Portugal’s Golden Visas are a very popular option for people wishing to gain residence and invest in property in Portugal. This scheme is available to non-EU, non EEA and non Swiss citizens and once obtained gives you access to all 26 countries in the Schengen area.
Golden visas give you and your immediate family residence rights.
Although there are different routes of investment to obtain a Golden Visa, investment in property is the most popular one, which is what we will detail below.
Another big advantage is that after 5 years you qualify for Portuguese citizenship, with all the benefits that entails.
– Minimum €500,000 in property in higher populational densitiy areas
– Minimum €400,000 in property in lower populational density areas (for which different areas in central Portugal qualify).
– Rehabilitation of properties over 30 years old located in areas categorized as Urban Rehabilitation. For this the property price + the rehabilitation cost (VAT excluded) must be a minimum of €350,000 in higher population density areas.
– For areas of low population density, the value of investment in rehabilitation is property price + the rehabilitation cost (VAT excluded) and decreased to €280,000.
Who can apply for a Golden Visa:
This scheme is available to non-EU, non EEA and non Swiss citizens and once obtained gives you access to all 26 countries in the Schengen area. On the same application you can include:
– your spouse/legal partner,
– any children under 18 years old,
– any unmarried children up to 26 years old as long as they are full time students
– Yours our your spouse/partner parents if they are over 66 years old, which decreases to 55 years old if they are your dependents.
– Any siblings of yours or your partner, if they are under 18 years old and considered your dependents.
This is probably the main advantage as you can make the investment, gain residence but do not need to remain full time in Portugal. On the first year you are required to spend only 7 days in Portugal and from the second to the fifth year the requirement is 14 days. during every two year period. The 14 days are not required to be consecutive.
You also must maintain the investment for a minimum of 5 years and have no criminal record.
You also do not need to pay any additional taxes on income not earned in Portugal.
There are a number of fees charged by the Portuguese Government Agency responsible, SEF. On top of this it is best that you handle your application through an a specialized agency and lawyers, to ensure you get it right and the process is as smooth as possible.
If you are interested in a Golden Visa we can put you touch with the right people to start the process.