Portugal Golden Visa Process
Why Choose Portugal?
The Portugal Golden Visa program has proven to be the most popular scheme in Europe with investors attracted to its flexibility and benefits. Launched in 2012 the investor visa program has been actively promoted internationally attracting over one thousand main applicants each year. An investment of €500,000 (€280,000 or €350,000 reduced option) in real estate in Portugal will gain a residency permit for a family including dependent children. The golden visa can be renewed every two years providing the applicant spends two weeks in the country every two years.
Permanent Residency and Citizenship
One of the most attractive options of the Portuguese Golden Visa is the ability to apply for permanent residency or citizenship after five years without the need to reside in Portugal full time. The applicant and their family need only visit for two weeks every two years in order to renew the Portuguese Golden Visa through this period.
The Portuguese residency card granted through the golden visa programme allows the holder to travel throughout the EU Schengen zone. Citizenship of Portugal and a second passport conveys the right to live, work and study anywhere in the European Union.
The property market in Portugal like many southern European countries suffered with the credit crisis in 2010-2012 and prices in 2015 were still typically 20% – 30% below their 2007 peak. Since then the market has recovered strongly with average price rises of 7.5% a year through to 2020. In 2021 prices grew a further 11.6%. Despite the rise in property values, Lisbon remains one of the most affordable cities in western Europe in which to buy real estate. Outside the capital, where many Golden Visa projects are now being built, property is even more affordable.
REDUCED €280,000 AND €350,000 INVESTMENT OPTION.
The most common option since the rule changes is to apply for the golden visa through a reduced investment of €280,000 and €350,000 into real estate requiring renovation. Such projects have to meet geographic location and development rules in order to qualify. It is critical to ensure the right project and legal advice is obtained before embarking on such investment.