One of the ways of obtaining Residence Permit Visa (Golden Visa) is to invest in Real Estate projects as per the following requirement:
• €500,000 investment in single or multiple units with no restrictions;
• €350,000 investment for properties built over 30 years old and needs to be refurbished.
The real estate investment needs to be maintained for a period of 5 years in accordance with the Golden visa program.
STEP 1
Visit the embassy of Portugal to complete and authenticate the required list of documents, including the medical questionnaire for applying for medical insurance.
STEP 2
Application for Schengen Visa and acquiring the visa to travel to Portugal.
STEP 3
Travel to Portugal and select the real estate investment. In the same trip, the investor opens a bank account and provides Power of Attorney (POA) to lawyers.
STEP 4
Finalize the purchase of the property and transfer of the ownership to the investor. This can take 4 – 8 weeks for transfer of ownership. The investor can travel back home until completion of this stage with the assistance of the lawyers
STEP 5
Travel back to Portugal to submit residence permit application with all required documents and have bio-metrics taken.
STEP 6
Application approval and issuance of temporary Golden visa.
STEP 7 (Optional)
Application for permanent residence can be lodged after having met all the requirements and successfully completing 5 years as a temporary resident.
STEP 8 (Optional)
Application for citizenship of Portugal can be lodged after having met all the requirements and completed 7 years of residency.
The Validity of Residency permit (Golden visa):
- Temporary Visa: The initial Golden visa issued is valid for 1 year.
- Golden Visa: Thereon, the investor can apply for a 2 years Golden Visa which is equivalent to temporary residence permit. The Golden visa can be renewed for every 2 years as long as the investor maintains the investment.
- Stay Requirement: Minimum period of stay in Portugal is 7 days in the first year and 14 days in the subsequent 2 years; The minimum stay requirement can be fulfilled with several trips or with just one.
- Change to Permanent Residence Permit: The Investor can change their status from temporary to Permanent Residency after 5 years of Temporary Residency. To maintain the Permanent Residency of Portugal, the investor must be the Tax resident of the country and spend at least 6 months every year in Portugal.
- Citizenship: The investor can apply for Portuguese Citizenship after 7 years of residing in Portugal.
The client needs to initially open a bank account to complete the purchase of the real estate from his personal bank account in Portugal. Below are the required documents for opening a bank account:
– Original Passport
Original passport of the account holder along with 2 certified copies.
– Proof of residence address
A document that reliably proves the residential address indicated by the applicant. Generally, a recent utility bill is accepted.
– Proof of professional status
Salary Slip, Job Reference Letter, Business Documents (If owing a business), Professional ID, etc. One certified true copy is required. (Colored Copies)
– Proof for tax identification from the country of origin
If the tax address is different from the residence address, it is also necessary to provide a proof of the tax address, by means of a document of tax nature that reliably proves the tax address of the applicant.
– Original Bank statement
Original bank statement from current personal account of the investor.
Note: Documents provided must be Certified (or Apostilled) and in English or Portuguese (or legally translated).
Documents required for Application of Golden Visa (residence permit)
– Passport copies
The photocopies should include all visas in each applicant’s passport, including expired visas. All copies must be machine-readable and feature all passport pages. Two certified true-copies per applicant are required. (Colored Copies)
– Birth Certificate (All pages)
Two certified true copies per applicant are required. (Colored Copies)
– National ID / Permanent resident card
Two certified true copies per applicant are required. (Colored Copies)
– Marriage or Divorce Certificate (if applicable)
Two certified true copies per applicant (if applicable) are required. (Colored Copies)
– Other Certificates
If applicable: adoption certificates, name change records, death certificates, custody or legal guardianship records. Two certified true copies per applicant (if applicable) are required.
– Statutory Declaration of a Non-accompanying Parent (if applicable)
For a qualifying dependent below the age of 18, indicating that the non-accompanying parent has no objection to their child’s acquiring Portuguese residence. The statutory declaration should be accompanied by a certified copy of a photo ID of the non-accompanying parent bearing their signature.
One certified true copy/Original per applicant (if applicable) is required.
– Documents Verifying that Accompanying Family Members are Financially Dependent
Required for medically challenged children, dependent children above the age of 18, and qualifying accompanying family members of direct line. Parental responsibility term is required for all minor children.
One certified true copy per applicant is required.
– Education Certificates and Transcripts, Professional Certificates
For the children above the age of 18, provide certified copies of documents proving continuing studies, such as school registration, diploma, transcripts. Two certified true copies per applicant over 18 are required.
– Police Clearance Certificate (validity – 3 months)
Police clearance is required for each applicant from the country of Origin and residence in the last 1 year.
Original Document together with a certified true copy for applicant aged 16 and over.
– Valid Schengen Visa copy
Copy of the Schengen visa used to enter Portugal
– Passport-size Photos
6 passport size photos for each applicant.
Note: Documents provided must be Certified (or Apostilled) and in Portuguese (or legally translated).
