieve the real estate market in larger cities such as Lisbon or Porto, but also in attractive coastal areas like the Algarve.
The following minimum investment requirements now apply to obtain the Portuguese Golden Visa:
a) The previously required minimum investment amount of €1,000,000, is changed to an amount equal to or greater than €1,500,000 for capital transfers:
- for a credit institution authorised in the national territory or registered with the Bank of Portugal,
- for investments in stocks, and
- investments in government debt instruments;
b) The previously required minimum investment amount of €350,000 is increased to €500,000 in capital transfers to:
- research activities carried out by public or private scientific research institutions, integrated into the national scientific and technological system,
- acquisition of participations in investment funds or venture capital funds intended for the capitalization of companies (which are incorporated under Portuguese law and whose duration at the time of the investment is at least five years and at least 60% of the value of the investments is made in commercial companies headquartered in the national territory);
- creation of a commercial company with registered office in the national territory, combined with the creation of five permanent jobs, or to strengthen the share capital of a commercial company with registered office in the national territory, already established, with the creation or maintenance of five functions of work, for a period of at least 3 years.
c) With regard to real estate investments, the minimum investment amounts of €500,000 and €350,000 (for real estate to be renovated older than 30 years or real estate to be renovated located in an area of urban rehabilitation) remain unchanged.
However, there now are restrictions in which region one can buy real estate in order to obtain the Portuguese Golden Visa. These are now limited to the autonomous regions of the Azores and Madeira and regions in the interior of Portugal, so not located on the popular coastal areas:
Golden Visa (through a property investment)
Red: not admissible for investment property
Beige: partially allowable
Dark green: permissible with a minimum investment of €500,000 (or €350,000 if older than 30 years and with renovation project)
Light green: permissible with a minimum investment of €400,000 (or €280,000 if older than 30 years and with renovation project)
However, the above geographical restrictions only apply to residential real estate. Real estate intended for services, trade and tourism, such as offices, shops, tourist apartments, apart hotels and the like, will remain eligible for investments with the above minimum amounts on the entire national territory after 1 January 2022.
Let yourself be guided by professionals
Belalgarve Consultants has a lot of experience in supervising Golden Visa applications in Portugal. We offer a service tailored to your personal situation and are constantly looking for the best investment opportunities in order to be able to deliver both the Golden Visa and an interesting return on your investment. Thanks to our partner network of reliable law firms, we are your all-in-one solution for obtaining the much-requested Portuguese Golden Visa. Be guided by professionals and contact us today.