Under family reunification, the main applicant may extend the Golden Visa to the rest of the family members. The proposal states that rules need to be changed, but it doesn’t exactly specify how. This has lead to a total of 5.2 billion Euros investment into Portugal. You can find a detailed list of all within the article above. Transfer capital of at least €250,000, as investment or support for artistic production, or recovery or maintenance of national cultural heritage. The wait time for the Golden Visa application changes constantly and it highly depends on which SEF (Immigration and Borders) office you applied to. The Portugal Golden Visa is a residence visa issued to non-EU nationals who have made a significant investment in Portugal. It is granted by the nation where he or she wants to visit, live, or work. For a complete list of these options, you can check the above in this article. The banking and maintenance fees are also quite low compared to the rest of Europe. To alleviate the pressure of the European Commission on the Portugal residence by investment program. Acquire real estate worth more than 500,000 Euro in Portugal, →If in a low-density area in Portugal, the minimum amount drops 20% to 400,000 Euro, Acquire real estate that is older than 30 years old, in an urban rehabilitation area, and renovate it for a minimum of 350,000 Euro in Portugal, →If in a low-density area in Portugal, the minimum amount drops 20% to 280,000 Euro, →The minimum amount contains both the property investment price plus the cost of renovation works. Yes, the A2 level Portuguese language test is the only accepted exam in order to satisfy the citizenship requirement in Portugal. Lisbon shines out as one of the most affordable European capital to live. Other documents include proof of address, marital status, employment letter, and bank reference letter. Important Note: As of April 2020, the initial residence permits became valid for two years (used to be one year) and the subsequent permits became valid for three years each. Portugal — 'Golden Visa' from €350,000 (£315,919 or $406,200). For US donors, please click here Sign me up for the newsletter! Nevertheless, there are still attractive destinations among the interior municipalities of Portugal such as part of the Algarve region in the south or areas like Braga and Guimaraes in the north. Real estate acquisition taxes are significant, however, the costs do not stop there. American business owners may also choose to expand their businesses to Portugal, taking advantage of the Golden Visa program. As a result, many young professionals choose to move there. From 2012 to 2018, the regular parliamentary sessions were held in a new building specially constructed for this purpose in Kutaisi, then the second largest city of Georgia, 231 kilometres (144 mi) west of Tbilisi. for example, it is not currently clear what the cutoff date is for getting Portugal’s golden visa according to existing rules. You can learn more about the A2 level exam on our Portuguese Language Test Guide. Timeline: What is the timeline for the Golden Visa process? Proof that you fulfilled the minimum stay requirement for five years. At the end of five years, if you decide to get Portuguese citizenship, you can get a Portuguese passport. This program provides a quick way to obtain a residence permit in Portugal and can also count as a citizenship by investment program. In order to complete this investment, three steps must be taken: The purchase of a real estate property that is at least 30 years of age and. It can take up to six months for SEF to approve and provide a biometrics appointment date, as long as it is not one of the high-demand locations. criminal records), biometrics, and necessary application processing fee. In other words, it completely depends on the investor and the investor’s needs. Portugal is very progressive in terms of LGBTQ+ rights. Even if you spend more than 183 days yearly in Portugal. The residence permit allows visa-free access to Europe’s Schengen Area and requires an average stay of just seven days a year in Portugal over the five-year period. Get Golden Visa: Who we are and How we can Help You. Types of work visas. Your Golden Visa residence permit card will allow you to travel freely within the Schengen Area without an additional visa, which is a very desirable advantage for non-EU citizens. The applicants enjoy free travel within the European Schengen visa zone. The capital of Portugal and the largest city in the country is, like Porto, located on the Atlantic coast. Imposto Municipal sobre Imoveis (IMI) is the annual tax rate that needs to be paid by property owners in Portugal. The most popular form of investment for the Portugal Golden Visa is the real estate acquisition option. The funds for the investment should arrive from outside of Portugal. Just remember that you will need to know some Portuguese, so if citizenship is your goal, make sure you study the language. Just follow the below steps: Simple as that. A minimum of 350,000 Euro investment in a qualifying Portuguese venture capital fund. We are currently following all the updates on this proposal and will keep updating you with news as they develop. Just as in any business, there are many inexperienced individuals and firms claiming to provide services within the RCBI field as well. The Portugal Golden Visa grants all the benefits of living and working in Portugal to the family members. The transfer of capital criteria raised 1.3 million euros. A coastal city with a long sea-faring tradition, Lisbon his steeped in history, tradition, and culture. Golden Visa applicants have the right to live and work in Portugal, but there is no requirement to do so. No, you are not required to register or pay Social Security contributions in Portugal. Before making the investment, you need to get an NIF number and open a Portuguese bank account. The choice can look a little scary at first glance, but in fact quite a few visas are unlikely to be relevant for most people. Get Golden Visa is a full-service investment immigration agency. In addition, there are very few restrictions on buying property for foreigners, which is why many people choose to have a second home there. After you renew your initial Golden Visa card twice and complete a total of five years, you are eligible to apply for permanent residency or citizenship in Portugal. If you decide to sell your property at a profit someday, capital gains tax applies for property purchased after 1988. In case the change is permanent, it is expected that the initial card that is valid for two years will require the cardholder to spend at least fourteen days within that two year period physically in Portugal. Complete the Investment & Submit Application to SEF, 1st Golden Visa Residency Card Issued, valid for one year, Renewal of Golden Visa Residency Card, new card valid for two years, Second renewal of Golden Visa Residency Card, new card valid for two years, Three options: Continue with Golden Visa, become a Permanent Resident, Apply for Citizenship. Following members of the family are eligible to apply along with the main applicant: Dependent children under the age of 26, provided that they are full-time students and not married, Parents of the main applicant, if over the age of 65 years old. The highest number of applicants came from: The Portuguese Parliament recently passed a budget proposal, which seeks to change the Portuguese Golden Visa program. These include IMT (ranges between 5% to 7% depending on the type and price) and stamp duty (0.8%). Conversely, if multiple applicants are purchasing one property of a larger purchase amount, they may also combine their investments. It will not impact anyone who is already approved for a Golden Visa before then. To ensure the translation is certified by a Portuguese notary or Portuguese consulate to meet the requirements of SEF. We would be happy to guide you to a number of different experienced law firms in the field of Portuguese Golden Visa. Acquiring citizenship through the Portuguese golden visa takes five years. Within that year, you are expected to spend a minimum of seven days in Portugal. For a comprehensive list of funds and their details, feel free to get in touch with us. Both obtaining a NIF number and opening a bank account in Portugal are pretty straightforward. The golden visa Portugal grants the holder many benefits, such as: Do I have to hire a lawyer to apply for a golden visa to Portugal? Frequently Asked Questions on the Portugal Golden Visa, Portuguese Education System and International Schools, urban rehabilitation project worth at least 350,000 Euro, foreigners getting a mortgage in Portugal, Portuguese Citizenship for Sephardic Jews, Cyprus Citizenship by Investment Is Cancelled, Malta Officially Updated Its Residency Visa Program, Prima Collection Lisbon Square by Optylon Krea: The Definitive Review, It provides a range of relatively affordable investment options for you to choose from in obtaining your residence permit, You are only required to spend a minimum of seven days in Portugal per year, It gives you visa-free access to the Schengen states, You can become a Portuguese citizen within five to six years, Portugal is not a blacklisted country and its Golden Visa program is not a blacklisted residence program either. The immigration office, Serviço de Estrangeiros e Fronteiras (SEF), has an online portal where you can submit your application. Get a permanent resident card from a foreign country. Accordingly, same-sex partners are eligible to get the Golden Visa as dependents, under family reunification. Thanks to Double Taxation Treaties, you will not be taxed multiple times on the same income. It is an investment immigration program bringing funds from foreign investors into the Portuguese economy. Its poorly named Non-Habitual Resident tax program can mean reduced or even no … What’s the minimum amount I can invest in the Portugal golden visa program? And that one owner will qualify for the visa, along with his family members as stated above. for example, if you have submitted your application to SEF and got the approval it’s highly likely that you’ll go through the existing rules. Are Loans allowed for the Golden Visa investment in Portugal? It typically takes around four months to receive these residence permit cards. 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