Portugal Golden Visa Programs

In October 2012, Portugal introduced its Golden Residence Permit for Investment Activity (“Golden Visa”). The Golden Visa has all the benefits of a Schengen Visa, entitling the holder to free movement throughout the 26 Schengen member countries in Europe. Golden Visa holders obtain access to residence permits, as well as to Portuguese citizenship (after 6 years of residency), with advantageous periods of stay in Portugal.

About Portugal

The territory of Portugal includes an area on the Iberian Peninsula (referred to as the continent) and two archipelagos in the Atlantic Ocean. Mainland Portugal is split by its main river, the Tagus River, which flows from Spain to Lisbon before entering the Atlantic Ocean. The northern landscape is mountainous, whereas the south is characterized by rolling plains.

The country has a population of approximately 10,500,000 people, approximately 20% of whom live in the capital city of Lisbon. Other cities and districts include Porto, Braga, Aveiro, Leiria, and Faro. Portugal has a Mediterranean climate and is one of the warmest European countries. The annual average temperature in mainland Portugal varies from 12°C (53.6°F) in the mountainous interior, to over 18°C (64.4°F) in the south and in the Guadiana River basin. Summer’s highest temperatures may be over 45°C (113°F). The official language is Portuguese, and 80% of the population also speaks English.

Most industry, business and finance are concentrated in the Lisbon and Porto metropolitan areas. The districts of Aveiro, Braga, Coimbra, and Leiria are the biggest economic centres outside those two main metropolitan areas. The primary sectors in Portugal are agriculture, fishing and mining. Modern, technology-based industries like aerospace, biotechnology and information technology, have been developed in several locations across the country.

Schengen Membership

Portugal is a member of the Schengen area, which allows Schengen Visa-holders free movement between its 26 member countries. The Schengen Treaty, signed on June 14, 1985, enables the member countries to operate like a single state for international travel, with no internal border controls.

Golden Visa Program Benefits

1. Government processing time is 60 days (after completion of all requirements and file submission to the Government).
2. Each applicant, his/her spouse, and dependents have the right to reside and work in Portugal, and to travel freely in the Schengen area.
   • Dependents include children under 18; older children who are students and financially dependent on the applicant; and parents age 65+ who are dependent on the applicant;
3. There are no restrictions on nationalities (all foreign nationalities may apply, who are not already citizens of the European Union).
4. Portugal offers a high quality of life, including modern business and medical facilities, shopping, natural beauty, sports, cultural events, and a warm climate.
5. There is no age restriction, interview, minimum education requirement, management or business experience requirement, strict net worth, or source of funds requirement.
6. There is no language requirement (although basic Portuguese language will be required to obtain citizenship).
7. The residency requirement is minimal (1 week per year).
8. Applicants can apply for citizenship after 6 years of residency.

Golden Visa Program Qualifications

1. The applicant must possess a valid passport and reside legally in a country.
2. The applicant must be minimum age 25 years (no maximum age).
3. The applicant must not be a citizen of the European Union.
4. The applicant must pass a security background check.

Cost Summary – Portugal Golden Visa Program

The applicant must purchase a property in Portugal at one of the following investment levels:

1. €500,000 (new/urban)
2. €400,000 (new/rural)
3. €350,000 (refurbished/urban)
4. €280,000 (refurbished/rural)

This investment must remain in place for minimum 5 years (or until the applicant obtains citizenship).