By Harvey Law Group   Since October 2012, to attract foreign investors to Portugal, the Portuguese Authorities started offering entrepreneurs and investors the opportunity to apply for a “Golden Visa”. This residency-by-investment program is one of the most attractive in the world, giving foreign investors the chance to attain a residency status in exchange for legitimate monetary investments.  There are different ways to qualify for a Golden Visa in Portugal. It is important to understand each one so you can better decide which one suits your needs. For example, for those wishing to go with the more traditional route, which is purchasing a piece of real estate worth at least EUR500,000, it is to note that the processing time is well over a year. In light of this potential delay and period of uncertainty, several investors are shifting for another option: to invest in a dedicated fund for EUR350,000. Not only it is more affordable, but it is also faster and hassle-free compared to buying a property.   Here’s a quick overview of the two top options you can explore if you wish to get a Golden Visa in Portugal:   The Traditional Route: Purchase of Real Estate Applicants must purchase a minimum of EUR500,000 (plus taxes) in real estate. It could be one property or multiple properties depending on the desire of the applicant. What’s good to know is that all types of property qualify as long as it is utilized, which means the property must be used or rented out. The property will need to be held for at least 5 years from the moment of submission.    The Alternate Route: Investing In Funds For those who are looking for a more affordable and faster route to a Golden Visa in Portugal, applicants can invest a minimum of EUR350,000 in a Portuguese investment fund with a minimum holding period of 5 years. A minimum of 60 percent of the investment will be used for Portuguese companies and fix returns are guaranteed.    Advantages Of Getting A Golden Visa In Portugal

  1. Securing a Golden Visa gives foreign investors and their family (especially those from non-EU countries) a fast track towards a residency permit in Portugal.
  2. Successful applicants can enter, live, work, and play in Portugal without the need to secure a visa every time.
  3. It allows the investor to travel freely in the Schengen area and can even include spouse, dependent children, and parents.
  4. Investors are eligible to apply for a Permanent Residence or Citizenship after 5 years.

What Are The Requirements For The Golden Visa?

  1. Investors need to make a qualifying investment in real-estate or a qualifying Portuguese investment fund and must keep that investment for a minimum of 5 years
  2. The funds for investment must come from abroad
  3. Applicants must show proof of having no criminal record
  4. Applicants must meet these residency requirements in Portugal: 7 days during the first year and 14 days in each subsequent two-year period.

Obtaining Permanent Residence  After holding the Golden Visa for at least 5 years, successful applicants will become eligible to apply for either Permanent Residency or Citizenship. Here are the requirements for you to get a Permanent Residency:

  • Have met the minimum residency requirements for 5 years
  • Kept a clean criminal record 
  • Have sufficient funds and a place of residence in Portugal
  • Proof of Portuguese language proficiency (CEFR A2)

Obtaining Portuguese Citizenship  Having Portuguese citizenship means being European and therefore having unrestricted right to live, work, do business, and study in Europe and access to free education within the European Union (EU). Moreover, it comes with visa-free travel to the US and Canada. Here are the requirements.

  • Have met the minimum residency requirements for 5 years
  • Kept a clean criminal record
  • Have sufficient funds and a place of residence in Portugal
  • Proof of Portuguese language proficiency (CEFR A2)
  • Must show a close connection to Portugal

Are You Ready To Make That Investment? If you wish to learn more about securing a Golden Visa in Portugal, contact your Harvey Law Group representative today:     Mr. Samuel Harvey sharvey@harveylawcorporation.com Harvey Law Group

 

 

About Harvey Law Group HLG is a leading multinational law firm specializing in corporate law and investment immigration with a worldwide reputation for representing high-profile clients and corporations, with over 19 offices worldwide. As the top immigration law firm, HLG offers the most comprehensive residency and citizenship programs available to date. HLG was awarded for Immigration Law Firm of the Year at the 13th and 16th annual Macallan ALB Hong Kong Law Awards 2014 and 2017.