European Residency Through Portugal's Golden Visa Program

19/10/2024

With the growing variety of residency programs across Europe, securing a green card to live on the continent has become increasingly accessible for investors. Portugal's Golden Visa program, introduced in October 2012 and refined in June and September 2015, stands out as a particularly attractive option, offering a swift and straightforward route to Portuguese residency. This program also extends unique benefits to the investor's family across three generations, granting them the freedom to travel, work, and settle in other advanced European countries.

Benefits of the Portugal Golden Visa

Portugal is consistently recognized as one of the world’s safest and most desirable places to live. Obtaining a residence permit through the Golden Visa program opens up a range of valuable benefits:
- The freedom to live, study, and work in Portugal.
- Visa-free travel throughout the Schengen Area.
- Eligibility for permanent residency or citizenship after five years, upon meeting necessary requirements.
- Access to public healthcare and free education, enjoying similar rights as Portuguese citizens.

Investment Options

Portugal’s Golden Visa program offers a variety of investment options, with a minimum investment requirement ranging from €250,000 to €1 million:
- Fund Investment: Transfer a minimum of €500,000 to acquire units in investment or venture capital funds, with a holding period of at least 5 years.
- Capital Transfer: Transfer at least €1 million in capital.
- Cultural Contribution: Transfer a minimum of €250,000 to support the arts or preserve Portugal’s national heritage.
- Business Investment: Transfer at least €500,000 to establish a new company or strengthen the capital of an existing business in Portugal, creating at least 5 full-time jobs for a minimum of 3 years.
- Research Contribution: Transfer €500,000 or more to fund scientific or technological research conducted by public or private institutions integrated into Portugal’s national research system.
- Job Creation: Create at least 10 jobs for Portuguese citizens.

Requirements for Investors

Must be at least 18 years old.
Have a clean criminal record.
No record of denied entry to the EU.
Maintain the investment for a minimum of 5 years to obtain permanent residency.
Meet required residency (7 days per year for the first year and 14 days per year for every subsequent 2-year period).

Processing Steps

Step 1:
- Apply for a Schengen visa and visit Portugal.
- Complete necessary formalities, including opening a bank account, securing tax identification, and signing a Power of Attorney.

Step 2:
- A lawyer will represent the investor in completing the acquisition and registration of the investment property.
-The investor transfers the funds to finalize the real estate purchase.

Step 3:
- The lawyer prepares and submits the required documents to the Immigration and Borders Service (SEF).

Step 4:
- Undergo biometrics and an interview in Portugal.

Step 5:
- Obtain formal approval from SEF and receive a temporary residence permit valid for 1 year, renewable for two additional 2-year periods.

Permanent Residency

To achieve permanent residency in Portugal, investors must:
- Hold a temporary residence permit and maintain legal residency in Portugal for at least 5 years.
- Retain ownership of the investment property for 5 years.
- Have no criminal record during the residency period.
- Demonstrate a connection to Portugal.
- Achieve A1 level Portuguese proficiency.

Citizenship

To obtain Portuguese citizenship, in addition to meeting the requirements for permanent residency, investors must achieve A2 level proficiency in Portuguese and provide relevant certificates as outlined in Clause 2 of Article 25 of Decree-Law No. 237-A/2006, amended by Decree-Law No. 26/2002 on Portuguese nationality. Portugal allows dual citizenship and has a treaty to avoid global taxation. Holding a Portuguese passport means becoming an EU citizen, allowing the investor and their family to freely travel, study, and work in EU countries, enjoy visa-free travel to over 175 countries worldwide, and access healthcare and educational benefits as EU citizens.

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