Understanding the Portugal Golden Visa process in Six simple steps.
Are you planning to move to Portugal? Portugal extends a few ways to get permanent citizenship or residence visa, among which Portugal Golden Visa Program is the most popular. It is a residence visa issued to non-EU nationals who made a significant investment in Portugal. It is the fast-track process through which you can become eligible for Portugal citizenship in as little as five years.
Recently the program has garnered huge popularity. The reason is that the world is becoming more globalized, so moving overseas has become much easier. However, some of the requirements must be met to make the process a success. To simplify, we have put together everything you need to know about the process.
What are the benefits of the Portugal Golden Visa Program?
The Portugal Golden Visa is garnering huge popularity in the world due to its range of benefits.
- With a minimum of €280,000 investment, you can qualify for permanent residency or citizenship.
- No need to move to Portugal to keep your residence permit functional. A mere seven days per year stay in the country is enough.
- You become eligible for permanent residency or citizenship in as little as 5 years. It is the quickest process throughout Europe.
- When you get a Portuguese residency or citizenship, you can enjoy visa-free travel to 188 countries.
6 steps to understand the Portugal golden visa process
- Visit Portugal and select your investment type.
First things first, you need to plan a trip to Portugal to see different investment options and start the investment process at the earliest. This is not obligatory but it helps you familiarise with the people helping you and the country. Several investment options include real estate acquisition, fund subscription, capital transfer, company, donation, and others. Then, you or the chosen lawyer must set up the necessary meetings and documents to make investments.
Keep in mind you need a Portuguese Schengen Visa for this short trip if you are a non-EU national.
- Set up a Portuguese bank account and tax number
Next, you need to have a valid bank account and tax number. Talking of tax numbers or NIF numbers, it is possible to get them from a local office for tax and customs authority.
A bank account can be set up with any trusted financial institution. The process is simple and pretty much like any other place in the world. Just visit the bank and ask to set up a bank account.
All you need are a few documents to submit, such as income proof, home address, and identification proof.
- Complete the investment process
Generally, the investment could take up months to get finalized. You can’t even apply for the golden visa program without the documents proving your investment. So, after you get a tax number and a bank account, focus on completing your investment. For this, you need certain mandatory documents. And once you are through with the investment, collect the necessary documents to apply for the golden visa program.
- Apply for the Golden Visa Program
After the successful investment, apply for the Golden Visa program with Immigration and Borders Service (SEF).
A step-by-step guide to applying for the program:
- Register with the ARI Portal.
- Attach electronic copies of the required documents.
- Pay the fees.
- Wait for confirmation from SEF.
- Schedule a meeting with a local representative of SEF in your area to apply.
- Receive your Portugal residence permit
Generally, it takes around three to six months to get your residence permit card after submitting the application form. Initially, this permit card is valid for a year; later, it can be renewed for a maximum of five years.
The permit allows you to enjoy the same benefits as a Portuguese citizen or resident to work or live freely in Portugal.
- Apply for Portuguese residency or citizenship
Once you have completed five years of successful investment in Portugal, you become eligible to apply for permanent residency or citizenship in Portugal. For this, you need to pass a general knowledge test. The test depicts your proficiency in speaking Portuguese at an A2 level and that you do have a general understanding of the society and laws of the country.
Undoubtedly, the Portuguese golden visa is the most popular permanent residency or citizenship by investment program throughout Europe. By meeting certain requirements, you can fulfill your dream of moving overseas. All you need is to get in touch with trustworthy and dedicated immigration services to help you hail through the process smoothly, effectively, efficiently, and discreetly.