You can also provide your lawyer with a power of attorney and they can complete this step without you even being present in Portugal. The acquisition does not need to be in a single property but may involve a number of properties provided that the minimum amount is met. Best Golden Visa checklist to get a Portuguese Golden Visa. If you're feeling generous but would rather your money went to a research facility, such as a scientific research institution, rather than Portugal's arts and culture sector, this golden visa route might be a better option for you. You can find out about other types of Portugal visas by going through the left sidebar. This article is the ultimate 2023 source regarding Portugal's Golden Visa changes that took place in January 2022 and the most recent information on the Portugal Golden Visa. The actual updates to the law were published in February 2021, so potential applicants had time to adjust. However, you can receive loans from anywhere outside of Portugal and transfer the money to the country. You need to renew it two times. Although other methods are available (see FAQ below) the real estate route accounts for over 92% of all applications. The Golden Visa. Golden Visa Portugal: requirements and how to apply Updated: document.getElementById( "ak_js_4" ).setAttribute( "value", ( new Date() ).getTime() ); Portugal Golden Visa program offers different investment options. The scheme allows investors and their families to obtain residency permits in exchange for a qualifying investment. There was hope that the Portugal Golden Visa suspended changes would not go ahead as professionals from the property sector expressed concerns that the changes could harm the property market. This includes opening a Portuguese bank account, purchasing real estate, etc. event : evt, The authorities want you to provide evidence that you will keep your investment for a certain period of time. You may not like the new rules, but at least now they are official. Bear in mind that the proof of investment must be received to submit to the officials. With your qualifying investment made and your paperwork ready, you will submit your pre-application online to SEF. Required fields are marked *. Some reputable developers, such as Mercan (who has been by far the most popular developer among Nomad Gate readers) offer several commercial hotel development projects around Portugal, which you can invest in for 280,000 or 350,000 depending on the area (with guaranteed buyback once you receive your citizenship or permanent residency). Portugal Golden Visa Changes for 2022. The R&D route and company formation options are increasing from 350,000 to 500,000, and the pure transfer a bunch of money to a Portuguese bank account and let it sit there option will now require a 1.5 million commitment rather than the previous 1 million. That way, you can avoid districts with long waitlists such as the SEF office in Lisbon. The funds for the investment should arrive from outside of Portugal. Are Loans Allowed for the Golden Visa Investment in Portugal? Gather the required supporting documents. The capital transfer amount requirements have increased from 1 million to 1.5 million. You can work, study and your family can move there too. As the main applicant, you must maintain the investment as long as you and your dependents hold Golden Visa residency status. Ithasnot yetbeen clarified if there will be an alternative investment program put in place of the Portugal Golden Visa program. With regards to real estate investments, the following will apply: Properties in Lisbon, Porto, and other popular urban coastal towns will NOT QUALIFY for residential property investments under the Golden Visa scheme, only commercial real estate . A lot of people have been asking if the Portugal Golden Visa is suspended. criminal records), biometrics, and necessary application processing fee. However, due to variables pertaining to the property itself, location and market volatility, the return on this type of investment is more volatile and less predictable. Golden Visa Portugal Suspended Changes Came Into Effect in 2022. More Housing) bill. Find the appropriate investment procedure, Step 2. If you would like to know more, you can consult our article Portugal Golden Visa is Ending for the latest updates. TheSEF Procedure Manual (in Portuguese) foresees a deadline of 10 to 60 days for the scheduling of the biometrics collection. Investing in low-density areas Alternative Golden Visa Route: Investment Funds Madeira Golden Visa: Property Taxes You need to legalize the document thats been issued by a non-Portuguese entity: If the country you have received the document is part of the Hague convention, the legalization must have an apostille. Printed payment receipt from the ARI portal when you apply and pay the fees. The legal provision (Article 105) states that SEF has three months to inform the applicant of their decision and indicate the dates available for the applicant to make an appointment (this can be extended to a further three months in exceptional circumstances). Applications will be accepted until the law is published, and pending applications and renewals will transition to a D2 Entrepreneurs Permit, maintaining the 7-day per year stay requirement. If thats not an issue for you, then its still an attractive (and usually tax-efficient) investment path. If you buy accommodation that is older than 30 years old and in a rehabilitation area, you can invest 350,000, but you need to renovate the place. But as mentioned, managed commercial real estate is also a good hands-off investment option if the investment amount is important to you, and if you go with a reputable developer itll be easy to complete everything up until the SEF biometrics appointment remotely. some ideas out there. Here is a summary of the current situation resulting from these changes. The scheme started in 2009 and now holds over 10,000 applicants. Yes, the Portuguese Golden Visa authorizes applicants to work and study in the country. We help people get an additional residency and citizenship by making a qualifying investment through property acquisition, fund subscription, or other investment vehicles. The Portugal Golden Visa will receive an extensive makeover, starting from 1 January 2022. On the date on which this law enters into force, any pending applications for the residence permit for investment shall remain valid. At the end of this period, you need to renew your residence permit. Dependent children under the age of 26, provided that they are full-time students and not married. Should discussions not go as he hopes, Albuquerque has warned that he is prepared to join forces with the Azores, Portugals other Autonomous Region, which is in the same situation. We use cookies to ensure that we give you the best experience on our website. You may then renew your Golden Visa residence card and the next cards will each be valid for three years at a time. Portugal golden visa is the most famous and favored immigration program to the Eu that enables lots of benefits. Within those three years, you must spend at least twenty-one (21) days in Portugal. Absolutely. Nevertheless, the fund option also started gaining traction in recent years. Alongside the capital transfer price change, requirements for the investment fund route, the research option, and investing in an existing Portugal-registered business have increased from 350,000 to 500,000. The legalization must have an apostille if the subject country is part of the Hague convention. There are many resources online that you can prepare for the Portuguese test. You need to be at least 18 years old and have a valid passport or travel document from your country of residence. As Get Golden Visa, were committed to assisting you through your Golden Visa journey. Your initial Golden Visa residence card will be valid for two (2) years. Must be issued within three (3) months of the form submission. Weve been serving our clients since 2014 with our expertise in independent investment advisory. There are a few groups of countries who cannot apply for the program they are as follows: Visa applicants can not be from the above list of countries. Can you bring your family under the Portugal golden visa? If you want to qualify for the Portuguese Golden Visa through direct residential real estate investment, you can no longer invest in the two largest cities of Portugal, nor along large parts of the coast of the mainland. Portugal Golden Visa Program gives you visa-free access to the Schengen states. The law will go into effect when published in the official journal. 1070-102 Lisboa, Portugal, The Golden Visa Portugal program is a hugely popular way for international investors to secure a European Union passport or residency permit. So, you can freely travel within Europe without an additional visa.At the end of five years, if you decide to get Portuguese citizenship, you can get a Portuguese passport. This is probably the quickest route for obtaining meeting the requirements for Golden Visa application and is easier to capitalise at the end and more tax efficient than other options. This includes the minimum stay requirement of staying in the country for seven days a year, on average. Portugal launched the program in October 2012. Check out the map below explaining the differences. VFS Global in India Detects Group Using Falsified Documents to Apply Its best to wait for the final approval of the changes to the Golden Visa program. The banking and maintenance fees are also quite low compared to the rest of Europe. For example, in the case of 2 applicants the total value has to be 1 million or above in which each invests more than the minimum. Portugal Golden Visa Free Guide 2022: benefits, requirements, application process. Acquire real estate for at least 500,000. Then take your time to find a home for your family where it makes most sense for you, with no time or cost pressure due to needing to meet Golden Visa requirements. Portugal Golden Visa Program | Real Estate Investment Other ways to match Portugal Golden Visa Changes 2022 requirements. This includes future renewals of your status. However, the real estate investment route continues to be the most popular option. The governments reasoning behind bringing the Golden Visa program to a close it that it is no longer justifiable to continue the scheme. Choosing the best route for your Golden Visa investment can be difficult. Have your documents translated into Portuguese or Englishby a verified translator. You can read more in our article:Portugal Golden Visa Delays Causing Applicants to Take SEF to Court to Speed Up the Process. On 30 March, the Council of Ministers met to present the final proposal. For a comprehensive list of funds and their details, feel free to get in touch with us. Portugal Golden Visa: full guide (2022) 3)Declaration from a Portuguese financial institution confirming the transfer of funds. Maintenance, repair costs and IMI may be deducted from this tax amount. These include the right to work and live in Europe, as well as travel freely within the European countries, and particularly the right to apply for EU citizenship at the end of five years. The interior/non-interior areas that determine whether an investment in residential real estate is allowed are, for the most part, determined at the municipality level. This provides them with the right to travel within the Schengen Area. Portugal Golden Visa Properties: Real Estate Requirements The minimum investment in the case of preserving national heritage in Portugal is 250,000. Then you can apply for a visa which could take up to six months. Golden Visa Changes in 2022 Madeira Golden Visa: Property Investment Thresholds 500,000 Golden Visa threshold 350,000 Golden Visa threshold What exactly counts as 'rehabilitation' - can I just add a few coats of paint? Invest a minimum of 500,000 in a research and development activity in Portugal. You need to finalize your investment in Portugal so to apply for the visa. The article explains who is eligible for the golden visa, requirements, the application process, and the new changes in 2022. Your income within Portugal, however, needs to be declared in Portugal and you need to pay taxes on that income. Just as in any business, there are many inexperienced individuals and firms claiming to provide services within the RCBI field as well. If you were planning to invest in residential real estate in Lisbon, Porto, or along the coast, then you have already missed the train. There may be some changes to this based on litigation, but to be on the safe side, its better to assume that this list is correct. *Note that residential properties in Lisbon, Porto, and coastal towns of the mainland dont qualify investors for a Portuguese Golden Visa. The main applicant has to be a non-EU, non-EEA, and a non-Swiss citizen of 18 years or older, and make a qualifying investment within Portugal. To produce up-to-date and accurate content, we have used very reliable government resources. Make sure you have a professional and experienced team holding your hand throughout the process. The practicalities of the measures were not clearly defined, so we are still in a phase of speculation. The applicant must provide a sworn declaration and verify that he/she will keep his/her investment in the country for five years. You only have to pass a Portuguese test if you decide to become a permanent resident or citizen in Portugal after five (5) years of holding a Golden Visa. The new law will not apply retroactively to people who have already been granted a Golden Visa. The processing time for the citizenship application process is six months to one year. From eligibility to benefits, make an informed decision. Jordan Pandy. Greece, Spain, Italy and Latvia's Golden Visa programmes require a 183 day stay per year in the country (becoming tax residents by doing so). the United States) it may take a few months to get an apostilled copy of your criminal records, for example, these have limited validity (3 months), so its better to only request them twice: Before submitting your online application and once you know the date of your in-person biometrics appointment. Your questions about the visas will be answered in the comment section below. In most cases, your law firm will do this on your behalf and notify you if there is anything missing. Get Golden Visais a bespoke investment advisory firm. He stated that the regional government of Madiera refuses to apply the measures of the, Albuquerque stated that Madeiras autonomy grants the island a range of powers that include the . No. I also noticed that pretty much all the maps out there showing the allowed real estate regions in 2022 were inaccurate, so I created a new one and shared all the assumptions and sources used, so you can verify for yourself that its correct. Passport or government-issued travel document. The announcement made by the Portuguese Government on February 16, 2023, confirms that the Portugal Golden Visa program is indeed ending. After holding a Golden Visa for five years, you can apply for citizenship or permanent residency in Portugal, leading to a passport. Portugal Golden Visa Programme 2022 - High & Low Density Regions US citizens are eligible to apply for the Portuguese Golden Visa. You can learn more about the A2 level exam on our Portuguese Language Test Guide. . Capital transfer of a minimum of 1,5 million to Portugal. 5)Criminal record of the current country of residence. In this video, our Regional Partner Werner Gruner explains the pros and cons of real estate and fund investment routes. The Golden Visa investment needs to be performed by the main applicant as an individual. Since its launch, the Portugal Golden Visa has been a true success, with 11,384 investors and 18,617 family members benefiting from the Golden Visa program. You and your dependents receive your Golden Visa residence cards. Starting from 2022, purchasing real estate in Lisbon, Porto, Algarve, Setubal or popular coastal areas, will not qualify you for a Golden Visa. And to get started with the application process, check out the list of the most popular law firms among our readers. Investors can purchase commercial property anywhere in the country worth at least 500,000 or 350,000 if investing in a commercial rehabilitation project. After analyzing your pre-application, SEF will provide you with a set of available dates for a biometrics appointment. If you continue to use this site we will assume that you are happy with it. Portugal Golden Visa Residency by Investment: Application and Requirements 5 years Return of investment. Only residential property investments in interior parts of the country qualify (there are no location restrictions on commercial real estate). It's up to you, I'm just throwing The application process for Portugal golden visa is as follows, but you might need to go through a different route by the country your live in and your own conditions: The article explained that there are different investment options for Portugal golden visa. Also, if you are siblings, you can invest together in a project, but the amount gets doubled. It is a residence by investment program offered by the Portuguese government to non-EU, non-EEA, and non-Swiss citizens, willing to make a qualifying investment in Portugal. Related article: Golden Visa Portugal: How to get it. However, the proposed changes only allow real estate purchases in municipalities of the interior or the autonomous regions of Azores and Madeira to qualify for the program. That corresponds to a basic knowledge of the language. Americans flocked to Portugal for cheaper, more peaceful lives, but newcomers also brought crowds and drove up the cost of living. The net rental income faces a flax tax rate of 28 percent. You are only required to spend a minimum of seven days in Portugal per year. Not only has the Golden Visa programme helped people live and work in the area, but it has also done wonders for the local economy. In a nutshell: The Portugal Golden Visa program, also known as the residence permit for investment activity (ARI), is a residency by investment scheme designed for non-EU citizens. The update can be seen below. For the map above, Ive made an effort to draw the actual borders of the interior/non-interior areas, no matter if thats along the lines of municipalities or parishes. If you want to find good opportunities for real estate investments in Portugal, you can start by working with an experienced chartered real estate investment professional. Portugal Golden Visa Changes in 2022 | Get Golden Visa If you decide to sell your property at a profit someday, capital gains tax applies for property purchased after 1988. You may not like the new rules, but at least now they are official. Must be at least 30 years old and be a renovation project. If you had plans of launching a Portuguese company employing at least 10 locals or making a 250,000 investment in support of the arts, well, then youre in luck: Nothing has changed for these options. Staying in the country for seven days on average per year will suffice. Job creation: Creation of at least 10 jobs in Portugal. All rights reserved. The closure of the Portugal Golden Visa and the Ireland IIP program marks the end of two of just three direct pathways to citizenship with flexible stay requirements. forms: { 14-Day Requirements: Proofs Portugal Golden Visa . Youll need a NIF in order to perform any official transaction in Portugal. Typically SEF offices in major cities like Lisbon have a high wait time, whereas those in rural areas are less. Each year, hundreds of wealthy individuals rely on our . 8-10 months Obtaining period. Stable recurring income requirements (2022) PER MONTH; Individual: 705: Married Couple: 1057.50: Additional Minor Dependent: 211.50: Additional Adult . Portugal Golden Visa, 2022 changes and new rules - Visalibrary The total number of main applicants reached 11,628 with 18,962 dependents accompanying them. In times like these, time is of the essence. Portugal Golden Visa Guide 2022 Best Golden Visa checklist Through the non-habitual resident tax regime, Portugal attracts professionals and investors of high cultural and economic value to the country. What are the Benefits of the New Zealand Global Impact Visa? The reasons for the programs success are multiple. The announcement comes after the authorities in Portugal, in December last year, had sought to ban investments in both cities and the . If you invest in research and development in Portugal the minimum investment is 500,000. Portugal golden visa citizenship requirements, > how to move to us as a software engineer, > medical residency in japan for foreigners, List of Tech Visas for Working and Starting a Business in Europe Part Two, List of Tech Visas for Working and Starting a Business in Europe Part One. You must also have a NIF number, which is a tax identification number in Portugal, to open the account. For a more comprehensive overview of what interior and low-density areas in Portugal qualify for a Golden Visa, check out our guide to the Portugal Golden Visa Low-Density Investment Options. That way you and your lawyer can easily verify the accuracy of the map. If you are not particularly interested in investing in real estate, the Portugal investment fund Golden Visa is a very attractive investment route. Pending applications and future renewals will be converted to the D2 Entrepreneurs Permit without the usual 183-day residency requirement. The rental income taxes may differ if you decide to rent out your property on a short-term basis to tourists. . Its one of the most famous and favored investment options in the world. The Golden Visa is coming to an end. Global Citizen Solutions can ensure that your Golden Visa application process is a smooth one. If and once you become a permanent resident or a Portuguese citizen, the investment no longer needs to be maintained. For more information on Portugals Golden Visa scheme, visit our Golden Visa Portugal 2023 Ultimate Guide. Your real estate rental income in Portugal is taxed at a flat rate of 28 percent in Portugal. You still have time to lodge your Golden Visa application. Invest a minimum of 250,000 in preserving national heritage in Portugal. There are processing fees for the visa along with the required investment: Portugal law does not allow to bring the fund as a loan or mortgage from a Portuguese bank or financial institution. document.getElementById( "ak_js_3" ).setAttribute( "value", ( new Date() ).getTime() ); Home / Residency By Investment / Portugal Golden Visa: The Definitive Guide 2023. To access the Golden Visa via this route, you need to invest at least 500,000 in one of Portugal's eligible private equity or venture capital funds. The the Portuguese Government announced, on February 16, 2023, that the Portugal Golden Visa program is due to be canceled. As long as the minimum amount is met in total, the transaction may include the purchase of multiple properties. If you have decided to seize this final opportunity heres what we can do for you. The government provided a sufficient grace period to investors before implementing the changes. Learn what documents you need to present to the Portuguese Foreigners and Borders Service (SEF) to start the Golden Visa Portugal process. Yes, you should learn Portuguese, enough to pass an A2-level language exam. After years of rumors and speculation, on January 1, 2022 Portugals Golden Visa program changed drastically. Investment opportunities. No matter which path you choose, you can already start the preparations so youll save time once youve decided on your investment. Please check our article on Portugal Golden Visa Ending to find out the latest details. Contact us and talk to one of our experienced team members to help you with any and all your questions in your quest forPortugal Golden Visa. Portugals Golden Visa program is one of the most popular residency by investment programs in Europe and in the world. It can be rented out or used as the investor wishes. See if you can complete the required steps or not. Get Golden Visais a bespoke investment advisory firm. No, you do not need to pass a language test in order to qualify for the Golden Visa. Yes, the Golden Visa Portugal leads to citizenship, indirectly. Unless otherwise stated, it is best to have the documentation issued within three months of your Golden Visa application submission. In other words, those of you who applied for the Golden Visa by December 31, 2021 (including proof of completed investment) dont need to worryyoull be grandfathered into the old rules, including for any future renewals of your status.