Golden Visa for Portugal: The Gold Visa for Investors

Golden Visa for Portugal: The Gold Visa for Investors

Golden Visa for Portugal: The Gold Visa for Investors
Golden Visa for Portugal: The Gold Visa for Investors

The Golden Visa Portugal is considered one of the most attractive ways to live in Europe. Many Brazilians have already benefited from the opportunity to reside in Portugal, and even acquire Portuguese nationality, from the Golden Visa.

Any national from outside the European Union can apply for the Golden Visa, choosing one of the possible types of investment, such as real estate. But there are other possibilities, referring to business investments, in capital funds and even in cultural and scientific activities, as we will see in this article. Checkout this article Rental Price in Portugal: Value of the Main Cities in 2022.

Thus, through the Gold Portugal Visa, the interested party may request the Residence Permit for Investment Activity in the country. But, some rules may change soon.

Understand how it works and how to participate in the program, to obtain a Residence Permit for Investment in Portugal. We tell you everything you need to know here. You might be interested in article Portuguese Nationality in the Purchase of Real Estate, Is It Possible?

What is the Gold Portugal Visa?

The Golden Visa Portugal (or Golden Visa) was created in 2012 with the aim of attracting resources and investors to the country. This occurs through the granting of a special Residence Permit for foreigners from outside the European Union who have invested in Portugal.

The investor will be able to enjoy some privileges, such as entering the country without a Residence Visa. Thus, a special Residence Permit can be requested directly in Portugal.

Through the Gold Portugal Visa, many Brazilians can we guaranteed the right to legally live in the country, if they make any of the planned investments. And there are numerous advantages, as you will see throughout the text.

How Does the Golden Visa Portugal Work?

The Golden Visa Portugal program consists of the ease of regularization of those who invest in the country. In fact, this system allows the Brazilian investor to arrive in Portugal without a visa, carry out the investment and apply for the respective Residence Permit.

To obtain it, third-country nationals need to make one of the types of investments provided for in Portuguese law. The Golden Visa Portugal program provides for the possibility of purchasing real estate or transferring capital, for example, among others.

Depending on the type of investment, the procedure will occur in a certain way. But it is always relevant that the required financial resources are available in Portugal.

In addition, the holder may even maintain residence in another country, because the time required to stay in Portugal is short. And, after 5 years, they will be the possibility of acquiring Portuguese citizenship.

Golden Visa Through Real Estate Investment

The most popular type of investment was real estate. In fact, this modality means that someone who buys one or more properties in Portugal can guarantee their Gold Visa.

However, it is necessary to respect the rules and the minimum investment amount, which is at least 500 thousand euros. The good news is that this amount doesn't have to be all spent on a single property. However, properties in the city of Porto, Lisbon and on the Portuguese coast are no longer valid, except for the Azores and Madeira.

Thus, you can buy several properties that add up to this amount, guaranteeing your Golden Visa for Portugal. This ends up being a good investment opportunity, not least because the properties can be later rented, for example.

But, real estate investing is not possible just that way. The legislation also allows investment of at least 350 thousand Euros in properties to be rehabilitated.

Is it Possible to Finance the Property for the Golden Visa?

A frequent question is whether the purchase of the property, to obtain the Golden Visa, can be through bank financing. The answer is that the minimum amount cannot, but nothing prevents financing the surplus.

The important thing is that the minimum real estate investment is carried out. However, if the value of the property exceeds what is minimally required, part of the value can be paid off through financing.

In addition, many people think that buying a property would be the only way to guarantee the so-called Golden Visa. However, there are other types of investment that allow you to obtain the Golden Visa Portugal.

There are even types of investment that require the mobilization of a smaller amount of money, as we will see below.

What are all Types of Investment?

Below we will list the investment modalities that can guarantee the Gold Portugal Visa:

Capital transfer in the minimum amount of 1,500,000 euros;

Creation of at least 10 jobs;

Acquisition of real estate with a value equal to or greater than 500,000 euros (except in Porto, Lisbon and the coast);

Acquisition of real estate to be rehabilitated (over 30 years old or located in urban rehabilitation areas) in the minimum amount of 350,000 euros;

Minimum investment of 500,000 euros in scientific research activities;

Investment of at least 250,000 euros in artistic production, restoration or maintenance of cultural heritage;

Transfer of at least 500,000 euros to investment funds or capital funds;

Transfer of 50,000 euros to set up a commercial company, with the creation of 5 jobs, or for investment in an already company, with the creation of maintenance of at least five jobs, for a minimum period of 3 years old.

Important: from 2022 the rules have changed. Check out all the changes in the article below.

What is the Most Advisable Type of Investment?

Of course this depends on the particular circumstances. But, let's not forget that there are more forms of real estate investing that can be worthwhile.

Usually, people only consider the possibility of buying a property, or more than one, spending at least 500 thousand euros. But in Portugal there are many buildings over 30 years old that need to be rehabilitated.

If the interested party acquires a property in these parameters, the necessary investment drops to 350 thousand euros. Of course, there would be expenses with the renovation of the property, but the deal can be very worthwhile.

What are the Conditions for the Golden Visa Holder

In addition to carrying out one of the investment modalities listed above, the interested party must comply with certain rules.

There will be an obligation to stay in Portugal for a period of not less than 7 days in the first year. In subsequent years, the period cannot be less than 14 days.

In addition, it is necessary to maintain the qualified investment for a minimum period of 5 years.

But, there are many advantages, including the possibility to take the family, to move freely through the Schengen Area and then acquire Portuguese nationality.

And, the minimum required period of stay in Portugal is very short. This means that you will be able to invest in the country and live in Brazil, while the time to acquire a European nationality is being counted.

Who can Apply for the Golden Visa?

The Golden Visa Portugal is design for investors and entrepreneurs. It is the Visa and Residence Permit that requires some prior investment.

In this way, third-country nationals who carry out and investment activity in Portugal can apply for the Golden Visa and their respective residence permit. This investment can be carried out in person or through a limited liability company.

Furthermore, as we have seen, at least one of the types of investment envisaged must be carried out for a minimum period of 5 years.

It is worth noting that the person concerned cannot have a criminal record.

Can the Family accompany the Golden Visa Holder?

The big advantage is the possibility to include and take the family, In this way, from the holder of the Golden Visa, other family members will have the right to legally reside in Portugal.

Undoubtedly, this is a great advantage. Family members can either apply for the D6 Family Reunification Visa, or apply for a Residence Permit for this purpose directly in Portugal.

Who is Considered a Family Member?

This is an important issue, because not every relative can benefit from family reunification. Normally, this right extends to the spouse, partner, children and minors who are under the custody or guardianship, or ascendants who are dependents.

Good news is the recognition that h*** se*ual couples and members of the L*BT + community have for requesting family reunification in Portugal.

How to Apply for the Golden Visa Portugal/Residence Authorization for investment (ARI)

The request for the granting of the Gold/ARI Visa must be made online on the website of the Foreigners and Borders Service, access here. If you prefer, the applicant may be represented by a lawyer.

In this case, the request can be made by the legal representative, by accessing the link. This representative must have a Forensic Power of Attorney, and, after registration, present it to the SEF.

The request must be formalized by the applicant, upon presentation of a declaration. In this, under an oath of honor, it must attest to the fulfillment of the minimum quantitative and temporal requirement of the investment activity.

This declaration and all necessary documentation of presented at the time of application for the granting of a Residence Permit and/or its renewal.

The presentation is carried out in person at the competent regional directorate of the SEF. The decision to grant the Gold/ARI Visa is the responsibility of the National Director of the SEF, upon proposal of the Regional Director of the same body.

The scheduling of the date and time for delivery of the ARI request at the SEF's place of service is carried out through its own portal, by means of pre-registration.

Documents Required for the Order

First, it will be essential to prove that the necessary investment has been made. In addition, you must present the following documents:

Valid passport;

3x4 photos;

Criminal Record Certificate from the country of origin;

Permission for the SEF to consult the criminal record in Portugal.

Finally, the application fee must be paid, the amount depending on the circumstances.

Remember that documents issued in Brazil will need to be apostilled. And, if there is a presentation of a document written in another language, it must also we translated.

How Much of the Gold Visa Fees Cost?

The fees due for the application to the analyzed, and, if granted, for the obligation of the Residence Certificate, are as follows:

Reception and analysis of the application for granting or renewing a residence permit for the investment activity, under the terms of article 90-A of Law no. 23/2007, of 4 July - €532.70;

For the grant of the first residence permit for the investment activity, under the terms of article 90-A of Law no. 23/2007, of 4 July € 5324.60;

Renewal of the residence permit for the investment activity, pursuant to article 90-A of Law no. 23/2007, of the 4 July - € 2662.30;

For the first Residence Permit for family members reunited with holders of a residence permit for the investment activity, pursuant to article 90-A of Law no. 23/2007, of 4 July - € 5324.60;

For the renewal of the residence permit for family members reunited with holders of a residence permit for investment activity, pursuant to article 90-A of Law no. 23/2007, of 4 July - € 2662.30.

How to Obtain the NIF (Tax Identification Number)?

A necessary procedure for the investment activity itself will be the prior preparation of the NIF. This is the Tax Identification Number, also known as the Taxpayer Number (equivalent to the CPF in Brazil).

Such registration will be necessary in several situations in Portugal, such as to open a bank account, buy property or carry out other commercial and financial operations. The documents that must be presented to obtain your NIF are:
  • Passport;
  • Birth certificate (in the case of a foreign child);
  • Proof of residence in the country of origin;
  • Proof of enrollment (in the case of students);
People who do not reside in Portugal or who do not yet have proof of residence and wish to apply for the NIF must appoint a tax representative residing in Portuguese national territory (temporary residence holders cannot be tax representatives).

From the NIF request, the citizen residing or not in Portugal will be registered in the database of the Portuguese Tax Administration. This document is so important that even your correspondence will be linked to it.

How Does Investor Taxation Work?

Depending on the circumstances, investors and Golden Visa holders may benefit from a privileged taxation system. This tax regime offers advantages for those who wish to live in Portugal, but have income outside the country.

This occurs through the so-called Non-Habitual Resident Tax Regime. To apply for registration in this tax system, it is necessary to fill certain requirements, such as:
  • To be considered, for tax purposes, as a resident in Portuguese territory in the year in which you wish to start taxation as a non-habitual resident;
  • Has not been considered a resident in Portuguese territory in any of the 5 years preceding the year in which he intends to start taxation as a non-habitual resident;
  • Be part of the professional categories listed.

The advantages that this scheme offers vary according to the type of income. For example, income from one of the professional activities will be taxed at source at the maximum rate of 20%.

In addition, to this advantage, another very beneficial one for those who are going to live in Portugal is to avoid double taxation. The non-habitual resident will not be double taxed on income earned in other countries.

So, if you already pay tax related to the provision of service in Brazil, there will be no taxation in Portugal.

The special regime is valid for 10 years. It is worth remembering that the application for registration must be made by March 31st of the Year following that of the beginning of the residence in Portugal.

What are the Benefits of the Golden Visa?

The holder of an investment Residence Permit (Golden Visa) has excellent benefits. We can cite the following;
  • Possibility of entering Portuguese territory without a residence visa;
  • Circulate freely in the Schengen Area, made up of 26 European countries, visa-free.
  • Live, study and work in Portugal;
  • Reduced minimum stay requirement, as the applicant will have to stay only seven days a year in Portugal.
  • Benefit from family reunification, including the spouse; minor children; dependent adult unmarried children; 1st degree ascendants of the applicant or dependent spouse; and minor siblings who are under the guardianship of the candidate/resident;
  • Become eligible for permanent residency after 5 years of temporary residency, complying with the legal requirements currently in force;
  • Become eligible for Portuguese Nationality after 5 years of residence, complying with the legal requirements currently in force Lisbon.

Advantages of Living and Working in Portugal

The strong ties with Portuguese-speaking countries, as well as its unique geostrategic position, make Portugal an open door to Europe.

Furthermore, it is worth noting that Portugal has a high level of safety and quality of life, considered the 3rd safest country in the world.

Residents and their families enjoy an enviable standard of living, with safe urban centers. In addition, Portugal has an education system with some universities ranked among the 50 best in the world.

In the last three decades, Portugal has invested heavily in the modernization of its transport infrastructure: the result is an extensive network of accesses at land, air and sea level. The country's main cities have large ports and are very well connected to the motorway network and the respective airports.

In the real estate market, there are many possibilities for investors across the country. The scenario is heated because Portugal is today also one of the main destinations for World tourism. Its cities are increasingly adapted to receive tourists and new residents.

It is, in fact, an excellent opportunity to make medium and long-term investments, advantageous for the whole family. And, the fact that Portugal is a member country of the European Union, allows access to an entire international market.

All these factors undoubtly make the Visa Gold Portugal program even more attractive and advantageous.

Conclusion about the Golden Visa Portugal

As we have seen, the Golden Visa refers to the granting of residence to non-EU foreigners who invest in Portugal.

They can enjoy numerous advantages, including family reunification and free movement within the Schengen Area (26 European countries). In addition, we cannot fail to mention the possibility of obtaining a permanent residence in Portugal and even acquiring Portuguese Nationality.

Furthermore,this time necessarily occurs without spending a lot of time in Portugal, even though the Golden Visa guarantees the possibility of residing and working in the country.

However, the process of carrying out the investment, as well as formalizing the application for residency before the SEF complex and requires rigorous analysis by this body. Often, the request is denied for not meeting basic requirements.

Therefore, it is always important that the Gold Portugal Visa applicant has the proper professional support. But, in addition to the qualification, the professional must have a deep knowledge of this type of process, to avoid frustrations and losses.

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