Conditions, advantages and stages of obtaining a golden visa for Portugal. How to buy the right to live in the country with investments from €350 000 in real estate and business.
The country of vineyards, cobbled streets and snow-white beaches attracts thousands of tourists from all over the world. But Portugal can become not only a vacation destination, but also a new home for wealthy foreigners. The golden visa program opens great prospects for moving to a country with a mild Mediterranean climate, developed economy and infrastructure.
Conditions for Obtaining a Golden Visa in Portugal
In order to be eligible to reside in Portugal under the golden visa program, it is necessary to meet certain selection criteria:
- the visa is issued only to non-EU citizens who have reached the age of majority;
- having a proven net worth of at least 350,000 euros;
- purchase of real estate in the territory with a value of 500,000 euros or more;
- making investments in the economy from 250,000 euros by buying shares, bonds, investments in business and other ways.
To get a visa, it is necessary to prepare a package of documents that includes:
- an application form of the prescribed form in Portuguese;
- a bank statement confirming the availability of the required amount of funds;
- documents confirming the ownership of real estate;
- a certificate of no criminal record from the country of origin.
The cost of applying for a golden visa is:
- 350,000 euros for the main applicant;
- 80,000 euros for the spouse;
- 50,000 euros for each child under the age of 18.
The validity of the visa is 5 years with the possibility of multiple extensions subject to confirmation of eligibility.
The Main Advantages for Portugal Golden Visa Holders
Obtaining a golden visa of Portugal under the program provides a number of important advantages for holders:
- The right to reside in Portugal without the need to apply for additional residence permits and authorizations. The ability to stay permanently on the territory of the country.
- The possibility to conduct business activities and investments in Portugal on the territory of Portugal on an equal basis with the citizens of the country.
- Access to the health care and education system under the same conditions as for Portuguese citizens. Ability to receive medical care and education in schools and universities.
- The right to visa-free entry to all Schengen countries. Ability to visit any of the 26 Schengen countries without a separate visa.
One of the most important advantages of the golden visa is the prospect of applying for a Portuguese residence permit for investment after 5 years of stay. This opens the way for further obtaining a residence permit and subsequently citizenship if the necessary conditions of the program are met.
Stages of Obtaining a Golden Visa of Portugal
The process includes several stages:
- Submission of the package of documents to the consulate at the place of residence and consideration of the documents by the authorized bodies. The period of consideration is about 3 months.
- Passing a personal interview after approval of the application. It is necessary to confirm your data and availability of funds.
- Receipt of the golden visa within 2 weeks after approval of the application and successful completion of the interview.
After getting the visa, it is necessary within the first year:
- Open a bank account in Portugal.
- Take out health insurance valid in the territory of the country.
- Spend at least 7 days in Portugal in person to activate the visa.
- Apply for a residence permit after 5 years of golden visa validity.
Obtaining a golden visa of Portugal is an opportunity to acquire a prestigious resident status and a high standard of living in a country with developed infrastructure and favorable climate. If the necessary conditions of the program are met, it opens the way to residence permit and citizenship.