Find below answers to the most common questions about residency by investment in Portugal through the golden visa portugal program.
Portugal Golden Visa FAQs
How long does it take to process a Portugal Golden Visa?
The waiting time for Portugal Golden Visa application is subject to change and largely depends on the overall wait period at The Agency for Integration, Migration and Asylum (AIMA). Currently, it takes upwards of one year or more to obtain your Golden Visa permit once you have made your investment.
What are the steps for renewing a Portugal Golden Visa?
The Portugal Golden Visa can be renewed every two years. Applicants must ensure that their investment is maintained and provide proof of the required minimum stay in Portugal, among other documentation requested by SEF.
What is a fiscal number (NIF) in Portugal?
A fiscal number in Portugal is called a NIF. You’ll need a NIF in order to perform any official transaction in Portugal. This includes opening a Portuguese bank account, purchasing real estate, etc.
If I have a Golden Visa, do I need to reside in Portugal or can I live in other countries?
Portugal doesn’t require you to live in the country full time if you have a Golden Visa. You merely need to stay in Portugal for at least seven days per year in Portugal. Besides that, you may live in your country of origin or any other place you wish to live in.
Does Portugal allow dual citizenship?
Yes, Portugal allows for dual citizenship.
What are the reasons for Golden Visa refusal?
The most common reasons for Golden Visa refusal are:
- Criminal record in the past
- Threat to the safety, health, and security of the EU
- Ban in Schengen information System (SIS)
- Frozen property assets in EU
Portuguese Citizenship & Family
How long does it take before I can apply for Portuguese citizenship and passport?
You are eligible to apply for citizenship in Portugal once five years pass from the day you submit your initial golden visa portugal application.
What are the rules to obtain the citizenship?
Applicants must hold their investment for a minimum of five years and fulfill the physical presence requirements. They can then apply for citizenship, subject to meeting other legal conditions.
Can I include my family in the Portugal Golden Visa?
Yes, spouse and dependents can apply and qualify for the Portugal Golden Visa. However, there is a set of requirements to meet and fees for each person to submit their application and receive residence permit.
Investment Options & Benefits
What benefits are offered by the Portugal Golden Visa program?
Holders of the Portugal Golden Visa benefit from the right to live in Portugal, access to Schengen area countries without the need for additional visas, and eligibility for Portuguese citizenship after five years, conditional on meeting certain requirements including maintaining the investment and staying in Portugal for an average of 7 days per year.
What are the new investment types for a Portugal Golden Visa?
- Investing in Qualifying Funds: Minimum investment of €500,000 in specific Venture Capital or Private Equity funds within Portugal.
- Job Creation & Company Capital: Invest €500,000 in a Portuguese company and create at least 5 new jobs.
- Financial Contribution: Donate €250,000 towards cultural heritage preservation or €500,000 to public or private scientific research institutions.
- Real estate investment and capital transfer options are no longer available.
What happens to the investment after five years?
- At that point, you have three options as a Golden Visa holder: (1) to continue with the Golden Visa for Portugal, (2) to become a permanent resident, (3) to become a Portuguese citizen.
- If you choose to become a permanent resident or a Portuguese citizen, you can then sell or liquidate your investment as you wish. You only need to hold on to it if you decide to continue with the Golden Visa temporary residence program instead.
Do I have to pay taxes in Portugal?
Portugal Golden Visa Program will not bring any tax responsibility to you unless you spend more than 183 days of the year in Portugal. In case you do, then you become a tax resident in Portugal. The country offers a competitive tax system to those who are tax residents in Portugal.
Investment Funds
Can I invest in more than one Golden Visa fund?
Yes, it’s possible to split your investment into several funds. The main benefit is broader diversification, and the downside is more paperwork and potentially a bit higher fees (as some fees may be fixed, not a percentage of the invested amount).
Is it possible to use a company to invest in a Portuguese Golden Visa fund?
Yes, but only if it’s a single-member limited company registered in Portugal (Sociedade Unipessoal por Quotas). It can’t be a foreign company, and it can’t have more than one owner.
How did the Portuguese Golden Visa changes in 2023 affect the investment fund option?
Since October 2023, any fund directly or indirectly investing in real estate no longer qualifies for a Golden Visa. If a fund has any real estate exposure (due to needing it for its non-real estate-related operations), ensure its strategy aligns with the new regulations.
What are the Portuguese Golden Visa investment funds’ fees?
Typically, there are fees involved with all three steps: setup, management, and investment exit. However, a few funds have 0% for one of these fees, which could sometimes mean that the others are relatively higher. So, it’s always important to consider the combination of all three. Sources
- [https://imigrante.sef.pt/en/] (SEF – Portuguese Immigration Authority)
- [https://www.portaldasfinancas.gov.pt/pt/menu.action?pai=27] (Portuguese Tax Authority)
- [https://portaldascomunidades.mne.gov.pt/pt/] (Portuguese Ministry of Foreign Affairs)