Portugal Golden Visa for Indians: Complete Information

Portugal Golden Visa Requirements for Indians

The Portugal Golden Visa program presents an enticing opportunity for Indian investors seeking to gain European residency through strategic investments. As an Indian national, you can apply for the Portugal Golden Visa by fulfilling the following requirements:

Investment options

• Real estate investment: Invest in residential or commercial real estate of at least €500,000. You can even buy real estate on Portugal’s autonomous islands– Madeira and Azores. Note that residential real estate needs to be located in a designated interior area. Also, If the residential or commercial property is situated in a low-density areas of Portugal, you can avail of an additional 20 percent discount on your investments.
• Real estate rehabilitation: If you invest in the rehabilitation project, you have to spend €350,000 on commercial or residential real estate property. Note that residential real estate needs to be located in a designated interior area. If the residential or commercial property is situated in a low-density areas of Portugal, you can avail of an additional 20 percent discount on your investments.
• Investment fund: You can commit a minimum of €500,000 to a qualified Portuguese investment fund. This option allows investors to pool their funds with others and invest in a diversified portfolio managed by professional fund managers.
• Investment into artistic production or national heritage: You can invest €250,000 in the  arts or reconstruction of national heritage.

Golden Visa Requirements

Portugal’s Golden Visa has its own set of requirements that every applicant must fulfill in order to avail the benefits of this visa type. Let’s have a look at them:

• Residency requirement: Maintain the investment for a specific period to be eligible for the Golden Visa. During the first year, you must stay in Portugal for at least seven days; in each subsequent two-year period, you must spend at least 14 days in the country.
• Clean criminal record: Provide a clean criminal record from your country of residence
• Valid travel documents: Possess a valid passport and other necessary documents
• Proof of funds: Demonstrate that you have the financial means to support yourself and your dependents during your stay in Portugal

By meeting these requirements, Indian investors can pave the way to European residency and access the numerous benefits of living, working, and studying in Portugal. The Portugal Golden Visa offers a pathway to a brighter future in one of Europe’s most alluring and welcoming nations.

Initial research and preparation

• During this stage, potential investors research the Portugal Golden Visa program, explore different investment options, and seek advice from immigration consultants if desired.
• Investors gather the necessary documents and funds required for the chosen investment option.

Onboarding

• Once you’ve decided on your investment, you’ll need to gather the necessary papers for yourself and any dependents that will be included in the application.
• Make sure all the documentation is  in order and submit it for review. Global Citizen Solutions can do this for you on your behalf. 

Bank account and NIF

• We will designate a fiscal representative for you in order for you to get a tax identification number (NIF) in Portugal with a Portuguese bank account.
• We can assist you with opening a bank account in Portugal once you have obtained your NIF. This is something we can accomplish remotely.

Make the investment

• We can start securing your investment and will walk you through the documentation needed to secure a successful investment.

Apply online

• Submit your application online.

Pre-approval

• If you meet the relevant standards, your application will be pre-approved.

Biometrics visit

• It takes around two months from the moment you plan your interview to be able to attend a biometrics collecting session in person.

Golden Visa issuance

• Following your biometrics appointment, it takes about four months for SEF (the Portuguese Immigration and Border Service) to authorize your Golden Visa.
• Pay the government permission application cost. We will then collect and mail the residency cards on your behalf.
• The Golden Visa residence permit is typically valid for two years and can be renewed for subsequent two-year periods.

Engaging the services of experienced immigration consultants can streamline the process and help investors navigate any potential challenges, ensuring a smoother and more efficient timeline for obtaining the Portugal Golden Visa.

Portugal Golden Visa Cost for Indians

The cost associated with obtaining Portugal’s Golden Visa for Indian investors involves several components, including investment amounts, processing fees, legal and consultancy fees, and other miscellaneous expenses. Here’s a breakdown of the typical costs:

• Investment amount: Invest at least €500,000 in residential or commercial real estate. Real estate is also available in Portugal’s autonomous islands of Madeira and Azores. However, if you invest in the rehabilitation project, you simply need to invest €350,000 in commercial or residential real estate property. Note that residential real estate also has to be situated in a designated interior area.
  
  Alternatively, you might offer €250,000 for arts or national heritage rebuilding. If your residential or commercial property is located in one of Portugal’s “low-density areas,” you can receive a20 percent percent discount on your investment.
• Investment fund: Investors can commit a minimum of €500,000 to a Portuguese investment fund

• Legal and consultancy fees: Many Indian investors seek guidance from experienced immigration consultants or legal experts to navigate the complex application process. Legal and consultancy fees can vary depending on the services provided and the case’s complexity.
• Property-related costs (if applicable): If the investor chooses the real estate investment option, there may be additional costs related to property acquisition, such as property registration fees, notary fees, and property taxes.
• Travel and living expenses: Investors and their families may incur travel and living expenses when visiting Portugal for the initial application process and during the required residency periods.
• Miscellaneous expenses: Other miscellaneous expenses may include document translation, health insurance premiums, and additional requirements specific to the investor’s circumstances.

It’s important to note that the total cost of the Portugal Golden Visa can vary based on individual choices, such as the investment option selected, the number of family members included in the application, and the level of professional assistance sought. Proper financial planning and research are essential to understand the full scope of costs involved.

• Eligibility requirements
  • Indian nationals must fulfill the investment requirements of the Portugal’s Golden Visa. This includes investing a minimum of €280,000 to €500,000 in real estate, depending on the property’s location and type, or committing at least €500,000 into a Portuguese investment fund. Note that residential real estate needs to be located in a designated interior area. 
  • Applicants must maintain the investment for the required period to be eligible for the Golden Visa and subsequent permanent residency.
• Residence permit renewal
  • The Portugal Golden Visa initially grants a residence permit that is valid for two years. After this period, the permit can be renewed for subsequent two-year periods as long as the investor maintains the qualifying investment and meets the residency requirements.
  • The renewal process involves submitting updated documents and demonstrating continued compliance with the investment criteria.
• Permanent residency application
  • After holding the Golden Visa for five years, Indian investors can apply for permanent residency in Portugal. This allows investors and their families to live, work, and study in Portugal indefinitely.
  • The permanent residency application is subject to approval by the Portuguese authorities and requires proof of continuous residency during the Golden Visa period.
• Citizenship eligibility
  • After holding permanent residency for five years, Indian investors may be eligible to apply for Portuguese citizenship.
  • The citizenship application process involves meeting additional requirements, including language proficiency and proof of integration into Portuguese society, alongside having a clean criminal record.
• Benefits of permanent residency
  • The Portugal Permanent Residence Visa allows individuals and their families to live and work in Portugal without any time limitations.
  • Permanent residents can enjoy the benefits of the Portuguese healthcare and education systems.
  • Portugal Permanent Residence Visa holders can also travel visa-free within the Schengen Area, comprising 26 European countries.

The Portugal Permanent Residence Visa by Investment presents an attractive opportunity for Indian investors seeking to establish a stable and secure European base. By fulfilling the investment requirements of the Golden Visa investment program, Indian nationals can embark on a journey towards European residency and potentially Portuguese citizenship, opening up a world of opportunities for themselves and their families.

• European residency: The Portugal Golden Visa grants Indian investors and their families the right to live, work, and study in Portugal and travel visa-free within the Schengen Area. This includes 26 European countries, making exploring and conducting business across Europe easier.
• High-quality education: Portugal boasts a robust and high-quality education system. Golden Visa holders can access top-notch schools, universities, and research institutions for themselves and their dependents, providing excellent educational opportunities.
• Access to the European market: Portugal’s strategic location within the EU allows Indian investors to explore European business opportunities. This access can open doors to new markets, partnerships, and investment prospects.
• Thriving tech and startup scene: Portugal is experiencing rapid tech and startup ecosystem growth. Indian entrepreneurs and professionals can tap into this thriving scene, fostering innovation and collaboration.
• Healthcare: Portuguese healthcare is known for its high standard and accessibility. Golden Visa holders can benefit from quality medical services and healthcare facilities.
• Family reunification: The Portugal Golden Visa allows Indian investors to include their family members in the application, promoting family reunification in Europe.
• Path to permanent residency and citizenship: After five years of holding the Golden Visa, investors can apply for permanent residency. Moreover, after six years of residency, they may become eligible for Portuguese citizenship, offering additional rights and benefits.
• Diverse culture and lifestyle: Portugal boasts a rich cultural heritage, offering a diverse lifestyle with picturesque landscapes, historical landmarks, and a welcoming local community.
• Retirement destination: Portugal is attractive for retirees due to its pleasant climate, affordable cost of living, and retiree-friendly policies.
• Tax benefits: Portugal offers various tax incentives and exemptions for foreign residents, making it an appealing destination for investors seeking tax optimization.
• English proficiency: English is widely spoken and understood in Portugal, making it easier for Indian investors to communicate and integrate into the local society.

Overall, the Portugal Golden Visa opens the door to many benefits, providing Indian investors and their families with a unique opportunity to establish a prosperous and fulfilling life in a country that embraces diversity, innovation, and a high standard of living.

Global Citizens Solutions: How can we help you?

Expats and Indian investors can encounter many difficulties when applying for a Portuguese Golden Visa, which is why having an expert on hand is worthwhile to provide personalized Portugal visa assistance throughout the application process.

Our specialists can help you with the following:

• Expertise and knowledge: Our Portugal immigration consultants are well-versed in the Golden Visa program’s intricacies and requirements. We stay updated on the latest regulations and can provide accurate information and advice to Indian investors.
• Tailored solutions: Your personal consultant will assess your individual needs and preferences and discuss the most suitable investment option for your specific circumstances. This tailored approach ensures that Indian investors make informed decisions that align with their goals.
• Document preparation and review: Our immigration consultants assist Indian investors in gathering and preparing the necessary documents, ensuring that the application is complete and meets all requirements. We review all paperwork to minimize the risk of errors or omissions that could lead to delays.
• Application assistance: Our consultants guide Indian investors through each step of the application process, from submitting the initial application to securing your Golden Visa and beyond. 
• Language support: Portuguese may not be familiar to Indian investors, and language barriers can be challenging during the application process. Our immigration consultants offer language support in English and Portuguese and can translate documents to communicate clearly with Portuguese authorities.
• Legal compliance: Our immigration consultants ensure that Indian investors adhere to all legal requirements and maintain compliance with Portuguese immigration laws, reducing the risk of complications or visa refusals.
• Liaison with authorities: Global Citizen Solutions’ consultants act as intermediaries between Indian investors and Portuguese authorities, facilitating communication and ensuring that any queries or issues are addressed promptly.
• Post-approval support: After obtaining the Golden Visa, our consultants continue to assist Indian investors with residency renewals, permanent residency applications, and any other immigration-related matters.
• Peace of mind: By entrusting the process to Golden Citizens Solutions, Indian investors can know that their application is in capable hands, allowing them to focus on other aspects of their investment plans.

For detailed information on our services for Portugal Golden Visa and benefits of working with us, read more.

A Better Alternative to Immigration to Portugal for Indian Investors

While the Portuguese Golden Visa is a popular and attractive option for Indian investors seeking European residency, exploring other potential alternatives is essential before making a final decision. Different countries offer different residency permits and citizenship by investment programs, each with its own set of advantages and considerations. Here are some alternative options that Indian investors may consider:

• Malta Residence by Investment Program (MRIP) and the CES program:
  • Malta offers investment programs that grant residency and citizenship to investors and their families. The program requires a significant investment in real estate, government bonds, and other financial contributions. Malta citizenship provides visa-free access to 172 countries, including the Schengen Area and the United States. Read more about the Malta Residency by Investment Program and the Citizenship by Investment (CES) program here.
• Cyprus Residency by Investment Program:
  • Cyprus offers a residency by investment program that requires a substantial investment in real estate and other eligible assets. You can also read this informative blog on Cyprus Residency by Investments Program to gain complete knowledge about residency in Cyprus.
• Greece Golden Visa Program:
  • The Greece Golden Visa program allows investors to obtain residency by investing in real estate with a minimum value of €250,000. Greek residency allows visa-free travel within the Schengen Area.
• Spain Golden Visa Program:
  • Spain offers a Golden Visa program that grants residency to investors who invest at least €500,000 in real estate. Spanish residency allows visa-free travel within the Schengen Area.
• Caribbean Citizenship by Investment Programs:
  • Several Caribbean countries, including Saint Kitts and Nevis, Antigua and Barbuda, and Dominica, offer citizenship by investment programs. These programs require a financial contribution to the country’s development fund or an investment in approved real estate. Caribbean citizenship provides visa-free access to numerous countries, making it an attractive option for global mobility.

The choice of the best alternative will depend on the investor’s specific goals, investment preferences, desired level of global mobility, and family considerations. Each program has its own eligibility criteria, investment requirements, and processing times, so thorough research and consultation with experienced immigration advisors are crucial before deciding.

Aspiring investors must carefully weigh their individual goals, financial capacity, and family considerations to make an informed decision. By seeking the guidance of reputable immigration consultants, conducting thorough research, and exploring alternative options, Indian investors can confidently choose the best pathway to their European dreams.

Frequently Asked Questions about the Portugal Golden Visa Program for Indians