What is a Golden Visa and what are the benefits and conditions for obtaining one. A guide to better understand the procedure to the Golden Visa.
The Golden Visa is a program developed in 2012 by the Portuguese government which allows for the permanent residency in Portugal by foreign investors not belonging to the European Union.
The permanent residency allows for the free movement within the Schengen area. After five years, that same investor can obtain Portuguese citizenship.
After five years, the investor and holder of a Golden Visa can apply for Portuguese citizenship.
A Portuguese citizenship is a European citizenship and it allows you to enjoy the same rights and duties of every European citizen. Dependent persons, including children or parents of the Golden Visa holder are also eligible to the same perks.
One of the best benefits of this program is the liberty it offers when choosing where to invest, allowing for the investor to take advantage of the excellent opportunities the Lisbon real estate market offers.
The potential beneficiary of a Golden Visa must hold a qualified real estate investment for at least five years. Financial funds sourced for the acquisition must come from outside of Portugal.
Some documents are naturally required.
Certificates - of birth or marriage - when applicable to direct dependents of the potential investor, a clean criminal record and a valid Schengen visa upon entering Portugal are indispensable to the process.
The potential beneficiary must also open a Portuguese bank account and acquire a Portuguese tax number (NIF - Número de Identificação Fiscal).
The process requires the investor to stay in Portugal for a minimum of seven days during the first year, and a minimum period of 14 days during the following years – consecutively or non-consecutively.
What this means is that most of the property acquired can be used as a home vacation, or rented in the short, medium or long term.
This is an option largely adopted since it allows for the financial returns of the funds invested when acquiring a Golden Visa. There is also the possibility to choose a non-habitual resident tax regime and obtain some tax benefits for a period of 10 years.
Property Lisbon has experienced and specialized partners to accompany you throughout the process of obtaining your Golden Visa.
Although Portugal offers a wide variety of business opportunities, the real estate business continues to be the most popular and flexible option.
For this option, the minimum investment is of €500.000. This is the privileged type of investment of our clients, and the most successful residency by investment program in Europe.
It is important to clarify three characteristics.
It is possible to invest in any number of properties, as long as the investment totalizes or surpasses €500.000.
Furthermore, the investment may be made by an individual or a joint investment. That is to say a minimum of two investors can acquire one or multiple units together, as long as both invest a minimum of €500.000.
Portugal also grants access to the Golden Visa through a minimum investment of €350.000. For this level of investment specific rules apply.
The property to invest in must be located in an urban rehabilitation area with the property having been built over 30 years ago. These are real estate properties that are in need of thorough renovation works to be in charge of the investor.
This type of investment is less expensive, but thought out for the medium to long term. Many of these properties can be found in prominent and trendy areas of Lisbon.