Golden Visa Portugal 2021 – The Ultimate Guide by Experts

The Golden Visa Portugal is one of the most popular residency-by-investment programs in the world. Since its inception in 2012, thousands of families have successfully relocated to Portugal ―  the darling heart of Southwestern Europe ― and have started new lives. Why exactly is the Portuguese Golden Visa so in-demand? And why are non-EU citizens applying in the hundreds?

In this Golden Visa Portugal 2021 Ultimate Guide, you’ll learn more about:

• What the Golden Visa Portugal is
• Key benefits of the program
• How to get the Golden Visa in Portugal
• Documents required
• Program costs

…and so much more!

What is the Golden Visa Portugal?

The Portugal Golden Visa Program, also known as the Residence Permit Program is a five-year residency-by-investment scheme for non-EU nationals. It’s part of Portugal’s immigration move to welcome investors in the country. 

From its mesmerizing Atlantic coastline and luscious landscapes to its year-round sunshine, Portugal’s charm is irresistible. The golden visa grants qualifying investors and their family members the right to live, work and study in Portugal and permits free movement in Europe’s Schengen Area. 

Opportunities to become a permanent resident or citizen are possible, provided that the qualifying investment is kept for at least five years, and that all requirements set forth by the Portuguese immigration and nationality laws are obeyed.

IMPORTANT: Portugal Golden Visa Changes 2021

From an ongoing COVID-19 pandemic to Portuguese Golden Visa changes, it’s important to stay informed.

From 1 January 2022, the Portuguese Golden Visa program will change.

Namely:

• The minimum investment threshold to qualify for residency will increase
• The investment fund amount option for the Golden Visa will change from €350,000 to €500,000
• The capital transfer amount option for the Golden Visa will change from €1 million to €1.5 million
• New real estate investment restrictions will kick in. Properties in Lisbon, Porto, and other high-density coastal towns will not qualify for property investments under the Golden Visa scheme
• Applicants have until the end of 2021 to take advantage of the current Portuguese Golden Visa scheme.

Check out the latest changes to the Portugal Golden Visa Program here.

Benefits of the Portuguese Golden Visa

The benefits of a Portuguese Golden Visa are one of the main reasons why foreign investors are so vested in applying and seeking residency.

Some top benefits of the program include:

Portugal Golden Visa family benefits

A winning benefit of the golden visa is that your dependent family can be included in the application. Meaning, your family can also enjoy the same freedom of opportunities and a second residence in a safe and stable country!

The following family members can be included in the application:

• Spouse or legal partner
• Children under 18 years of age
• Dependent children under 26 as long as they are single and enrolled as full-time students or can demonstrate that they continue to be financially dependent on the parents
• Parents of either spouse if over 66 years old (or 55 and dependent)
• Siblings under the age of 18 years from either spouse or partner if they are legal guardians, as determined by the courts

Your Portugal Golden Visa consultants

Global Citizen Solutions is a boutique consultancy firm with years of experience delivering bespoke residence and citizenship-by-investment solutions for international families. 

With offices worldwide and an experienced, hands-on team, we help clients from around the world acquire Portuguese Golden Visas or homes while diversifying their portfolio with robust investments.

Speak to one of our Portugal Golden Visa Consultants so we can understand your objectives and help you move forward. 

Portugal Golden Visa processing time

The processing time is relatively quick and straightforward.

Step-by-step guide for the Golden Visa application

While the golden visa application is relatively straightforward, there are quite a few steps to take toward a successful application. 

1 – Onboarding: Once you decide on your investment, you must collect the paperwork for yourself and any dependents you’ll be including in the application. We can ensure the correct paperwork is in order, and we’ll submit it for review.

2 – Bank account & NIF: In order to obtain the tax identification number (NIF) in Portugal, we will appoint a fiscal representative for you. After obtaining your NIF, we can help you open a bank account in Portugal. This can be done by us remotely.

3 – Make the investment: We can begin securing your investment, and will guide you through the necessary paperwork required to ensure a successful investment.

4 – Online application: Lodge your application online.

5 – Pre-approval: Your application will be pre-approved, on the basis you fulfill the necessary requirements.

7 – Biometrics visit: From the time you book your interview, it takes around 2 months until you can attend a biometrics collection session in person.

7 – Golden Visa issuance: After your biometrics, it takes around 4 months for your Golden Visa to be approved by SEF. Pay the government permit issue fee. We’ll then collect the residence cards on your behalf and send them to you.

Portuguese Golden Visa investment options

Portugal’s stable and dynamic economy and exciting startup scene make it an ideal destination for businesses looking to set up EU operations. Portugal’s prime real estate market has also prompted an influx of property investors to purchase property for sale in Portugal. 

To get the golden visa, an investment must be made before the application can be filed.

Portuguese Golden Visa investment options include:

• Capital Transfer of at least €1 million
• Generate 10 new jobs for a Portuguese business or single-member company (reduced to 8 positions if in low-density area)
• Buy property for sale in Portugal, via the Portuguese Golden Visa real estate investment route of €500K in Real Estate- (Reduced to €400K if located in a low-density area)
• Portuguese Golden Visa €350K real estate investment in rehabilitation project (reduced to €280K if located in a low-density area)
• €250K investment into preserving national heritage
• Investment of at least €350K in research
• €350K investment in an existing Portuguese business. Must incorporate or increase the share capital and create at least 5 full-time permanent jobs for at least 3 years
• Investment into private equity funds- A Portugal investment funds Golden Visa of €350K minimum can be made to a private equity fund. Note the fund investment Portugal route is increasingly popular.

IMPORTANT NOTE: Investment options under the Portuguese Golden Visa will undergo significant changes commencing 1 January 2022. This means that some of the investment options outlined above will either be no longer available or will have new minimum investment amount requirements.

Check out the latest changes to the Portugal Golden Visa Program here.

Portuguese Golden Visa real estate option

The Portuguese Golden Visa real estate option is perhaps the most popular way to get residency in Portugal. This is because Portugal is seen as a prime destination among property investors, with a flourishing real estate market, high rental yields, and booming tourism industry. 

Many expats buy properties in Portugal for tourism purposes, or to serve as a second home or a retirement destination. You can invest in newly-built properties in thriving Lisbon or Porto starting from €500k, or invest in used property for the golden visa starting from €400K.

The most economical investment route for the scheme is to make a €280K investment in the rehabilitation of real estate in low-density areas. The Portuguese Golden Visa property for sale must at least be more than thirty years old and undergoing renovation.

Portugal investment fund Golden Visa

Investing in private equity funds or Portuguese Golden Visa venture capital funds is a good option for acquiring residency in Portugal. The funds are managed by accredited fund managers who are accredited by Portugal’s regulatory body, the CMVM. Your dedicated fund manager ensures that the Portuguese Golden Visa fund investments are appropriately managed in start-ups or medium-sized projects with optimal growth potential. 

For the Portuguese Golden Visa qualified investment fund, you can choose from sectors like energy, industry, technology, and real estate.

Chat to one of our consultants

Lifestyle choices vary, which is why we take the time to learn about your individual situation and requirements. We can simplify access to property investments, provide local insights, help with legal assistance, tax planning, and more—all while ensuring efficient, personalized, and confidential service.

Golden Visa tax benefits

Portugal’s Golden Visa income tax benefits are a big draw for foreign investors looking to get the most out of their financial contribution. 

Visa holders don’t need to pay extra taxes on income produced outside of Portugal.

There’s also an option to register as a fiscal resident for tax purposes in Portugal. This is a fantastic option as it’ll allow you to then directly benefit from Portugal’s Non-Habitual Tax (NHR) Regime. NHR is a generous tax program with numerous benefits pertaining to your global income. It offers tax-free incentives on certain categories for a period of up to ten years.

Types of income that may qualify under the NHR program include:

• Dividends
• Real estate income
• Capital gains from the disposal of real estate
• Occupational pensions
• Royalties
• Business and self-employment profits derived from eligible occupations (but be mindful of relevant double taxation agreements)

Additionally, any Portuguese-sourced income would be taxed at a flat rate of 20% during the first ten years and there is also the ability to pass on your wealth to a spouse or dependent without incurring inheritance or gift taxes.

Find out more in our complete guide to Portugal’s Non-Habitual Resident Tax Regime and the Portuguese Golden Visa tax benefits.

Golden Visa Portugal documents required

* Important information about your documentation**

The following Golden Visa Portugal documents required can change at the discretion of the Portuguese government. Also, the documents must be submitted by Golden Visa applicants both for the initial application and for each renewal.

Golden Visa Portugal documents required list:

• Portuguese Golden Visa application form
• Copy of a valid passport and travel documents
• Deed or contract of the purchased property or signed promissory contract with proof of the deposit payment
• Declaration from your bank in Portugal confirming the transfer of funds
• Proof of Health Insurance in Portugal (only required if the investor resides in Portugal)
• Certified copy of the criminal certificate or a Police clearance letter from your country of origin
• A completed form authorizing SEF to get an extract of your Portuguese criminal records
• Declaration from you confirming compliance with the investment requirements
• Documents showing a good standing with the Portuguese Tax and Customs Authority and Social Security system. These can be issued 45 days prior to your online application
• A receipt showing that you already paid the application processing fee
• Note that the certificates of criminal records or police clearance letters must have been issued no more than 90 days before submitting your application. For all other certificates, it is 180 days.

Legalizing Portuguese Golden Visa documents

Portuguese Golden Visa documents and the Portugal Golden Visa application form must be legalized and translated into Portuguese by a certified translator.

Documents can be legalized either by the Portuguese Consulate or by the Apostille of The Hague Convention.

Translating Portugal Golden Visa documents

Original documents must be accompanied by a certified translation in Portuguese, which may be done in one of three ways:

1. By a translator who is accredited by the Portuguese Consulate
2. By anyone, if the translation is certified by a Portuguese lawyer
3. By the issuing country’s Consulate in Portugal

Getting a Portuguese NIF and opening a Portuguese bank account for the Portuguese Golden Visa

These are relatively straightforward processes in Portugal and can both be done remotely.

The NIF is your tax identification number, distributed by the Portuguese fiscal authorities (Finanças) used for tax purposes that are needed to carry out various transactions including opening a Portuguese bank account and buying property. 

To open a Portuguese bank account, Global Citizen Solution can introduce you to a competent English speaking banker in Portugal that can open a bank account even before you come to Portugal. 

Portuguese Golden Visa language test

While you don’t need a Portuguese Golden Visa language test, if you want to get Portuguese citizenship after your five-year investment is up, then you must take the Portuguese language test for citizenship.  The test, called The CIPLE Portuguese proficiency test, checks to see if you have a basic understanding of the Portuguese language. 

Portuguese golden visa cost

The Portugal Golden Visa cost is as follows:

Initial Application Fees

• GOLDEN VISA APPLICATION LEGAL FEES: For a single applicant = €5k to 8k. Dependents younger than 18 years old can be included in the application, free of charge.
• ADDITIONAL GOLDEN VISA LEGAL FEES: For dependents aged 18 and older = €500 to 2K. Note that children are free of charge.

Renewal Legal Fees

• GOLDEN VISA RENEWAL LEGAL FEES: For a single applicant = €1K to 2.5K.
• ADDITIONAL FEES: For dependents aged 18 and above = €500-2K. Children are free of charge.

Note: Depending on the type of investment you wish to make and whether you hire a lawyer to help you with your application, additional fees may apply.

Disclaimer: Fees can change, depending on the Portuguese government.

Can I pay for the Portugal Golden Visa with cryptocurrency?

Global Citizen Solutions is a crypto-friendly company. We now accept cryptocurrency as payment for our services through the portal Coingate. While we do not have a point of sale directly set up on our website, payment with crypto including Bitcoin, Ethereum and Ripple can be arranged by contacting our staff.

Global Citizen Solutions has already helped many crypto investors in acquiring their Golden Visa in Portugal and other citizenship by investment programs. We are happy to assist you every step of the way.

Portugal vs Spain golden visa: which is better?

With golden beaches, enticing foods, and excellent weather, both Spain and Portugal offer safe and stable lifestyles in the heart of Europe and straightforward ways to obtain temporary residence permits. However, key differences between the two programs exist and it’s important to know what these differences are.

The main benefits of the Portuguese Golden Visa program in comparison to the Spanish one is that investments can be made for a lower amount, starting from €280K. Investors for the Portuguese Golden Visa can also obtain a European passport in just five years, whereas investors for the Spanish Golden Visa must wait ten years.

Check out our Portugal vs Spain Golden Visa comparison guide below for more information. 

Frequently asked questions about the Portuguese Golden Visa Program