As of 1st of January 2022, the Portuguese Golden Visa Program got a bit harder to obtain, especially in residential real estate, no longer being obtainable in Lisbon, Porto, Algarve (with some exceptions)...
Now being limited to the interior of mainland Portugal and autonomous regions of the Azores and Madeira. However, in the specific case of the Western Algarve where we operate, it´s still possible to obtain a residential Golden Visa in Aljezur, Vila do Bispo & Monchique.
Golden Visa 2022 all the Changes and alternatives
Golden Visa Benefits
-Any third-country national can apply for it, allowing the applicant to extend the golden visa to their family, their parents if above 65, children up to 18 or 26 if they are still dependent (have to be enrolled in an educational program & not married for the later).
Portuguese, EU and EEE nationals are not eligible for the ARI / Golden Visa scheme.
-Only required to spend seven days per year on average in Portugal.
-Visa exemption for travelling within the Schengen Area.
-No requirement to become a tax resident if you´re not spending more than 183 days per year in Portugal.
-After five years, you´ll have the right to apply for Portuguese citizenship (you will have to hold/keep the investment during the whole duration of this time).
-Portugal is one of the best & safest places to live in the world while still offering an affordable quality of life
-You´re able to register with the public healthcare system of Portugal (SNS) once you get the Golden Visa.
Golden Visa Investment Options for 2022
-Capital transfer to a Portuguese Bank of at least €1.500.000
-Creation of at least ten job positions.
-Purchase of Real Estate property of at least 500.000 euros in the non-limited area. (Live Algarve´s recommendation.)
-Investing €500.000 euros in a scientific or technological research firm (private or public).
-Capital transfer of the amount of €500.000, or higher, for the constitution of a commercial society with head office in the national territory, combined with the creation of five permanent working jobs, for a minimum of three years.
-Capital transfer of the amount of 500.000 thousand Euros, or higher, for the acquisition of units of investment funds or venture capital funds of funds dedicated to the capitalization of companies.
-Transferring €250.000 into artistic production or recovery and maintenance of national cultural heritage.
Where to Apply for a Golden Visa
The Portuguese golden visa application can be submitted online via the Portuguese Immigration and Borders Service’s – SEF (Serviço de Estrangeiros e Fronteiras). An Online pre-registration is required.
We recommend using a lawyer for this process, it significantly reduces the waiting time and eases the procedure. The legal representative must deliver a power of attorney signed by the visa applicant.
What Documents do you need for applying
The following documentation is needed for an application
- Passport or ID
- 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
- Proof of payment of the Portuguese golden visa fees
In addition to this, applicants need to show a commitment to maintaining their investment for a minimum of five years. Applicants must also provide the following evidence.
- A bank statement for financial investment
- Employment contracts for job creation
- Deeds of purchase for real estate investment
Fees
Government fees for application for the Portugal golden visa are €5,336.40, there are renewal fees every two years apply at 50% of those rates. In addition, there is a processing fee on the application and renewal of €533.90 for the main applicant plus €83.30 per family member. In addition, applicants need to plan for lawyers’ fees, typically €5,000 per family. If you want eligible members to also have a Golden Visa, you must pay this fee for them, as well.
