Yes Portugal still has a Golden Visa residency program, although with the new laws introduced under the new housing measures “Mais Habitação” bill in parliament, it is now completely off the table for any type of real estate acquisition since October 2023.
The recent revisions made to the Golden Visa programme are bound to have an impact, which is to be expected when considering the real estate investment option was a prevailing trend and primary choice. However, as with any changes, the market will need to adapt, not only in terms of providing alternative offerings, but also by introducing innovative and refined projects in various sectors where the country currently requires investment, such as the environment, technology, culture, and education.
So in case you are still wondering what exactly is Portugal’s Golden Visa residency program, and missed the opportunity to purchase your home under the old regulations and enroll in the program, this post will hopefully shed some light, and help you decide if it is still the perfect residency program for you.
Portugal’s Golden Visa residency program, and officially called the ARI (Autorização de Residência para Atividade de Investimento - Authorization for Residency for Investment Activity), the Golden Visa residency program, is today still the most attractive and successful citizenship by investment or residence by investment program in Europe.
One of the main advantages of Golden Visa in Portugal is that its requirement for length of stay in the Lusitano country is very low.
It is necessary to spend only 7 days on average over the 5 year period.
After 5 years with ARI, the program offers a path to citizenship and the Portuguese passport.
Because of this, it is considered the treasure at the end of the rainbow for people who want to enjoy the benefits of living in European Citizenship, even without living there permanently.
Main benefits of Golden Visa Portugal
❖ Freedom to live in Portugal;
❖ Free pass to travel in Europe despite the limitations of the new ETIAS (European Travel Information and Authorization System), which came into force in 2024 (from now on, Americans wishing to travel in Europe will need an authorization);
❖ After five years, the holder of the ARI (Gold Visa) can apply for Portuguese citizenship;
❖ Dependent children and parents also qualify for the same benefits;
❖ Need to spend only 7 days a year in Portugal the first year, and 14 days a year in subsequent years;
❖ Variety of investment options for asset diversification;
❖ Security of a second residence in a safe and stable country;
❖ Window of opportunities for the applicant and his family.
Access to the Schengen area and the Portuguese passport
When you have your Portuguese Gold Visa authorization in hand, you will be registered in the central Schengen Treaty Area system.
Currently, an American or non EU member can visit the countries of the European Union freely as a tourist for up to 90 days.
However, the European Parliament approved the new ETIAS, a law that requires authorization to travel to the countries that make up the treaty and has entered into force in 2024.
With the Portuguese passport, you will have free access in all European countries, without the need for an additional visa.
Currently, 26 countries are part of the Schengen Agreement.
There are countries that are part of the European Union, but that are not in the treaty.
Permanent residence in Portugal and Portuguese citizenship after 5 years
After five years, you and your family can apply for permanent residence and Portuguese citizenship, with the right to a Portuguese passport.
It is a high-level travel document that allows free transit (without a visa) through 189 countries. Because of this, it is considered one of the strongest passports in the world.
In addition, with the Portuguese passport, you and your immediate family will be able to enjoy all the benefits of a European citizen such as living, working and studying in any country on the continent for a lifetime.
You must fit at least one of the following 5 categories to claim Portuguese residency by investment:
1. Creation of at least 10 job positions;
2. A transfer of capital for research activities carried out by public or private scientific institutions that are part of the national scientific and technological system must be €500,000 or greater;
3. Capital transfers of €250,000 or more can be made as a donation to support the investment or artistic production, recovery, and maintenance of national cultural heritage through public institutes and central or peripheral direct administration services, entities in the public business sector, public foundations, private foundations with public utility status, inter-municipal entities, entities in the local business sector, municipal associative entities and public cultural associations, which develop projects related to artistic production or the recovery and maintenance of the national cultural heritage;
4. Capital transfers in the amount equal to or greater than €500,000, intended for acquiring participation units in investment funds (non-real estate collective investment entities) or venture capital funds focused on the capitalisation of companies, constituted under the Portuguese legislation, with maturity, at the time of the investment, of at least five years and at least 60% of the value of the investment is made in commercial companies based in national territory;
5. Capital transfers in the amount equal or superior to €500,000, destined to the incorporation of a commercial company with headquarters in the national territory, combined with the creation of five permanent jobs, or to increase the share capital of a commercial company with headquarters in the national territory, already existing, with the creation of five permanent jobs or maintenance of 10 permanent jobs, for a minimum period of three years.
Portuguese golden visa holders receive a temporary residence permit for one year. Subsequent visa renewals last for two-year periods. After five years, golden visa holders can then apply for permanent residence in Portugal; after six years, they can apply for Portuguese citizenship.
The Portuguese golden visa scheme also allows family reunification
This permits the following family members to join the golden visa holder in Portugal:
❖ Spouse;
❖ Minor dependent children;
❖ Minor adopted children;
❖ Adult dependent children who are studying;
❖ Dependent parents of either the golden visa holder or spouse;
❖ Minor dependent siblings who are under the guardianship of the golden visa holder.
Family members receive the same rights. They are also eligible for permanent residence after five years and Portuguese citizenship after six.
Portuguese golden visa citizenship and permanent residence
In line with general requirements for all residents, Portuguese golden visa holders can apply for permanent residence in Portugal after five years of residence; they can apply for Portuguese citizenship after six years of residence.
There are certain criteria that need to be met, such as proof of income and accommodation, criminal record requirements, and basic level knowledge of the Portuguese language.
Are you thinking about moving to Portugal and learning more about Europe’s sunniest Country???…Look no further!!!…
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