Golden Visa: Frequently Asked Questions
When moving to another country it’s normal if you have relevant questions or issues related to how things work, especially when deciding to become a citizen in the long run or live in a specific country with your family. The Portuguese Golden Visa Program raises different types of questions, mainly with regards to the process itself, the eligibility, the costs associated and the different ways you can apply. In this article, we have compiled the most frequently asked questions regarding the Portuguese Golden Visa.
What is the Golden Visa?
It is a program through which any non-European resident citizen, willing to invest in Portugal, can apply for an investment visa, under the terms of the law.
How many types of Golden visa exist?
There are three types, which distinguish themselves by the type of investment applied, therefore: capital investment (in derivatives or in companies), real estate investment and setting up a business with more than 10 employees.
The golden visa allows me to travel in the Schengen area?
Yes. The holder is allowed to travel and move freely through Spain, France, Germany, Austria, Belgium, Denmark, Estonia, Finland, Greece, Hungary, Iceland, Italy, Latvia, Czech Republic, Liechtenstein, Lithuania, Luxembourg, Malta, The Nederlands, Norway, Poland, Portugal, Slovenia, Slovakia, Sweden and Switzerland.
Do I have to change my tax residency to Portugal?
No. You are not obligated to change it.
How long may I stay in Portugal with the Golden Visa?
The Golden Visa allows you to stay in Portugal for a maximum of a 5-year period, with the necessary renewals. However, investors will be given an initial temporary residence visa good for one year. This visa can be renewed for an additional 2-year period. The minimum stay required is 7 days in the first year, 14 days during the next two years and other 14 days in the fourth and fifth year. After this period, Golden Visa holders can apply for a Permanent Residency Authorization. On the 6th year, investors are eligible to apply for full Portuguese Citizenship.
Am I allowed to work in Portugal?
Yes. You can work during the period of your Golden Visa, as well as after you get the permanent residency permit.
How long will it take if I request my Golden Visa now?
After the submission of all necessary documents, the application process may take between 30 and 60 days.
The €500k is paid by the applicant or by an application?
The transaction is made by the applicant, who may request a permit for family reunification. The relatives should meet the general requirements and must also provide documents proving a relationship, duly certified and translated to Portuguese.
Who is allowed to apply for family reunification?
The spouse, children aged under 18 and adult dependent relatives who are currently carrying on studies.
In the case of Property Investment, may I purchase more than one property?
Yes. The law allows for more than one purchase, as the total investment has a minimum amount of €500.000.
When my Golden Visa expires, may I apply for a permanent residence permit?
Yes. You may apply for a permanent residence permit and, in case you decide to apply for Portuguese citizenship, you may do so after 6 years in Portugal.
In conclusion, if you are looking for a Golden Visa you will be able to move around freely in the Schengen area, conduct business, enjoy your holiday home or simply enjoy a more secure, peaceful and opportunities-filled country like Portugal.