Portugal Golden Visa Program

Portugal's Golden Visa program is a residency by investment program that offers many benefits to foreign investors. In this guide, we will go over who is eligible for the program, how much you need to invest, what the benefits and limitations are, and more. Keep reading to learn everything you need to know about Portugal's Golden Visa program!

Who Is Eligible for the Portugal Golden Visa Program?

In order to be eligible for Portugal's Golden Visa program, applicants must meet one of the following criteria:

• Make a real estate investment of €350,000 for rehabilitations or €500,000 for any other property (these values can be reduced of 20% if property located in low density area),
• Capital investment of €500,000 or more in an investment fund (could be real estate fund) or venture capital fund
• Create 10 new jobs in Portugal,
• Invest €500,000 or more in research activities,
• Invest €250,000 or more in art or conservation projects,
• Capital transfer with a value equal to or above 1.5 million Euros

Applicants must also have a clean criminal record and be able to show proof of means of subsistence. Moreover the applicant will only needs to stay in the country  for a minimum of 7 days for the first year and 14 days per year therafter.

What are the Portugal Golden Visa rules for Real estate investment

The Portuguese Golden Visa program provides a wide range of property investment options:

• Purchase of one or multiple properties
• All property types qualify
• Possibility of co-ownership;
• Freedom to use, rent or lease

Residential Real Estate

To be eligible for the Golden Visa the applicant will need to make a real estate investment of €350,000 for a rehabilitation project (construction dating back more than 30 years or located in urban regeneration areas) or €500,000 for any other property.

This price is reduced by 20% if the property is located in an area of low population density.

Residential property in urban areas such as Lisbon, Porto and most areas of the Algarve will no longer qualify although there are some exceptions. Investors can buy residential real estate anywhere in Portugal’s autonomous islands of Madeira and the Azores, worth at least €500,000, or €350,000 if investing in a rehabilitation project.

Commercial Real Estate

There are no geographical limitations for commercial real estate. Investors can purchase commercial real estate intended for services, commerce, tourism, aparthotels, and even Airbnb (with proper Licensing/registration) etc anywhere in the country worth at least €500,000, or €350,000 if investing in a commercial rehabilitation project. And if the commercial property is located in a designated low-density area, then a 20% discount applies.

Real Estate Funds

Applicants can also transfer capital of €500,000 or more in a real estate fund invested in residential properties anywhere in Portugal. This would make it possible to continue investing in residential property in urban areas such as Lisbon, Porto and the Algarve.

What areas of Portugal are eligible for a real estate Golden Visa investment?

Interior / Non-Interior regions 

As we have seen above it is possible to invest in commercial real estate all over the country, but for residential real estate, to be eligible to the Golden Visa, the property needs to be located in the "Interior Regions" of Portugal. The definition of what is considered interior is defined by a fixed map that was published a couple of years ago.

Lisbon, Porto and most of the Algarve are considered non-interior regions and as such are not eligible for residential golden visa. 

Low density areas

Low-density areas determine whether or not a 20 percent discount rate applies to your investment. Low-density regions are defined as territorial units (NUTS III) and have less than 100 inhabitants per square km or a per capita GDP of less than 75 percent of the national average.

Click here to email us to get the full maps of Interior/Non-Interior regions as well as Low density/High density regions.

What are the benefits of the Golden Visa?

• Ability to live and work in an EU country,
• Free movement, without the need of a Visa to travel in Europe (Shengen area),
• Possibility to attain permanent residency after five years.
• Fast track to Portuguese citizenship after 6 years
• Possibility to extend residency and all other advantages to family members
• It has extremely low minimum stay periods (7 and 14 days per year) compared to other residency / citizenship programmes

What Are the Limitations?

There are some limitations to Portugal's Golden Visa program that applicants should be aware of before applying. First and foremost, not all types of properties are eligible for the golden visa program. Additionally, investors cannot sell their property for at least 5 years after receiving their golden visa. Lastly, there is a maximum number of 200 golden visas that can be issued per year per project - meaning that if more than 200 people invest in a single project (e.g., a new building), only the first 200 will receive golden visas.

Which type of real estate product should you invest in?

Though there are cheap golden visa products in Portugal, our clients have so far preferred investing at least €500k or more into a safe investment with good long term returns. These high-quality products are located in non-interior, high density costal areas (Algarve, Lisbon, Porto) but could still be accessible though direct investment (via exceptions or properly registered rentals) or through an investment in a real estate fund. 

At Elyseeum, we are always on the lookout for high-quality golden visas gems that offer safe investments and long term returns. If you're interested, we can help find those! Please click on this link to email us so we can organize a meeting. 

FAQs

If you're still wondering whether Portugal's Golden Visa program is right for you, take a look at our FAQs below:

Q: Can my family members be included in the golden visa residency permit? 

A: Yes, the Golden visa permit extends to your family (children, spouse and dependent family members). The family members will also be eligible for Permanent Residency after 5 years and citizenship after 6 years.

Q: What is the validity of the Portugal Golden Visa ?

A: The Portugal Golden Visa will be valid for an initial period of 1 (one) year and then will be renewed for subsequent periods of 2 years.

Q: Do I need to speak Portuguese to apply for a golden visa?

A: No - you do not need to speak Portuguese to apply for a golden visa. However, it will make your life easier if you do since Portugal is a predominantly Portuguese-speaking country.

Q: How long does it take to get approved for a golden visa?

A : The application process generally takes between 2-3 months. However, please note that processing times may vary depending on the type of application and current workload .

Q: How to apply to permanent residency?

A: After you have maintained your investment for five years, you can apply for permanent residency. If you have a permanent residence permit, you can live and work in Portugal indefinitely (is valid for five years but you can keep renewing it indefinitely) and travel to other countries in the EU without a visa. There are no language requirements to get permanent residency, as opposed to citizenship.

If you're looking for an opportunity to live in Europe via an investor residency program, Portugal's Golden Visa program is definitely worth considering . With relatively low investment amounts , flexible eligibility criteria , and plenty of perks , the Portuguese government has made it easy for foreign investors to obtain residency status in the country. Plus, with its sunny weather, Mediterranean lifestyle, and stunning coastal towns, it's no wonder that Portugal has become one of the most popular destinations for residency by investment programs in recent years.

So what are you waiting for ? If you're ready to start living the good life in Portugal , don't hesitate to apply for a Golden Visa today !