Is the Portugal Golden Visa Ending? For now the answer is “No” and infact, it is still one of the world's top residency programs.
Portugal is a member of the European Union, and obtaining residency through the Golden Visa program allows individuals to live, work and access public education in Portugal as well as travel freely without a travel visa within the 27 countries in the EU Schengen Area.
After a qualifying investment has been made, the Golden Visa is very easy to maintain with a minim stay of an average of 7 days per year. After 5 years, and a pass in a simple A-2 level Portuguese language test, Golden Visa holder qualify for citizenship. Portugal has the 5th most powerful passport in the world with visa-free travel to 175 countries.
The Golden Visa application process is generally considered to be straightforward compared to some other residency and citizenship programs. The minimum stay requirements is only
14 days in the first 2 years14 days in the subsequent 2 years7 days in the 5th yearPortugal is known for its political stability, safety, and high quality of life. The country offers a pleasant climate, beautiful landscapes, and a rich cultural heritage, making it an attractive destination for individuals and families seeking a better lifestyle. Portugal ranks #7 in the world in the Global Peace Index 2023.
Portugal's healthcare system ranks 25th in the 2023 Health Care Index by Numbeo.com. In 2022, the average life expectancy in Portugal reached 82.47 years, marking a 0.22 percent increase compared to 2021.
Portugal is also considered one of the top expat destinations due to its overall quality of life. Portugal is known for its warm, temperate Mediterranean climate. Even better, the cost of living in Portugal is considered low as it remains one of the most affordable destinations in Europe. Cost of living in Portugal is, on average, 35.5% lower than in United States. Rent in Portugal is, on average, 42.0% lower than in United States (Numbeo.com). It is also relatively easy to communicate in English in Portugal. Portugal has the world's 7th best non-native English speakers (EF EPI). Internations names Portugal as the most welcoming country for expats. Thus Portugal is one of the 2nd best retirement destinations in the world after Costa Rica (International Living 2024).
Portugal is an attractive country to invest in. It is a part of EU which is the 2nd largest economy in the world after the US. Portugal occupies a unique position in Europe. Its command of English is high, and its language is spoken in Latin America and parts of Africa. On top of this, it is one of the safest and most economically stable country in Europe. In terms of ESG, Portugal ranks 5th place in the ESG Index (Global Risk Profile 2023).
Established in 2012, it's a program that will Grant non-EU nationals a temporary residence permit through an investment activity in Portugal, allowing:
1.Entering Portugal without a residence visa
2.Reside, study and work in Portugal or just stay 7/days a year
3.Circulate in the Schengen area without a visa
4.Benefit from family reunion (spouse, children, parents, parents in law)
5.Benefit from health care, social protection and educational system
6.Apply for a permanent residence or citizenship after 5 years
1.Main applicants must over 18 years of age and a Non-EU/EEA Citizen
2.Main applicants must make a qualifying investment in Portugal using funds from abroad
3.Main applicants must hold qualifying investment for a minimum of 5 years
4.All applicants must hold a clean criminal record
5.All applicants must hold private health insurance
6.All applicants must reside in Portugal for an average of seven days a year
Since October 2023, direct or indirect real estate investment is revoked on all options of investments which qualifies for the Portugal Golden Visa.
Based on the new rules for the Portugal Golden Visa, there are now 5 attractive investments and contributions to obtain a Portugal Golden Visa:
Click here for IPS Portugal Golden Visa Investments funds and businesses you can invest in.
Under 1 main applicant and thus qualifying investment, the main applicant can regroup:
Steps and general timelines
Choose Option of InvestmentHire legal and tax representation and select a bankDue diligence on fund / funds to invest inImmigration DocumentsPersonal DocumentsTransfer funds to PortugalInvestment contractInvestment paymentProof of InvestmentSubmission of documents to AIMAOn the 26th of February 2024, it was approved that applicants will be able to count the 'application waiting period' from the 5-year citizenship period. This means that the 5-year period will start from the date of the first residency application, regardless of when the residency application was accepted.
Generally, tax representation fees are charged annually and about €500 per year. Lawyers charge between €5,000 to €10,000 for initial applications for the main investor and €700 to €1,000 for each reunification member. These services include:
Opening of a Portuguese Bank AccountDue Diligence on investment selectedDrafting and reviewing of legal contracts for the Golden Visa applicationAnd other services related to the Portugal Golden Visa and related investmentReunification members' applicationsLawyers typically charge between €1,800 to €2,500 for renewals for main applicants.
As of 12 March 2024 AIMA has update their fees. The analysis fee is 605,10€ and the residency card for concession purposes 6045,20€.
Contact us for a sample calculation of year by year calculation of fees and projected returns on your investments and find out from us how to obtain sound consultation, a responsive and efficient legal and processing team, to make your application journey and smooth one.
1.Valid Passport
2.Certificate of criminal record of the country of origin, or of the country where is living for more than one year
3.Proof of tax identification number of the country of origin or tax residence
4.Entry and legal stay in Portugal (renewals)
5.Health insurance, address proof, work certificate, income proof (renewals)
6.Payment of application fee
7.Payment of Residency Card fee
1.Valid Passport
2.Proof of family bond (birth certificate / marriage certificate)
3.(Adults / +16) Certificate of criminal record from the country of birth, citizenship and residence for the last one year, address proof
4.(Adults +18 or +65) Proof of economic dependence, single status and school enrollment
5.Entry and legal stay in National Territory (renewals)
6.Health insurance (renewals)
7.Payment of application fee
8.Payment of Residency Card fee
For more information on apostille / notary of documentation, contact us.
Over the years, we have observed the most obvious reasons why our clients seek alternative residencies/citizenships:
As travel for business or leisure becomes a necessity, our clients want to enjoy the privilege of visa-free travel or easier access to other countries. Certain passports offer more favourable travel options.
High net worth individuals are generally diversify their investments or assets globally for foreign currency and asset diversification or for more favourable tax policies.
A plan B for individuals and their families due to concerns about political unrest, conflict, or an unstable government in their current country of citizenship.
Access to quality education is a significant factor. Some individuals seek citizenship in countries with reputable educational institutions to benefit from a better education system for themselves or their children.
Access to quality healthcare is a consideration for some individuals. They may seek citizenship in a country with a well-developed healthcare system to ensure better medical facilities and services.
Citizenship can be sought to provide a better future for one's family, including children. Citizenship in a stable and prosperous country may offer better opportunities and quality of life for family members.
In cases of persecution, discrimination, or human rights abuses, individuals may seek alternative citizenship as a means of escaping from a threatening environment.
Some countries allow dual citizenship, and individuals may seek an additional citizenship to enjoy the benefits of being a citizen of multiple countries, such as extended rights and privileges.
Individuals may feel a strong cultural or social connection to a different country and seek citizenship to be more closely aligned with that culture, language, or community.
In recent years, investment migration has become a mainstream wealth planning strategy as increasing numbers of investors use residence and citizenship by investment programs to access previously restricted opportunities across the globe and protect their wealth and legacies.
The popularity of a second residency is not only popular amongst citizens of developing countries. Recently many high-net-worth individuals from even the United States or the United Kingdom are investing in a second citizenship for global mobility, tax reduction, and lifestyle upgrades.
Portugal Golden Visa Investments