It is one of the most popular investment immigration programs in the world and a fast-track visa for quality of life and Portuguese citizenship.
Yes, we’re talking about Portugal Golden Visa Program, a residency-by-investment program introduced back in 2012. It allows applicants and their families not only to apply for Portuguese citizenship (and for European Union citizenship consequently), but also to benefit from attractive tax incentives.
This journey takes time, though. You can do it on your own, but we’re talking about a significant investment, several documents, and appointments with Portuguese authorities, which is why it’s best to leave it to a professional team.
But how exactly do you get your Golden Visa card? And how long does it take? Let’s find out in 5 easy steps!
1) Decide on a qualifying investment
Real estate acquisition is by far the most popular option. Investors usually prefer to put their money in an ever-growing market, but it’s always beneficial to consider your options. You might prefer to go ahead with a Fund Investment (fewer costs in taxes or fees), or an investment in a Portuguese business (because of your background or experience).
This is where your team of advisors comes into play. They can help you decide which option is best suited to your needs.
2) Gather all documents
One of the cons of living in Portugal is paperwork. Fortunately, your advisors can also help you with that and streamline the process.
You’ll need documents not only for the application itself but also for your legal representation and bank opening. Among these there has to be a copy of your passport, proof of income, address confirmation, criminal record, evidence of the qualifying investment, and – most importantly – a Portuguese Financial Number (NIF) and social security number. Documents must be translated and attested by a notary or the Portuguese Consulate.
3) Complete your investment
You can deal with the paperwork while deciding and completing your investment. Just remember that under this program you are required to spend at least 14 days in Portugal in the first 2 years.
4) Submit your application and wait for approval
It is now time to file your application online. There is a registration fee and an application fee for each member of your family.
Pre-approval may take up to 3 months and then it’s time for your biometric data collection. Your residence permit will be approved and issued in a timeframe of 4 to 8 weeks. We know it’s a long time, but once your residence card is issued you need only to renew it after two years.
5) Apply for Portuguese citizenship after 5 years
Renewal of your Golden Visa has to be submitted from 90 to 30 days before the expiration date. The renewal process is similar and you have to spend 14 days in Portugal during the first two years. But this time does not have to be consecutive.
At the end of 5 years, you can apply for Portuguese citizenship. In the meantime, how about learning some basic Portuguese? You’ll need it for this step, but also to immerse yourself in Portuguese culture and to know your way around.
Why not travel to some of our natural wonders during that time? Or how about some unusual destinations for your visits?
Ready to live and invest in Portugal?
Applying for Portugal Golden Visa takes time, but this is a significant investment in a different country, with a different language, and a different culture.
That’s why YELLOW Portugal has a team of experts to advise and accompany you on your journey to success. We’ll be your gateway to live and invest in Portugal, so feel free to contact us for more information!