Comprehensive guide to Portugal Golden Visa

How to Get a Portugal Golden Visa in 2024

Introduction to the Portugal Golden Visa

The Portugal Golden Visa offers non-EU investors a short 5-year pathway to European citizenship via a country known for its rich cultural heritage, stable economy, and high quality of life.

Investors and their families can also enjoy the benefits of living in Portugal such as free healthcare and education, and visa-free travel within the Schengen Zone.

It’s an appealing option for those looking to secure a passport in Europe with minimal time spent away from home.

Table of Contents

  1. What’s New in 2024: Updates to the Golden Visa Portugal
  2. Eligibility Criteria for the Portugal Golden Visa
  3. Benefits of the Portugal Golden Visa
  4. The Portugal Golden Visa Application Process: Step-by-Step
  5. Living in Portugal: Lifestyle and Benefits
  6. Golden Visa Portugal Renewal and Path to Citizenship
  7. Comparing Alternative Golden Visas
  8. Conclusion: Is the Portugal Golden Visa Right for You?

What’s New in 2024: Updates to the Golden Visa Portugal

In 2024, the Portugal Golden Visa program will see significant changes, especially in how it processes residency applications for citizenship.

  • A major update to the Nationality Law now permits the period between applying for and receiving a temporary residency permit to count towards the time requirement for citizenship.
    • This change means the quicker an application is submitted, the faster you’ll become an EU citizen.
  • Also, the Portugal Golden Visa program no longer accepts real estate purchases or capital deposits as qualifying investments.
  • These are positive moves for applicants:
    • Streamlining the process
    • Removing dubious investment options
    • Acknowledging the time spent waiting due to administrative delays

More than 136 investors like you have secured Portugal Golden Visas through Pela Terra.

The one thing they have in common? They started here 👇

Eligibility Criteria for the Portugal Golden Visa

Golden Visa Portugal Investment Criteria

To qualify for the Portugal Golden Visa, you can choose from several investment options:

  1. Fund Subscription (Most Popular Route): Invest a minimum of €500,000 in a qualified investment fund, such as a private equity or venture capital fund like Pela Terra II: Regenerate.

    This single investment can secure Golden Visas for your entire family, including your spouse, dependent children, and even dependent parents.
  2. Arts, Culture, and Heritage: Contribute at least €250,000 to support the arts, reconstruct or preserve Portugal’s national heritage.
  3. Scientific Research: Advance Portugal’s scientific and technological landscape with a contribution of at least €500,000 to research in these fields.
  4. Job Creation: Establish a business in Portugal that creates and maintains at least 10 jobs during the required period – approx. 7 years.
  5. Company Incorporation and Employment: Incorporate a new company or reinforce an existing company’s share capital with an investment of at least €500,000.

    To qualify, the company must be headquartered in Portugal and create at least five new permanent jobs or maintain ten existing positions.

Minimum Stay Requirement

Portugal offers one of the lowest stay requirements in the world at only 5 weeks over 5 years. In reality, this is broken down as:

  • 7 days in the first year of residency
  • 14 days cumulative across years 2 & 3
  • 14 days cumulative across years 4 & 5

Application for Citizenship

After five years with your Portugal Golden Visa, you and your family become eligible to apply for a Portuguese passport, which you can keep forever, without any conditions. It can also be handed down to future generations.

You can now enjoy all the benefits of being an EU citizen.

Benefits of the Portugal Golden Visa

  • Live and work in Portugal, one of the safest countries in the world.
  • Travel freely within the Schengen Area.
  • Enjoy free healthcare and education in Portugal.
  • After five years, you can qualify for citizenship or permanent residency.
  • Benefit from significant tax efficiency.
  • Join one of the most reputable Golden Visa programs in Europe. Over 12,000 investors have successfully secured their Golden Visas.

Investing in Pela Terra II: Regenerate provides your pathway to EU citizenship and contributes to sustainable agriculture and environmental regeneration. Learn More Here.

The Golden Visa Portugal Application Process: Step-by-Step

  1. Pick Your Investment: Your chosen investment is a pre-requisite to you and your family being eligible for the Portugal Golden Visa.
  2. Get a Lawyer: You’ll need a lawyer to help you with all the paperwork, including obtaining your tax ID (NIF) and bank account. Expect this to take about 4 to 6 weeks to complete.

    Learn about the importance of hiring an experienced lawyer.
  3. Open a Portuguese Bank Account: To make your investment, you must open a custodial bank account in Portugal.

    Due to IRS regulatory compliance, US investors have a limited number of banks to choose from. Contact us for free advice on your options.
  4. Submit Your Application: With your lawyer’s help, complete the Portugal Golden Visa application and submit it with your proof of investment and criminal background check.

    The initial application process usually takes about 6 weeks.
  5. Plan a Visit to Portugal: Once instructed by AIMA (the Portuguese immigration agency), visit Portugal for a biometrics appointment to scan your fingerprints and verify your details.
  6. Receive Your Golden Visa: After biometrics appointment, you’ll get your Golden Visa. You’re now on your way to EU citizenship.

    You can also freely live in Portugal and benefit from borderless travel across the EU.
  7. First Check-In: In year one, you are required to visit Portugal for at least 7 days. After this, you’ll only need to be in Portugal for at least 14 days every two years.

    This means you can spend more time at home and still gain EU citizenship.
  8. Apply for Citizenship or Permanent Residency: After holding your Golden Visa for five years, you and your family can choose to become permanent residents or citizens of Portugal. Portugal accepts dual citizenship, allowing you to keep your existing passport(s).

    Anticipate the processing of your passport to take around 6 to 8 months.

The journey from initial application to obtaining a Portuguese passport takes approximately 7 years: 1 year for the initial Golden Visa application, 5 years of holding the visa and meeting residency requirements, and 1 year to process the citizenship application.

  1. Enjoy Your Benefits: You can now live, work, and study in Portugal or any other EU member state, such as France, Spain, or Ireland. Your citizenship can also be gifted to future generations of your family.

Remember, each step might take some time. It’s important to be patient. Working with experienced professionals like lawyers can make the process smoother.

If you would like an impartial introduction to law firms Pela Terra’s investors have enjoyed great success with, get in touch today.

AI scene of Portuguese coastal town for Portugal Golden Visa article

Living in Portugal: Lifestyle and Benefits

Portugal is like a hidden gem in Europe. Imagine being a citizen of a place where the sun shines for 300 days a year, where people welcome you with open arms no matter where you’re from, and where you can enjoy some of the tastiest food by the Atlantic Ocean or Mediterranean Sea.

That’s what life in Portugal is all about!

Here are some cool things about living in Portugal:

  • Tax Perks: Firstly, there is 0% tax on capital gains from investment funds for non-tax residents.

    However, if you decide to move to Portugal, you can benefit from the Non-Habitual Resident (NHR) program.

    NHR is a special tax regime that offers reduced or zero tax rates on various types of foreign income, like pensions, capital gains, rental income, and self-employment earnings. You can enjoy these benefits for 10 years, as long as you qualify.

  • Super Safe: Portugal is ranked as the 7th most peaceful country in the world according to the 2023 Global Peace Index.
  • Friendly Folks: Portuguese people are known for being super friendly. They make everyone feel at home.
  • Free Education and Healthcare Access: In Portugal, you can get top-notch education and healthcare, not just for you but for your whole family. And guess what? It’s free!
  • Sunny Days Galore: With 300 days of sunshine each year, there’s always a good day to play outside, hit the beach, or enjoy nature.
  • Delicious Food: Portuguese food is all about flavor. From fresh seafood to sweet pastries, there’s something for everyone.
  • Visa-Free Travel: A Portuguese passport – ranked no. 3 in the world – allows you to travel to 191 countries visa-free or visa-on-arrival. Imagine splitting your vacation between Paris and London, or even staying in Lisbon!
  • Cheapest Western European Living: Despite all its perks, Portugal has the lowest cost of living in Western Europe. This means you can enjoy a fantastic lifestyle without breaking the bank.

So, living in Portugal isn’t just about the beautiful beaches or the sunny days. It’s about feeling safe and welcomed and having access to everything you need for a happy life.

Plus, with the Portugal Golden Visa and attractive tax benefits, you and your family can enjoy all these benefits while being on the path to becoming full European citizens.

Golden Visa Portugal Renewal and Path to Citizenship

Getting your Portugal Golden Visa renewed and moving towards becoming a citizen might seem like a big task, but it’s actually pretty straightforward.

Here’s how you do it:

  1. Keep Your Investment Going: Firstly, you need to maintain your investment in a fund, such as Pela Terra II: Regenerate. This is key to keeping your Portugal Golden Visa.
  2. Visit Portugal Every Two Years: To renew your Golden Visa in Portugal, you should visit at least once every two years.

    You don’t have to stay long – just 14 days is enough. This helps you build up the time needed to apply for citizenship.
  3. Pay Renewal Fees: In years 2 and 4, you are required to renew your Golden Visa Portugal – don’t worry, your lawyer can take care of this.

    One of the great benefits of investing in a fund is that the returns should cover your renewal costs, meaning you are never out of pocket.
  4. Stay Patient for Five Years: After holding your Portugal Golden Visa for five years, you and your family can apply for a Portuguese passport.

    This passport is yours forever, with no strings attached.
  5. Enjoy Your New Rights: Once you’re a Portuguese citizen, you can live, work, and travel freely in all the countries of the Schengen Area.

    Plus, you get access to free healthcare and education in Portugal.

Comparing Alternative Golden Visas

This section will be continually updated.

Conclusion: Is the Portugal Golden Visa Right for You?

Deciding if the Golden Visa is the right choice might seem tricky, but it ultimately comes down to what you want for your future and your family’s future.

Here’s why the Portugal Golden Visa could be a great choice:

  • You Want to Live in Europe (but not yet): If dreaming about living in a peaceful, sunny place with friendly people and delicious food sounds like you, then Portugal might be your dream come true; especially if you’re not ready to move but you want to keep your options open.

  • You Like the Idea of Easy Travel in Europe: Imagine being able to hop on a train or a short flight to explore another country anytime you want. That’s possible with the Golden Visa because you can travel freely in the Schengen Area.

  • You’re Looking for Safety and Stability: Portugal is super safe and offers a stable environment for you and your family. Portugal is a tolerant, multicultural country with a welcoming attitude to all. Plus, you get access to great healthcare and schools.

  • You Want to Invest in Something Meaningful: Your investment in Pela Terra II: Regenerate doesn’t just help you get the Portugal Golden Visa. It also supports sustainable farming and helps the environment. It’s a way to make your money do some good in the world.

  • You’re Thinking About the Future: Whether it’s for tax benefits, education for your kids, or planning your retirement, the Portugal Golden Visa can help set you up for a bright future.

In the end, Portugal’s Golden Visa is more than just a visa; it’s a chance to start a new chapter in your life in one of Europe’s most beautiful countries.

If these benefits sound like what you’re looking for, then the Portugal Golden Visa might just be the perfect match for you.

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