The Portuguese Golden Visa, officially known as the Residence Permit for Investment Activity (ARI), is designed to attract foreign investors by offering a pathway to residency in Portugal. Launched in 2012, this program provides a gateway for non-European Union, non-EEA, and non-Swiss citizens to live, work, and study in Portugal. It also offers the possibility of applying for permanent residency or citizenship after maintaining the investment for a specified period.
Eligibility Requirements
To qualify for the Portuguese Golden Visa, applicants must meet certain criteria, including:
- Investment Options:
- Capital Transfer: Transfer a minimum amount into a Portuguese bank account or other approved investments.
- Investment Fund: Invest in a qualified Portuguese investment or venture capital fund.
- Business Investment: Create or maintain jobs through business investments.
- Scientific or Technological Research: Invest in research activities.
- Cultural or Artistic Support: Invest in projects preserving national cultural heritage.
- Personal Requirements:
- Be at least 18 years old.
- Hold a valid Schengen visa for entry into Portugal.
- Have a clean criminal record.
- Maintain private health insurance during the stay in Portugal.
- Show proof of sufficient financial means for themselves and dependents.
Application Process
The process for the Portuguese Golden Visa involves several steps:
- Select an Investment: Choose an investment option that meets the program’s criteria, such as capital transfer, business investment, or other approved activities.
- Submit the Application: Apply through the Portuguese Immigration and Borders Service (SEF) with required documents, including proof of investment and a clean criminal record.
- Obtain Residency Permit: Once approved, the applicant receives a temporary residency permit, valid for one year, renewable every two years.
- Renew Residency Permit: The permit is renewed every two years, with the requirement to stay in Portugal for at least 14 days within each two-year period.
- Apply for Permanent Residency/Citizenship: After five years of investment, applicants can apply for permanent residency, and after six years, they may be eligible for citizenship, provided language requirements and integration into Portuguese society are met.
Due Diligence Process
A thorough due diligence process ensures that applicants of good character are granted residency. This process includes:
- Criminal Record Verification: Police clearance certificates are required from countries where the applicant has resided.
- Schengen Information System (SIS) Check: Authorities review the applicant’s status in the SIS for any security concerns.
- Financial Due Diligence: Applicants must prove that their investment funds are legitimate.
- Document Verification: All personal and investment documents must be authenticated and verified.
Requirements for Dependents
Dependents, including spouses, minor children, and financially dependent adult children, can be included in the application. Required documentation includes proof of relationship, clean criminal records, health insurance, and financial support for dependents.
Benefits of the Portuguese Golden Visa
- Residency and Citizenship: The visa allows investors and their families to live, work, and study in Portugal, with the potential to apply for permanent residency after five years and citizenship after six years.
- Visa-Free Travel: Holders of the Golden Visa enjoy visa-free travel within the Schengen Area.
- Family Inclusion: Immediate family members can also obtain residency under the same application.
- Tax Advantages: Portugal offers favorable tax regimes, including the Non-Habitual Resident (NHR) scheme, which provides significant tax reductions.
- Access to Public Services: Golden Visa holders can access Portugal’s high-quality healthcare system and educational institutions.
The Portuguese Golden Visa Programme is a popular option for investors seeking European residency and eventual citizenship. This program offers significant benefits, including access to Portugal’s stable economy, visa-free travel in Europe, and attractive tax advantages.
