Portugal is one of the oldest nations in Europe, with a colorful and rich culture and exceptional living conditions. When it comes to Portugal, the nation comes at three on the list of the top 10 safest countries to live in the world. This alone shows why working, living, or even retiring in this beautiful country is a dream for many. If you are one of them, here is a chance to make your dream come true. How? With the Portugal Golden Visa program.
Portugal Golden Visa Program, started in 2012, is a residency-by-investment program that exists to encourage global investors to invest in Portugal. It’s the quickest way to get a visa to work, live, and travel in Portugal. It also provides you a chance to become a citizen within 5 years.
It sounds like a perfect opportunity, and you must have questions. Read the FAQs below to get all your questions answered.
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What exactly is the Golden Visa in Portugal?
It is a scheme started by the Portuguese government in 2012, granting residency to global citizens through an investment program. In short, you must invest to have permission to live, work, and travel here. It also allows you to travel restriction free in Portugal and a few neighboring countries. After five years, you are also eligible for citizenship.
- What benefits does Portugal’s Golden Visa Program provide?
The benefits of the Portugal Golden Visa Program include:
- No requirement for obtaining a visa to enter Portugal.
- No visa requirement for traveling to Europe (Schengen area)
- Permanent residency and citizenship are possible after five years
- Option to live and work in Portugal with a different country’s residency
- Does the Golden visa program in Portugal allow the investor to take their spouse or other family members?
Yes, it does allow the investor to bring their spouse, dependent children, and parents with only a single visa investment. You can even bring your grandparents.
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- Who is considered a family member in this program?
According to the golden visa program, your family includes:
- The spouse
- Minors who are under the guardianship of both or one of the partners.
- Minors adopted by the application (married or unmarried)
- Children under the charge of the couple attending a school/college.
- Should I hire a lawyer when applying to Portugal’s Golden Visa Program?
As an individual, you can apply for the visa yourself. But it is recommended to hire a lawyer for legal advice as you will be investing a massive amount. Also, work with professionals who
know the rules and regulations and the entire process of applying for and getting a visa. It will help you navigate the whole process smoothly.
- Do I need a personal bank account, tax number, and more for this in Portugal?
Yes, you do! An expert can help you open the same with an easy process.
- Will I have to pay fees or taxes for investing in a property in Portugal?
Yes, you will have to pay a few taxes in Portugal. These are related to properties like IMI, IS, and IMT. In addition, you will be paying the real estate registration and notary fees.
- Should I learn the Portuguese language for this program?
To apply for the program, knowing the language is not necessary. However, it is always best to know the language of the country you plan to live and work in, even if it’s basic. Moreover, when you apply for citizenship, at that time, knowing the language is crucial for passing the basic A2 level exam.
- How long will the decision regarding the residence permit take?
After you fill out all the applications for the golden visa program and submit the documents, the decision will take around 90 days or less. However, if you require residence permit cards in your home country, you will have to wait 150 days as it comes by courier.
- Can spouses without marriage certificates apply?
Yes, they can, but they must show proof of their union while applying.
Hopefully, these FAQs have answered all your questions about the Portugal Golden Visa Program. So, use these to get started now.