Portugal Golden Visa
Introduction
Portugal is one of Europe’s most historically influential countries, with a rich past of global exploration and trade. As a Portuguese resident, you can enjoy access to and visa-free travel across the 27 European Schengen Area countries. The programme offers an opportunity for you and your family to live, study, and work in Portugal, a safe country with excellent healthcare and educational opportunities.
A Portuguese Golden Visa Programme provides a possible route to Portuguese and European Union citizenship after five years of residency. You will need to demonstrate a basic knowledge of the Portuguese language and genuine links to the country.
Portugal is family friendly, and the Golden Visa Programme extends to dependants. This represents an excellent option for families seeking a European base. English is widely spoken, and the country offers attractive personal tax options via the non-habitual tax regime.
The programme requires an applicant to stay in Portugal for at least seven days in the first year and no less than 14 days in each subsequent two-year period.
Requirements
Portugal launched its Golden Visa Programme in October 2012. This has become Europe’s most popular residency-by-investment programme and is available to all non-EU nationals.
The programme requires you to invest in the country in return for a residence permit. The programme offers a number of investment or contribution options that will qualify you and your family for residence.
Investment Options
Select one of the following options:
- Transfer EUR 500,000 in capital to acquire participation units in investment funds (non-real estate collective investment entities) or venture capital funds
- Create at least 10 job positions
- Make a capital transfer of EUR 500,000 to incorporate a commercial company combined with the creation of five permanent jobs
- Transfer EUR 500,000 in capital for research activities carried out by public or private scientific institutions that are part of the national scientific and technological system
- Make a capital transfer of EUR 250,000 or more to support the investment or artistic production, recovery, and maintenance of national cultural heritage
Qualifying Dependants
As the main applicant, you must be free from debts in Portugal, source investment capital outside Portugal, and be able to confirm the legality of your income. You can add your spouse as a dependant. Like you, they must be over 18 years of age, hold medical insurance, have a clean bill of health, and not have a criminal record.
You can also include dependent children of any age. In addition, you can add dependant parents aged over 55. If parents are older than 65, they are considered dependent and can be included.
Renovation Period
The Portugal Golden Visa is a temporary residence permit valid for a period of two years from the date of issue. You can renew it for successive periods of two years, provided you continue to fulfil the necessary requirements.
After five years, you can apply for a permanent residence permit or Portuguese citizenship, assuming you are eligible.
Taxation
Portugal charges personal taxation for non-residents on Portuguese-sourced employment and pension income at a preferential rate of 25%. They tax interest and rental income, dividends, and capital gains at 28%.
Current residents can apply for the Non-Habitual Resident (NHR) tax regime which may be more beneficial. Income derived from a foreign source and relating to employment income, pension income, and business and professional income can become subject to tax exemption. Any income derived from a Portuguese source will be subject to income tax at a flat rate of 20%, although some surcharges may apply.
NHR will no longer be available for new residents after 2023. The Portuguese Parliament is currently discussing the new Incentivized Tax Status (ITS) it will implement to replace NHR.
Portugal does not apply a wealth tax. There is no tax on gifts or inheritances between parents, children, and grandchildren.
Summary of Key Advantages
Visa-free travel access to the European Schengen Area
Right to live, work, and study in Portugal
Residency within 18-24 months
Low physical presence requirement (seven days in the first year and no less than 14 days in each subsequent two-year period)
Attractive taxation system
Investment options from as little as EUR 250,000
High quality of life, fantastic local cuisine and wines, rich culture, mild climate, and a high level of security
Citizenship possible after five years of legal residence
Application Process
Months 1-18
Initial due diligence. Following the successful screening, we will provide you with a Client Agreement (CA) for review and signature.Upon receiving the signed agreement and retainer payment, our legal team will complete all the necessary government forms and supporting documents. We will also help you open a bank account and apply for your tax ID.
Year 2
Once the initial validity period of your Golden Visa Programme ends, we will assist you in the renewal process, ensuring that you continue to meet the eligibility requirements for an additional two-year extension. Our expert team will guide you through the necessary steps.
Year 4
When the fourth year of your Golden Visa Programme approaches, we will once again help you with the renewal process, ensuring that you continue to meet the eligibility criteria.After completing the renewal process, your Golden Visa will be renewed for an additional two years, allowing you to maintain your residency status in Portugal and enjoy all the benefits that come with it.
Year 5
In year 5 of the Portugal Golden Visa Programme, you become eligible for permanent residency or citizenship.You can take advantage of long-term residency or nationality options in Portugal with various benefits.