Documents Needed For A Portugal Golden Visa Application
In order to qualify for a Golden Visa, you must submit the following:
1) A copy of a passport or other travel document issued by the government.
2) Proof of the main applicants individual qualifying investment. If its real estate, a deed or promissory sale arrangement with proof of deposit payment. If youre investing in a fund, youll need confirmation of your subscription from the funds management.
3) A statement from a Portuguese financial institution verifying the fund transfer.
4) Proof of medical coverage. If in Portugal, from the Portuguese National Health System. If you live outside of Portugal, get insurance from a business that is globally recognized.
5) A background check of your present country of residence. The certificate must be given within three months of the submission of the form.
6) A completed form granting Portuguese immigration authorities permission to access criminal records in Portugal.
7) A sworn declaration that the minimum investment conditions have been met for the five years required.
8) Documents demonstrating compliance with the Portuguese tax and customs authority as well as the social security system. It is important to know that these documents must be issued within 45 days of submitting the form.
9) ARI program payment receipt. Unless otherwise stated, the paperwork should be issued within three months of the submission of your Golden Visa application.
Where Do Family Members Stand
Your immediate family members will also get residence permits if you get a Golden Visa. To apply for family reunification, you have to:
- Login on the ARI portal.
- Create a family group.
- Submit the required documents for each family member:
The following family members are eligible to apply for family reunification with you:
- Your spouse
- Children under the age of 18
- Dependent children up to age 26. They must be students and not married.
- Parents, if they are over the age of 65.
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What Happens If I Cant Renew My Residency In Time Or Have A Gap In My Renewal
If this is the case, its okay as the gap wont have any impact on your legal residency. In fact, the required term necessary for citizenship or permanent residency starts from the date that you were first issued a visa. Any residency gaps will only impact your ability to travel within the Schengen Zone.
Who Needs A Schengen Visa To Enter Portugal
Due to the Schengen visa policies, part of which Portugal is, you will need a visa to enter this country or any other in the Schengen zone, if:
- You are a national of a third-world country that has signed a visa liberalization agreement with the Schengen states, but you were previously rejected from entering Portugal or any other Schengen country.
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How Much Does It Cost To Get The Golden Visa Portugal
532.70 EUR is the processing fee when submitting the application followed by 5324.60 EUR per person.The 2 renewals are charged with 2666.30 EUR each, plus 532.70 EUR processing fee. On top of it, there are the legal fees up to 30000 EUR and expenses for legalization and translation of supporting documents.
Should I Apply For The Golden Visa Or Choose An Alternative Way For Residency
The benefit of the Golden Visa is that you can get Portuguese permanent residency or citizenship without having to live in the country most of the year. Its as if your investment is spending the time in Portugal instead of you for 5 years. It is also the only option if you are not ready to move to Portugal yet, but want to start the clock so to speak towards permanent residency or citizenship. On the other hand, if you are ready to move and want to spend the next five years in Portugal, then alternative ways might be cheaper . Take a look at our comparison of the D7 and Golden Visa for more details.
Webinar Alert: Portugals D7 vs Golden Visa – which one to apply for?
Hosted by: Property Finder Portugal
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How To Get The Golden Visa In Portugal
To get the Golden Visa in Portugal, you must make a qualifying investment usually in real estate or funds and hold the respective investment for five years. To submit your application, it is advised to consult with a Portugal Golden Visa lawyer or Portuguese Golden Visa consultant to see what documentation you need on top of your investment.
Portugal Golden Visa Investment Opportunities Available
Participants eager for immigration to Portugal by investment will contribute financially to either of the succeeding options:
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Golden Visa Cyprus With 300000 Property Investment
Permanent Residency 300,000. EU Citizenship 2.0 million
Cyprus offers two golden visa programs through real estate investment. One for permanent residency and one for citizenship. The two Cypriot immigration investment schemes are fast and efficient at granting a residency permit and second passport. Cyprus is a full member of the European Union and English is widely spoken on the island.
Permanent Residency Cyprus
Applicants can secure permanent residency in Cyprus through investment in real estate. The programme is one of the fastest and simplest investor visa programmes in Europe. It requires investment of just 300,000 into property to gain the Cyprus residency permit.
The residency visa is granted within two months and covers the whole family. It includes parents of both the main applicant and spouse plus dependent children up to the age of 25. It is valid for life and can be passed down to dependents and spouse.
The permanent residency programme offers ease of travel throughout the European Union and requires just one visit to Cyprus by all family members once every two years.
The investment may be made by a company for which the main applicant and spouse are beneficial owners. The investment can be in to a maximum of two properties provided they reach the 300,000 permanent residency limit. The properties purchased must be brand new.
Citizenship by Investment Cyprus:
What Types Of Investments Are Allowed Under The Portugal Golden Visa
The three most popular types of investments that qualify for the Portugal Golden Visa are:
- Acquisition of touristic property
- Transfer of funds above â¬ 1,500,000
- Creation of at least 10 jobs in Portugal
Please note, only investments made after 8th October 2012 are eligible for the Portugal Golden Visa and you only need to make of these investments
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Saint Lucia Citizenship By Investment Lto Ending
In a response to the pandemic, Saint Lucia introduced a new investment route in May 2020 named the Covid-19 Relief Bond. Applicants choosing this route are required to invest a minimum of $250,000 for a single applicant or $300,000 for a family of four. The bonds, which are at 0% interest need to be held for five years and following this period, can be liquidated. The programme, which has proved very popular, was originally due to expire in December 2020, but the Government decided to renew the limited time offer for a further year. We are now just three months away from the expiry date. There are no announcements yet from the St Lucian Citizenship by Investment Unit whether they will extend it again, or it will expire as planned, but according to information on the official CIU website, the programme is still stated to expire as of December 2021. If you are considering this route, now could be the last opportunity to apply.
Saint Kitts And Nevis Citizenship By Investment Lto Ending
Saint Kitts has also been running a Limited Time offer over the last year which is due to expire in December 2021. The offer allows families of up to four individuals to apply for citizenship with a reduced contribution of US$150,000 into the Sustainable Growth Fund, as opposed to US$195,000. This offer makes Saint Kitts one of the most affordable options in the Caribbean for families of four. Again, there has been no official announcement from the Saint Kitts CIU yet on whether the offer will be extended or expire, but the governments website still states an expiration date of December 2021.
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What Are The Portugal Golden Visa Tax Requirements
As a Golden Visa applicant, you do not necessarily have to be a tax resident in Portugal or pay tax on your income from outside of Portugal.
Golden Visa applicants can also become tax residents in Portugal and benefit from the non-habitual resident tax regime , which can greatly economize your taxes.
For more information about the NHR tax regime, .
Golden Visa Portugal With 500000 Property Investment
The Portugal Golden Visa program has proven to be the most popular scheme in Europe with investors attracted to its flexibility and benefits. Launched in 2012 the investor visa program has been actively promoted internationally by the Portuguese government. An investment of 500,000 in real estate in Portugal will gain a residency permit for a family including dependent children. The golden visa can be renewed every two years providing the applicant spends two weeks in the country every two years.
Permanent Residency and Citizenship:
One of the most attractive options is to apply for permanent residency after 5 years and citizenship after 6 years without the need to reside in Portugal. In fact, the applicant and their family need only visit for two weeks every two years in order to renew the Portuguese Golden Visa. Citizenship of Portugal and a second passport conveys the right to live, work and study anywhere in the European Union.
- Naturalize for citizenship after 6 years.
- No taxes unless you live 183 days in Portugal
- No interviews, No language tests
- Immigrate to Europe with family and children.
- Travel freely in Schengen including Switzerland, Germany etc.
- Qualify for Portugese PR after 5 years of living
What Is The Minimum Investment Amount For A Private Equity Investment
The minimum investment amount is currently 350,000, but it is set to change. The most attractive benefit of an investment fund is that it is completely hands-off as it is classified as a financial instrument and not the same as owning bricks and mortar. Although all property owners do contract the service of a property manager, owning a share is less onerous.
Portugal Transit Visa Requirements
You will have to apply for a Portugal Transit Visa if you are a seafarer that needs to disembark at one of the Portuguese harbours to embark on another vessel that will take you to your non-Schengen destination country, or if you are a seafarer travelling to Portugal.
Required Documents for a Transit Schengen Visa to Portugal
When applying to obtain a Portugal Transit visa, you must provide the following additional documents:
- A valid visa for the final country you are travelling to.
- The ticket for the final country you are travelling to.
- Original and photocopy of Seamans book .
- Letter from the inviting Shipping Company. Issued by the inviting Shipping Company in Portugal .
- Employment contract. Contract with the navigation company/ship in order to board the ship .
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What Are The New Changes In The Golden Visa Program
No worries. By now nothing has changed. If you are in the middle of the process or have it started you will still have time. The new rules will not have any effect on the investments made in 2021. Our lawyers are already working to build a safe timeline of investment.
When will it have an effect?
The new rules will be valid for investments made from . Until there you can still consider all the options of investments.
What are the new options for citizenship by investment?
The following options meet the criteria for citizenship by investment in Portugal from January 2022:
- The purchase of a habitational real estate in Portugal of at least 280.000 EUR will be valid for the program if it is in the Autonomous Regions of the Azores and Madeira or in theinterior territories. You can also verify the areas of low-density on our site.
- You can still invest in service or industrial real estate in the cities or the coastal regions after 2021
Should I Work With A Lawyer To Obtain The Portuguese Golden Visa
I would definitely recommend that you do. Youre making a sizable investment to gain Portuguese residency , so I wouldnt recommend taking any chances during the application process. While the lawyer fees arent insignificant, they are much cheaper than making some formal error, making a bad investment, or one that ends up not qualifying.
Many law firms charge upwards of 4,000-6,000 for the primary applicant. There are also cheaper options, but its worth asking if certification of documents, translations into Portuguese, and/or tax representation is included. The application for dependents is cheaper and averages often between 1,000-2,500. The renewals of Golden Visa for the main applicant average around 2,000-2,500.
Expect to pay up to 20,000-30,000 in lawyer fees for a family of four when hiring one of the more expensive firms.
If you need help finding experienced and well-priced Portuguese lawyers, here we have compiled a list of the most popular legal service providers among Nomad Gate readers.
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When To Start Applying For A Portuguese Mortgage
It is best to start applying for a mortgage in Portugal as early as possible on your property acquisition journey. You do not necessarily have to have decided on the property you will acquire. Starting early will prepare you for how much the down payment and other terms will be. This way, you can find out if you can afford the prospective properties or not.
What Is The Portugal Golden Visa
The Portugal Golden Visa Program, also known as the Residence Permit Program is a five-year residency-by-investment scheme for non-EU nationals. Its part of Portugals immigration move to welcome investors in the country.
From its mesmerizing Atlantic coastline and luscious landscapes to its year-round sunshine, Portugals charm is irresistible. The golden visa grants qualifying investors and their family members the right to live, work and study in Portugal and permits free movement in Europes Schengen Area.
Opportunities to become a permanent resident or citizen are possible, provided that the qualifying investment is kept for at least five years, and that all requirements set forth by the Portuguese immigration and nationality laws are obeyed.
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Should I Avoid Certain Firms Offering Golden Visa Services
While this might be a leading question, the answer is definitely YES!
Some firms are taking advantage of Golden Visa applicants by offering investment options that both look nice on paper and meet the minimum investment amounts. What they fail to mention, however, is that they are selling it far above the current market value.
Its not uncommon to see firms offering properties to Golden Visa applicants for the convenient sum of 500,000 that in reality is barely worth 400,000-450,000.
Thats how these firms might offer you a great deal on their legal or advisory fees. However, in reality, youre paying much more than you would if you sourced the investment independently and used an independent law firm for your application process.
You should also consider hiring an independent buyers agent to make sure you make the best possible real estate investment. Youll find several experienced buyers agents here.
What Are The Changes To Golden Visa In Portugal
There are two significant aspects that changed in the program.
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How Long Does It Take To Get A Portuguese Visa
The processing time for a Portugal short-stay visa is a minimum of 2 weeks. Still, according to your specific situation, this period may be extended up to 30 days. Exceptional cases may take up to 60 days, since the Portuguese embassies may have to consult with other Schengen consulates.
The processing time for nationals of several countries takes at least 3 weeks. These countries are: Afghanistan, Algeria, Bangladesh, Belarus, Cameroon, Central African Republic, Chad, DR Congo, Egypt, Iran, Iraq, Jordan, Kenya, Lebanon, Libya, Mali, Mauritania, Morocco Niger, Nigeria, North Korea, Pakistan, Russian Federation, Rwanda, Saudi Arabia, Somalia, South Sudan, Sri Lanka, Sudan, Syria, Tunisia, Uzbekistan, Vietnam and Yemen.
To avoid any delay in the issuance of your Portuguese short-stay visa, you should submit your application as soon as possible, though no earlier than three months before you travel to Portugal.