Portuguese Golden Visa changes came into effect on 1 January 2022. The most common investment type is real estate acquisition. Stay requirement Anyone who applies for the Golden Visa must spend a minimum of 7 days in the country in the first year, and 14 days in the subsequent years. Portugal Extends Golden Visa Program in Lisbon & Porto Until January 2022 The Portuguese Government announced on 16 February 2023 that it would end its golden visa program. This guide covers all the basics about how Golden Visas work, the application process and costs perfect if youre just starting your research into how best to make your dream of a new life in Portugal come true. These can be issued 45 days before your online application. To get a Golden Visa for Portugal, you have to make one of the following investments: . This cookie is set by GDPR Cookie Consent plugin. Criminal record certificate for each applicant who is over 16 years old, issued by the country in which the applicant has most recently resided for a minimum of a year. Changes to the Golden Visa Program in Portugal in 2022. Portugal Golden Visa Changes 2022 Now Effective While we do not have a point of sale directly set up on our website, payment with crypto, including Bitcoin, Ethereum, and Ripple, can be arranged by contacting us. The Golden Visa program was launched in 2012, and had a specific aim of pulling foreign investment into the country following the economic crisis. As such, we recommend adding a margin to the invested capital that covers the incremental financing. This cookie is set by GDPR Cookie Consent plugin. You must also spend a minimum of seven days in Portugal for the first year, then no less than 14 days each subsequent two-year period (this is called the stay requirement). The Golden Visa in Portugal has been around since 2012 and was created as a way of enabling non-EU citizens the right to gain a residency permit in exchange for a 6-year real estate investment. Many investors have taken cases relating to delays in obtaining a Golden Visa to court to speed up the process, with reports stating that, to date, SEF has lost 18 cases. To invest in the Portugal investment fund Golden Visa, you must contribute at least 500,000. Compare our Spain vs Portugal Golden Visa Programs. Also, the documents must be submitted by Golden Visa applicants for the initial application and each renewal. Once the Golden Visa application is analyzed by SEF and receives the go-ahead, SEF then indicates the dates available to schedule the appointment. Below, you can see the latest update from 25 May. By continuing to use this website you consent to our use of cookies as described in our, Thank you for your service, Queen Elizabeth II, Algarve elected World's Leading Beach Destination in 2021, Best Places to Stay & Visit in the Algarve, Portugal Golden Visa Statement from CEO, David Poston, Portugal Homes wins at the European Property Awards, Employee Talks with Maria Alves | Administrative Support, Portugal Homes accredited by Luxury Lifestyle Awards. The announcement comes after the authorities in Portugal, in December last year, had sought to ban investments in both cities and the . Real Estate Acquisition. You must fit at least one of the following categories to claim Portuguese residency by investment: Portugals investor visa covers shareholders of companies already set up in Portugal or in another EU state with a stable residence in Portugal and tax obligations fulfilled. Portugal Golden Visa Ending - What Do We Know So Far Portugal maintains the Golden Visa Programme, Staying in Schengen Zone: the 90/180-day rule explained, Portugal elected with Best Air Quality in Europe, Tax Updates for Non-Residents in Portugal, Portugal Homes voted the Best Luxury Real Estate Investment Consultancy in Portugal by the Luxury Lifestyle Awards 2022, Longest Train Ride: From Portugal to Singapore. This cookie is set by GDPR Cookie Consent plugin. The remaining payment of 500,000 would need to be made using your own capital. I got all answers about my questions. The cookie is used to store the user consent for the cookies in the category "Analytics". The timeline to citizenship is seven years. These cookies ensure basic functionalities and security features of the website, anonymously. Each renewal . There are many tax benefits to Portugals Golden Visa. The Portuguese business investment can be reduced to generating eight positions if its located in a low-density area. Read about the requirements and benefits of the Golden visa and find digital services to . You can still make real estate investments to qualify for the Portugal Golden Visa. Original documents must be accompanied by a certified translation in Portuguese, which may be done in one of three ways: These are relatively straightforward processes in Portugal and can both be done remotely. For this program, youll normally need to be buying property in an underpopulated area. The idea of Portugals golden visa program is to attract foreign investment and boost the domestic economy. In brief, here are the investment options available for the Portugal Golden Visa: Important notice: The Portugal Golden Visa changes that rolled out on 1 January 2022 have significantly changed the programs investment criteria. GLOBAL CITIZEN SOLUTIONS UNIPESSOAL LIMITADA | NIPC 516027212 AMI 17987 | . This permits the following family members to join the golden visa holder in Portugal: Family members receive the same rights. For all other certificates, it is 180 days. Youre ready to make your eligible investment. Parliamentary agendas are made at the Leaders Conference, a bimonthly meeting where the agenda is set. Parents of either spouse, if over 66 years old (or 55 and dependent), Be either non-EU, non-Swiss, or non-EEA national, Minimum investment of 250,000, with a range of investment routes to choose from, Spend a minimum of seven days in Portugal for the first year, then no less than 14 days for each subsequent two-year period (this is called the stay requirement), Capital gains from the disposal of real estate, Business and self-employment profits derived from eligible occupations (but be mindful of relevant double taxation agreements), Real estate acquisition at a minimum value of 500,000: 9,238 residence permits, Real estate rehabilitation at a minimum value of 350,000: 1,636 residence permits, Capital transfer into a Portuguese bank: 543 residence permits, Capital transfer into an investment Fund: 465 residence permits, Capital transfer and the creation of jobs: 10 residence permits, A donation into cultural heritage in Portugal: 6 residence permits, A donation into research activities in Portugal: 1 residence permit, Copy of a valid passport and travel documents, Deed or contract of the purchased property or signed Promissory Contract with proof of the deposit payment, Declaration from your bank in Portugal confirming the transfer of funds, Proof of health insurance in Portugal (only required if the investor resides in Portugal), Certified copy of the criminal certificate or a police clearance letter from your country of origin, A completed form authorizing SEF to get an extract of your Portuguese criminal records, Declaration from you confirming compliance with the investment requirements. Given that the current proposal is at a very early stage, it is not expected that any schedule will be made at todays conference. Golden Visa Portugal: requirements for a Portuguese golden visa, How to apply for a Portuguese golden visa, Portuguese golden visa scheme for family members, Portuguese golden visa citizenship and permanent residence, Capital transfer of at least 1 million into Portugal, Creation of at least 10 job positions in Portugal, Purchase property in Portugal worth at least 500,000, Acquire real estate in Portuguese urban regeneration areas at least 30 years old to the value of at least 350,000, Investing at least 350,000 in scientific research in Portugal, Investments of 250,000 or more in Portuguese arts, culture, and heritage, Investing at least 500,000 in small- and medium-sized businesses in Portugal, live and work in Portugal, provided they reside in Portugal for a minimum of seven days in the first year of residence and 14 days in each subsequent year, gain visa-free entry to the entire Schengen Area, apply for a family reunion, meaning certain family members can also get Portuguese residency, passport or valid identification document, proof of legal entry into Portugal (e.g., Schengen short-stay visa), proof of health insurance (issued within the last three months), criminal record certificate from country of origin/residence (issued within the last three months), evidence of compliance with tax and social security obligations, receipt of payment of the Portuguese golden visa fees, a bank statement for financial investment, deeds of purchase for real estate investment, Processing fee (application and renewal): 514.80 (plus 80.20 per family member), Initial golden visa for family members: 5,147.80, full-age dependent children who are studying, dependent parents of either the golden visa holder or spouse, minor dependent siblings who are under the guardianship of the golden visa holder. Processing time for a Portuguese golden visa is typically several months. Portugal Golden Visa underwent some major changes on 1st January 2022. Investing in private equity funds or Portuguese Golden Visa venture capital funds is a good option for acquiring residency in Portugal. Whos eligible for a Golden Visa in Portugal? region, which are highly sought-out by all foreign citizens, the Golden Visa Programme is eligible for real estate investments under Commercial and Touristic licensing. Cut the costs of currency exchange with Wise. a marriage certificate for the spouse, birth certificates for the children (plus marital status certificate and proof of enrolment as students if over 18 years old) and birth certificates for the applicants having dependent parents (plus certificates of no income for the latter if under 65). Take a Look at our Portugals NHR Tax Regime: The Complete Guide. 2022 Portugal Golden Visa Moving Forward Since the introduction of the Golden Visa programme in Portugal in 2012, the majority of investment that has come into Portugal has been into main and key areas of the Portuguese territory, such as the capital city of Lisbon, Porto, and some overspilled investments in the Algarve region. Digital nomads flock to Portugal under new visa scheme Starting from 2022, purchasing real estate in Lisbon, Porto, Algarve, Setubal or popular coastal areas, will not qualify you for a Golden Visa. Portugal Golden Visa: The Ultimate Guide - Nomad Capitalist You may not like the new rules, but at least now they are official. Portugal Golden Visa Real Estate Options 2023 - The Golden Portugal Make an eligible investment in Portugal under the Portugal Golden Visa program, with funds from outside of Portugal. The Golden Visa is an indirect route to citizenship. The minimum required value to be eligible for this visa is a yearly income of 8,460, plus 50 percent of this amount for the spouse and 30 percent for each dependent child. The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. - Advertisement -. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date. Prior results do not guarantee a similar outcome. We are happy to assist you every step of the way. For new clients that are considering applying for the Portugal Golden Visa, this new development with the introduction of the online portal is a positive development. Portugal Golden Visa Changes 2022. . In the . Portugal Golden Visa Changes in 2022 | Get Golden Visa Portugal Golden Visa 2022 (Requirements, Types of Investments, Changes) Oct 08, 2021 comments off. The following Golden Visa Portugal documents required can change at the discretion of the Portuguese government. The NIF is your tax identification number, distributed by the Portuguese fiscal authorities (Finanas), used for tax purposes that are needed to carry out various transactions, including opening a Portuguese bank account and buying property. Investors that hold Golden Visa residency permits that are already expired or are due to expire before 31 March 2023 can use the online portal. They are also eligible for permanent residence after five years and Portuguese citizenship after six. Portugal Golden Visa 2022 (Requirements, Types of Investments, Changes Related article: Golden Visa Portugal: 7 Reasons to Invest in a Fund. The introduction of the new online portal will allow Golden Visa holders to renew their residency permits online. SEF has resume their portal for online application submission! Here the minimum investment amount starts at 690,000 and offers citizenship for between . Tweet on Twitter Share on Facebook Pinterest. To be a tax resident youll usually need to be in Portugal for more than half the year. Investors from EU/EEA countries or Switzerland dont require a golden visa but must register their stay. The investment program is one of the most popular of its kind, with investors from across the world seeking residency through the scheme. The Golden visa is a long-term residence visa which enables foreign talents to live, work or study in the UAE while enjoying exclusive benefits. In January 2023, article 207. of the Portuguese State Budget for 2023 (Law number 24-D/2023) stated that there would be a simplified procedure for processing requests for renewals of residence permits for investment, including Golden Visas, whereby visas and documents related to staying in the Portugal territory can be renewed online on the SEF website. The Golden Visa in Portugal is a program that awards investors with residence permits in Portugal, provided that a qualifying investment is made in the country. This investment has to be placed in appropriate investment options that are stipulated by the Cypriot government. Portugal Golden Visa 2022 Portugal Golden Visas: Eligible Low-Density and Interior Areas **Notice: The Portugal Golden Visa Program has experienced substantial modifications this year, which has resulted in the revocation or partial modification of several property investment possibilities. Over 92 percent of applicants seek this investment route. This is a fantastic option as itll allow you to directly benefit from Portugals Non-Habitual Tax (NHR) Regime. Along with the Portuguese golden visa application, you will need to submit the following documents: In addition to this, applicants need to show a commitment to maintaining their investment for a minimum of five years. for living by the ocean and travelling. Was the Golden Visa suspended in Portugal? Portugal Golden Visa Programme 2022 - High & Low Density Regions Portugal Golden Visa at a glance - a complete summary - benefits, requirements, documents needed, family member reunification, investment options, application procedures and timeline. Immediately afterward, the bill will pass through a Parliament discussion, and the specific wording will be approved or rejected. Theres no need for the investment amount to be spent on only one home, you can buy as many properties as you like as long as you meet the minimum investment requirement. To date, Golden Visa renewals had to be done via an in-person appointment at SEF. If youre working through an agent or lawyer, theyll support this stage and ensure you have everything required for your application to be processed. Dubai Welcomes NFTs: New NFT License Available. Portugal Golden Visa Real Estate Investment - What Changed After 2022? The Golden Visa grants qualifying investors and their family members the right to live, work and study in Portugal and permits free movement in the European Union and Europes Schengen Area.