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Definitive Guide to the Golden Visa Portugal 2024- FAQ

19 de February, 2024

Definitive Guide to the Golden Visa Portugal 2024- FAQ

Clarify all your doubts about the Golden Visa Portugal: minimum investment amounts, types, requirements, and benefits.
Reading: 7 min

The Golden Visa Portugal Program remains an excellent alternative for those who wish to obtain European citizenship, in this case Portuguese, but do not have ancestors to pass on their nationality. The program, which began in Portugal in 2012, has undergone several changes. The most recent change took place in October 2023, as part of the Mais Habitação package of measures.

This article has all the latest information on the Golden Visa Portugal in force in 2024!

Golden Visa Portugal and Portuguese Citizenship

Officially called the Residence Permit for Investment Activity (ARI), the golden visa program works as a great incentive for those willing to invest and keep assets in Portugal for a minimum period of 5 years. After this period, the investor and their family members can gain access to Portuguese citizenship, provided they meet all the legal requirements. All this without the requirement of actual residence in the country during this period.

The Golden Visa Portugal is considered to be the most advantageous in the world, even when compared to very popular versions such as the Golden Visa Greece and the Golden Visa Spain. The Portuguese alternative still has a wide range of investment options, a broad family grouping concept.

We’ve compiled the most frequently asked questions about the Golden Visa Portugal below, so that there are no doubts about this program, which can be a great option for investors who want to expand their field of activity and open doors to new opportunities in Europe.

Do you want to live in Europe?

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What is the Golden Visa Portugal?

The Golden Visa Portugal is an investment residency program that offers a route to Portuguese citizenship for individuals from outside the European Union. Valid for 5 years, this program allows investors and their family members to reside in Portugal, but only if they so wish, as it only requires a stay of 7 days per year.

What are the main advantages of the Golden Visa Portugal?

  • It offers a variety of investment options;
  • It presents a very attractive minimum investment values;
  • It has a broad concept of family reunification;
  • It allows, but does not require, effective residence in Portugal;
  • It authorizes work in the country;
  • It enables access to Portuguese public health care and education;
  • It grants the freedom to travel to 191 countries around the world without the need for a visa;
  • Allows the application for a Portuguese passport after 5 years of investment.

Changes to Portugal Golden Visa

The main change was the reduction in the investment options considered for granting a residence permit through investment activity. With the aim of tackling real estate speculation in Portugal, options related to real estate are no longer considered eligible and are excluded from the program.

Golden Visa Portugal New Rules

From now on, the following alternatives of investment will no longer be accepted:

  • Capital transfers of 1.5 million euros or more;
  • Acquisition of real estate worth €500,000 or more;
  • Acquisition of real estate, whose construction has been completed for at least 30 years or located in an urban rehabilitation area and carrying out rehabilitation works on the real estate acquired, for a total amount equal to or greater than 350,000 €.

Valid Investment Options | Current Rules

Some investment options have had minor wording changes. The summary below incorporates the recent changes.

  • Investment Funds: a minimum of €500,000.00 in units. They must be intended for the acquisition of shares in non-real estate collective investment schemes, which are set up under Portuguese law, whose maturity, at the time of investment, is at least five years and at least 60% of the value of the investments is made in commercial companies based in Portugal;
  • Creation and maintenance of jobs: Transfer of capital in the amount of €500,000 or more, intended for the incorporation of a commercial company with its registered office in Portugal, combined with the creation of five permanent jobs, or to increase the share capital of a commercial company with its registered office in Portugal, already incorporated, with the creation of at least five permanent jobs or the maintenance of at least ten jobs, with a minimum of five permanent jobs, and for a minimum period of three years.
  • Investment in scientific research: a minimum of €500,000.00.
  • Investment in artistic production, preservation or conservation of cultural heritage: minimum amount of €500,000.00.

Golden Visa and New Real Estate Rules

Since October 7, 2023, there is no longer any form of real estate investment that admits a Golden Visa application.

Previously (in January 2022), the legislation had already been amended. In that revision, it was determined that the location of properties for residential purposes that qualified for the Golden Visa had to be located in the mainland or on the islands of Madeira and the Azores. Until then, there were no restrictions on the location of properties used for commercial or service purposes.

Apply for the Golden Visa with our support!

Duration of the Golden Visa Investment

It is necessary to maintain the investment for a minimum period of five years in order to renew the Residence Permits (AR). At the end of this period, it becomes possible to apply for Portuguese citizenship.

How long is the Golden Visa Portugal residence permit valid for?

Residence permits continue to be issued for a period of two years. Thus, two renewals are made, the first at the end of the second year of the Residence Permit, and the second at the end of the fourth year. After the fifth year, you can apply for Portuguese nationality.

Will those who applied for the Golden Visa before the change in the law be affected?

No. ARI (Residence Permit for Investment Activity) applications that were not approved before October 7th are still valid, as long as they are awaiting a decision from the competent authorities.

The same applies to applications that are in the process of being reviewed by local councils.

Can people who already have a residence permit renew it?

Yes, renewals of residence permits validly issued before October 7, 2023 are protected. This also includes grants or renewals of residence permits for family members applying under the family reunification scheme.

Is there any reduction in the minimum investment amounts for the Golden Visa? To which modalities do they apply?

Yes. Investment in areas of low population density has a major advantage over other areas of the country: a 20% discount on the minimum investment amount eligible for the Golden Visa.

Even with the change in the law from October 2023, the 20% reduction for investments made in areas of low population density remains in place. The discount applies to the creation and maintenance of jobs, investment in artistic production and investment in scientific research.

Is it possible to combine two or 3 funds from different managers to make up the 500k investment?

Yes, the investor is free to invest a minimum of 500,000.00 Euros in one Fund or multiples thereof, provided that when added together they complete the base amount.

How many people can I regroup to the Golden Visa?

There is no legal limit. It is possible to reunite with a spouse, partner (stable union of more than two years), children, stepchildren, parents and parents-in-law, as long as the specific requirements are met.

Is it possible to reunite adult children?

Yes, in the case of adult children, it is necessary to prove their financial dependence on the investor. They also need to be studying and be single.

Is it possible to reunite the investor’s parents?

Yes, in this case there is a requirement for proof of financial dependency of the parents, unless they are over 65, in which case the dependency is presumed.

Do Golden Visa holders need to live in Portugal?

No, as it is enough to prove 14 days of stay in Portuguese territory during the period of validity of the Residence Permit.

This is the great benefit and differential of the Golden Visa: you can live in Portugal if you want to, but you are not obliged to become a resident if you don’t want to. What you do need to do is maintain the investment for 5 years to become eligible for citizenship or permanent residence.

Discover all the advantages of the Spain Golden Visa as well.

When did the Golden Visa Portugal Program come into being?

The Golden Visa Program began in Portugal in 2012 with the aim of boosting the development of the local economy by attracting and keeping foreign resources in the country.

Apply for the Golden Visa with our support!

Can the holder of a residence permit for investment apply for Portuguese nationality?

You can, once you have completed 5 years of your residence permit (AR) and as long as you meet the other legal requirements. The requirements include knowledge of the local language (A2 level Portuguese), a clean record and proof of AR renewals.

If you don’t choose this route, you can apply for a permanent RA.

As we’ve explained above, investing in the Golden Visa can be a great opportunity for those who want to expand their opportunities and still obtain a Portuguese passport and free access to Europe. Do you have any questions? Talk to our consultants and find out which investment is best suited to your profile.

Apply for the Golden Visa with our support!

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Author:

Atlantic Bridge

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