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How to get a Golden Visa Portugal?
The concept of the Golden Visa Portugal has been in place since October 2012, designed to attract investment from non-EU residents. In exchange for a 6-year investment in real estate, the investor receives a residence permit. The success of the program is evidenced by the increase in the country's economy, as it has attracted approximately 6 billion euros in the last 10 years.
The Portuguese investor visa
The Golden Visa Portugal provides the right to legal residence in the country for the purpose of investing. While the principle of obtaining citizenship through investment is not new, it has been most successful in Portugal. Its peak of popularity was in the period after 2015, when the authorities made concessions to foreigners and lowered investment limits.
The following investment proposals are currently available:
- real estate starting at 280k;
- business starting at 500k;
- venture fund starting at 500k;
- bank deposit starting at 1500k;
Recently, an opportunity has arisen to invest in the scientific and research spheres and contribute to the preservation of Portugal's cultural heritage.
Who can obtain a Golden Visa Portugal
The conditions for obtaining a Golden Visa Portugal are quite lenient and do not have strict requirements. The following individuals are eligible to participate in the program:
- adults who are not citizens of the EU;
- persons without criminal records and debts to Portugal;
- citizens with existing medical insurance;
- Individuals with proven sources of investment received outside of Portugal.
The application can only be denied in cases of insufficient income or the provision of false or incomplete information. Therefore, it is recommended to use the services of a lawyer in Portugal, who can provide support and assistance in many aspects of obtaining the visa.
Procedure for obtaining a Golden Visa
While anyone can independently deal with obtaining a Golden Visa, it should be noted that doing so will require experiencing all the subtleties, nuances, and bureaucracy firsthand. The procedure can be expedited by a lawyer in Portugal, who can take on a set of tasks through an agreement with a legal agency. This includes preparatory processes, collecting a set of required documents, assistance in finding investment opportunities, and full support throughout all stages of the process:
- Preliminary investor verification - an audit to verify the investor's integrity, solvency, legality of income, and tax payments.
- Contract negotiation - involves agreeing on the scope and stages of cooperation between the parties.
- Search for investment objects - independent search by the investor or through an agency in accordance with the goals and scope of investment under the program.
- Opening a bank account - involves the investor's visit to Portugal or the agency opening an account on the basis of a power of attorney.
- Application for a residence permit - involves the investor and their family members traveling to Portugal, submitting the necessary documents, and providing biometrics.
- Obtaining the permit - usually after 3 months of application submission, the permit is obtained by the agency's authorized representatives and sent to the investor's country.
- Permit renewal - the agency helps in extending the permit's validity period
- Application for citizenship - the final stage of cooperation with the agency and the main goal of the investor
To this day, over 90% of investors choose to invest in real estate. However, the expanded Golden Visa program in 2022 provides an opportunity to find an individual approach to obtaining a residence permit in Portugal. Experts in obtaining a Golden Visa in Portugal will help solve any investor's questions without a difficult path.
