What is the Portuguese Golden Visa?
The first instalment in a series of articles exploring Portugal’s hugely popular Golden Visa programme.
Before we dive straight into the Golden Visa Funds it might be helpful for us to explain the core concept of the Portuguese Golden Visa programme first. If you’re already familiar with the Golden Visa then feel free to jump into an exploration of Golden Visa Funds.
The Golden Visa is a Citizenship By Investment programme which allows non-EU nationals to obtain Portuguese residency and citizenship through various investment channels. Those who hold a Portuguese Golden Visa are granted the freedom to live, work and study in Portugal and throughout Europe as well. After five years, applicants are also eligible to apply for Portuguese citizenship.
The Golden Visa was introduced in Portugal in 2012 and has been extremely popular with applicants from all over the world. During the past eight years, Golden Visas in Portugal have been granted to approximately 9,000 applicants and a further 16,000 to their family members while the total value invested exceeds €5.6 billion.
Let’s take a look at the infographic below which highlights the main reasons why the Golden Visa has been so attractive to investors:
The Golden Visa Application Process
Step 1: Get Prepared
You will need a lawyer and fiscal representative to help guide you through this process. Your lawyer will make sure you have all the necessary paperwork and navigate through the Golden Visa application process. Your fiscal representative will help with tax preparation and is crucial for the next step. This can be done remotely.
Step 2: NIF & Bank Account
Your NIF (Numero de Identificacao Fiscal) is basically your tax ID number. Your fiscal representative will help get you one assigned which will then allow you to open a Portuguese bank account. This bank account is where you will eventually deposit your investment funds coming from outside of Portugal. This can also be done remotely.
Step 3: Invest & Submit GV Application
After you’ve carried out sufficient research and decided which Golden Visa investment suits you best, you will proceed with the investment (e.g. real estate or a Golden Visa investment fund). Your lawyer will then proceed with your Golden Visa application. This can also be done remotely.
Step 4: Interview & Biometrics
Once your application has been submitted with all the relevant documents, SEF will invite you for an interview (to make sure the info provided matches reality) and you’ll need to give your biometrics (photos, fingerprints, etc). The appointment is usually set 2–3 months after the application is submitted and you’ll need to travel to Portugal for this step.
Step 5: Receive Golden Visa
Following your appointment at SEF, it takes 4–6 months for the authorities to review all the information and issue your Golden Visa. Your lawyer will be notified and you’ll be required to pay the Golden Visa application fees. This payment can be done remotely and your Golden Visa can be posted to you so that you can use it for your next visit.
Golden Visa Timeline
The flow below shows the key stages in the 5-years that an applicant is required to hold the Golden Visa, meet the minimum stay requirement and maintain the investment.
It’s essential to meet all of the criteria throughout the full 5-year period in order to be able to renew your Golden Visa and eventually apply for permanent residency and/or citizenship.
There are online resources where you can find more detailed information about the documents required for a Golden Visa application and the application costs themselves.
