Portugal Golden Visa for New Zealanders

Why get the Portugal Golden Visa: Benefits

The Portugal Golden Visa for New Zealanders has an array of benefits, including the potential for an EU passport after five years. Here, we’ve listed some of the biggest advantages of the scheme.

The right to live and work in Portugal

Armed with a Portugal Golden Visa, you can live, study, and work in Portugal. This extends to cover your family members as well and, with a very high level of education, Portugal is an excellent option to consider.

You can see more about the education system in the country here.

Flexible stay requirements

The Portugal Golden Visa for New Zealanders provides an excellent opportunity if you are looking for a backup plan but are not ready to leave your homeland of New Zealand. With a flexible short stay requirement, you will only be required to spend seven days on average in the country per year and you’ll be able to retain your residency.

Opportunity to become an EU Citizen

For New Zealanders, one of the most attractive aspects of the Golden Visa scheme is that after five years, you can apply for Portuguese citizenship, as long as you fulfill all the other requirements. With a Portuguese passport, you’ll have the freedom to live, work, reside, and travel, in any of the 27 EU member states.

The right To include your family

As previously mentioned, you’ll be able to include your family in your Golden Visa application. Along with your spouse and children, you can also include your parents.

Easy travel within Europe

If you are looking to move to Portugal, then it is very easy to travel to the rest of Europe. Lisbon, Porto, and Faro each have airports with international travel, where you can easily jump on a plane and explore a whole host of exciting cultures.

Affordable living

While Portugal boasts an excellent quality of life, the affordability of living in Portugal is sure to catch your eye. Living expenses in Portugal are much cheaper than in New Zealand. To give you some examples, here are some comparisons between the two capital cities.

• Consumer prices in Wellington are 57.7% higher than in Lisbon, not including rent
• Rent prices in Wellington are 40.73% higher than in Lisbon
• Restaurant prices in Wellington are 42.15% higher than in Lisbon

Data from Numbeo, updated July 2022.

Note that Lisbon has its own price range in Portugal. As the capital, prices here are more expensive in other parts of the country.

Investment types for Portugal Golden Visa

As previously mentioned, there are an array of investment options. The minimum investment amount is €250,000, which is the donation pathway.

The Golden Visa investment options are:

• Residential Real Estate: Buy residential real estate in designated interior areas of Portugal worth at least €500,000 (or €350,000 if investing in a rehabilitation project). Note that if the residential property is located in a designated ‘low-density’ area, then a 20% discount applies.
• Commercial Real Estate: Buy commercial real estate anywhere in the country worth at least €500,000 (or €350,000 if investing in a rehabilitation project). Note that if the commercial property is located in a designated ‘low-density’ area, then a 20% discount applies.
• Buy Real Estate on Madeira or Azores: Buy residential and commercial real estate anywhere in Portugal’s autonomous islands of Madeira and Azores, worth at least €500,000 (or €350,000 if investing in a rehabilitation project).
• Fund Subscription: Make a contribution to a qualified investment fund worth at least €500,000
• Capital Transfer: Make a capital transfer of at least €1.5 million
• Scientific Research: Science or Technology research contribution of at least €500,000
• Job Creation: Company incorporation and creation of ten jobs amounting to a minimum value of €500,000
• Donation: Support the arts or reconstruction of national heritage with a donation of at least €250,000.

Interior and low-density residential real estate

Note that important changes to the Golden Visa rolled out on 1 January 2022. This includes changes to the residential real estate pathway. It is no longer possible to invest in residential real estate in hotspot areas of the country, ruling out Lisbon, Porto, and much of the Algarve. Only interior areas are eligible for the residential pathway of the scheme, but, note that for commercial property, there are no location restrictions. The reason for this change was to diversity the investment portfolio and provide development to other areas of the country.

Despite the change, there remain some excellent properties in the interior areas of Portugal, many of which fall in the “low-density” category, where a 20% discount will apply. Some of the areas that have high-growth potential are the Douro Valley, Aljezur, and Peneda Gerês.

You can read more about the interior areas here.

 

Can I get Portuguese citizenship through the Golden Visa program as a New Zealand citizen?

With the Portugal Golden Visa for New Zealanders, you can have both Portuguese citizenship and New Zealand citizenship. Both countries allow for dual nationality, so you will not have to renounce your New Zealand citizenship if you decide to apply to become a Portuguese citizen.

You will be able to apply for Portuguese citizenship after five years of holding your Golden Visa and keeping your investment. During these five years, you will need to spend a minimum of seven days in Portugal in the first year, then no less than 14 days for each subsequent two-year period. This short-stay requirement is excellent for New Zealanders who are not ready to leave the beauty of their homeland just yet.

One further requirement for Portuguese citizenship is that you will need to pass a basic Portuguese language exam. You can find out more about this language test here.

 

Global Citizen Solutions: How we can help you

Global Citizen Solutions is a boutique residency and citizenship by investment consultancy, focused on finding the right investment, citizenship, or residency program for individuals across the world. We work solely on behalf of our clients throughout the process for an easy and hassle-free journey to your desired route.

The Portugal Golden Visa for New Zealanders is an excellent option to secure EU residency. Get in touch today to see how we can understand your objectives and help you move towards becoming a global citizen.

The following articles may be useful to you:

Portugal Golden Visa Statistics 

Spain vs. Portugal Golden Visa: Which Program to Pick?

Portugal Golden Visa: 280,000 Euro Real Estate Option

 

Frequently asked questions about the Portugal Golden Visa for New Zealanders:

What is the Portugal Golden Visa?

The Portugal Golden Visa provides investors with residence permits in Portugal, provided they make a qualifying investment in the country. The Portugal Golden Visa for New Zealanders is a good option for them to secure EU residency, with the possibility of citizenship after five years.

Can I get Portuguese citizenship through Golden Visa program as a New Zealand citizen?

Yes, absolutely. Both Portugal and New Zealand allow for dual citizenship, meaning that you will not have to renounce your citizenship to become a Portuguese citizen.

What does the Portugal Golden Visa cost?

The minimum qualifying investment for the Portugal Golden Visa is €250,000, which is the donation pathway.

What are the Portugal golden visa new rules?

New rules for the Portugal Golden Visa came into play on 1 January 2022. Under this:

• The minimum investment threshold to qualify for residency increased.
• The investment fund amount option is now €500,000.
• The capital transfer amount is now €1.5 million
• New residential real estate investments must be made in interior areas of the country, ruling out hotspot locations, including Lisbon, Porto, and much of the Algarve.
• Other Golden Visa investment routes remain available.

You can find out more about the Portugal Golden Visa changes here.