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Portugal Golden Visa Program requirements and process

Portugal Golden Visa Program requirements and process

portugal-golden-visa-program-requirements-and-process

Portugal Golden Visa is a program which has straightforward procedures and a clear timeline, to be eligible to apply under this program, applicants must be a third-country national, which means that you cannot be a citizen of EU (European Union) or EFTA (European Free Trade Association), applicants are also required to have a clean criminal record which means that they should not have any criminal records in any country that they have previously resided in, the Portuguese government also requires applicants to maintain their investments for a period of 5 years, and it requires them also to spend a minimum of seven days in Portugal for the first year, and no less than 14 days in each subsequent two-year periods. 

Steps for applying and obtaining Portugal Golden Visa

  • The first step of the program is deciding on the qualifying investment type that you will be undertaking.
  • After deciding which investment route you’ll go through, you have to make the necessary arrangements to actually make the investment, whether by transferring the required capital or by purchasing the real estate, it is important to note that real estate purchases may take from 1 to 3 months to finalize.
  • In order to be able to complete the required investment transfer, applicants are required to open a bank account in Portugal, and register for a tax number which is called “Numero de Indentificacao Fiscal (NIF Number).
  • Applicants then are required to finalize their investment procedures through transferring the required investment amounts to their bank account in Portugal 
  • Gather documentation and translate the required documents; in this stage applicants are required to translate their documents into the Portuguese language, and certify these documents as per the requirements of SEF (Foreigners and Borders service) in Portugal.
  • Applicants are then required to apply online through SEF (Foreigners and Borders service) online portal and submit their applications, and will then pay the application fees and attend a biometric collection session. 
  • Upon receiving the government’s approval, applicants are required to pay for the issuance of the residence permit, which as of September 2019 is 5,274.4 Euro per applicant. 

The residence permit which the applicants will receive will be valid for a period of 1 year, and they are required to apply for renewal at the end of the first and third years. 

Sources:

Foreigners and borders Service official website