Individuals from non-EU and non-EEA countries who are interested in relocating to Portugal and make investments in this country can buy a golden visa in Portugal under certain conditions. A golden visa program comes with a series of benefits for the investor and his/her family. One should know that there are several requirements for obtaining such status and these can be entirely explained from a legal point of view by our team of lawyers in Portugal.
If you are interested in moving to Lisbon after applying for golden visa passports, our specialists can help you purchase a property here. We can also assist those who want to buy a golden visa in other European countries offering similar immigration conditions.
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Who can apply for a golden visa in Portugal?
The Golden Visa Scheme was created to support foreign citizens of high net worth from non-EU and non-EEA countries who want to move to Portugal. In other European countries, there are also other types of visas too for foreign investors, such as in Italy where the entrepreneurial permit enables non-EU individuals to set up small businesses and obtain residency.
The program is meant to increase the economy of the country and since its launch, it has grown in popularity and has attracted many investors from countries outside the European Union who chose Lisbon as their city of residence after applying for the golden visa/citizenship by investment program.
When seeking to obtain a golden visa in Portugal, there are various conditions to respect. It is also important to note that ever since its creation, the scheme has suffered certain changes which is why for those willing to move to Portugal and obtain residency or citizenship by investment we can provide tailored immigration services.
You can read about the Golden Visa Scheme in Portugal in the infographic below:
What are the conditions for getting the golden visa in Portugal in 2023?
Entrepreneurs wanting to move to Portugal through the golden visa programme which entered into force in 2012 should observe the conditions that involve the necessary investments plus other requirements:
- an investment of at least EUR 500,000 in the real estate sector in Portugal is mandatory;
- a golden visa in Portugal needs to be renewed every two years;
- the investments in Portugal need to be maintained for at least 5 years;
- even joint investments are permitted for obtaining golden passports.
The real estate investment in Portugal involves whether property rental or property acquisition, as long as it respects the condition involving the minimum capital investment of EUR 500,000. We remind that having a clear criminal record is among the mandatory conditions for applying for a golden visa in Portugal. If you are an investor from abroad who wants to buy a golden visa in Portugal in 2023, we suggest you address your questions to our team of advisors.
The new requirements for obtaining a golden visa in Portugal
For those willing to move to Lisbon in order to obtain a golden visa, the following new conditions of the scheme must be observed:
- the applicant is now required to have obtained a Schengen visa prior to enrolling the golden visa scheme in Portugal;
- a lower real estate investment of 350,000 euros can be selected if the property purchased is located in designated areas by the government;
- another capital investment has also been added to the program, thus offering more options to investors;
- research and development are also activities that can be completed under the new Golden Visa Scheme in Portugal;
- another new investment option is represented by cultural projects in which applicants can inject money.
For those seeking to move to Lisbon when applying for a golden visa/citizenship by investment in 2023 by real estate purchase, the minimum value of the property remains 500,000 euros. If you are interested in golden visa countries, our golden visa specialists can help you with various tips on how to choose a property in the capital city of this country.
Minimum investment requisites for a golden visa for Portugal
As mentioned earlier, applicants have several options when it comes to the investments they can make in Portugal for obtaining residency or citizenship through the golden visa. Based on their choice the amount of money will differ, as it follows:
- the lowest amount to be invested now is 280,000 euros in art or other cultural projects;
- for real estate investment which is one of the most popular options, the value of the property ranges between 350,000 and 500,000 euros;
- 350,000 euros is also the minimum amount for research and development activities;
- 500,000 euros is the amount of money required for buying various financial assets;
- 1,000,000 euros can be deposited in a Portuguese bank account and used as a passive investment.
The decision on the amount to be invested and the advantages of each option can be explained by our golden visa agents in Lisbon.
In most cases, applicants decide for real estate purchases as they want to move to Portugal permanently and bring their families with them.
If you are interested in golden visa countries, our services are available in other sunny states like Italy, Malta, and Spain.
The benefits of golden visas in Portugal in 2023
The residence permit is issued for one year and then renewed for 2 years, including for family members who can relocate to Portugal at the same time with the investor who obtained the golden visa. Just like other citizenship by investment countries such as Spain, Italy or Malta, the golden visa for Portugal allows investors to travel without restrictions within the Schengen Area with a valid passport and a visa in this matter.
Compared to other countries, obtaining a golden visa in Portugal does not require to live here unless the applicant wants to. Once the visa has been obtained, the holder only needs to visit the country for renewal. This condition applies when seeking to obtain both residency and citizenship by investment.
Our agents can help foreign citizens who want to move to Europe in other citizenship by investment countries.
Bring family members to Portugal
You can bring your family members to this country under a Portuguese Golden Visa if you are the primary applicant. Both the primary applicant and the dependents go through the application process simultaneously.
Along with the primary applicant, the following family members may also apply:
- those under the age of 18, dependents under the age of 26, as long as they are enrolled in school full-time and are not married,
- parents of the primary applicant, if they are older than 65.
After 5 years of holding a Golden Visa in Portugal, you may seek for citizenship.
Why move to Lisbon under the Golden Visa Scheme?
One of the most desired cities to move to in Portugal is Lisbon, especially when it comes to high net worth individuals moving here under the Golden Visa Program. Thanks to the rich culture, applicants for golden visas will have plenty of investment options in terms of business, real estate but also projects in which the minimum amount of money required can be injected.
From a real estate point of view, house prices have slightly decreased in Portugal in the last quarter of 2019 compared to other EU countries, according to a report issued by the National Statistics Institute. The decrease was 1.69% in the last quarter of last year compared to 2.21% in the first quarter.
In 2023, Portugal’s golden visa program brings several benefits, among which the fact that residence by investment can lead to citizenship after 5 years. The main requirement is for the applicant o live here for 35 days during the 5 years they benefitted from the residence by investment visa.
If you have any questions on the 2023 Golden Visa Scheme in Portugal, our specialists can answer them.
If you would like to buy a golden visa in Portugal, we invite you to contact our team of lawyers in Portugal at any time. If you are interested in obtaining a golden visa in Lisbon, you can rely on our specialists.