Business Immigration and Citizenship with Portugal Golden VisaPosted By Webmaster XIPHIAS On 16-Jan-2019 03:23:38 PM
Who can get a golden visa in Portugal?
The Portugal golden visa in Portuguese Republicis intended to encourage investment. The Portugal golden visa offers a fast-track to getting a residency allow in Portuguese Republic, aboarddifferentadvantages, for non-EU investors United Nations agency invest a minimum quantity as outlined by law. Since the launch of the golden visa programme in 2012,over 4,200 Portuguese golden visas are given out. This article explains the necessities for a golden visa in Portuguese Republic, furthermoretheadvantages after youwill claim Portuguese golden visa citizenship.
Portugal Golden Visa Requirements
Any non-EU/EFTA national will apply for apply for a golden visa in Portuguese Republic, or Portuguese capitalist visa, provided they createa minimum ofone amongst the investments below, either as a private business person or via a business got wind of in Portuguese Republic or another EU member state.
You must worka minimum ofone amongstthe subsequentclassesto assert Portuguese residency by investment:
- Transfer of EUR 1 million at least into Portugal Capital.
- The ability to create at least 10 job positions in Portugal
- Purchasing real estate property in Portugal worth EUR 500,000 at least
- Purchasing real estate property in Portuguese urban regeneration areas of at least 30 years old of value at least EUR 350,000
- Investing EUR 350,000 at least in scientific research in Portugal
- Investing EUR 250,000 at least in Portuguese arts, culture and heritage
- Investing EUR 500,000 at least in small and medium businesses in Portugal.
Portugal investor visaor Portugal Business Visa benefits shareholders in a company already set up in Portugal, or in another EU state with an assured and stable residence in Portugal and fulfills tax obligations . For a minimum of five years from the date when the Portugal Visa is established the investment established for best Portugal golden visa has to be maintained.
Benefits of the Golden Visa for Portugal
In the inaugural year of the Golden Visa program, Portuguese Republic issued 318 visas, most of that were awarded to Chinese nationals with the rest about to Russian nationals, Angolan nationals, and Brazilian nationals. Golden Visa holders are licensed to measure, work, and travel into Portuguese Republic while not the requirement for extra employment or travel documents.
Because Portuguese Republic is a component of the EU Schengen space, That is comprised of twenty six European countries, Golden Visa holders are licensed to travel any place at intervals the Schengen space for up to ninety days per trip. These areas are Oesterreich, Belgium, European nation, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, European nation, Lithuania, Luxembourg, Malta, European nation, Norway, Poland, Slovakia, Slovenia, Spain, Sweden, and Schweiz.
Documents Required For a Portuguese Golden Visa
The following documents are to be submitted with the Portuguese Golden Visa Application.
- Passport / valid travel ID
- Legal Entry proof into Portugal (eg: short-stay visa)
- Health Insurance proof (issued within the last three months)
- Certificate of Criminal Record from country of origin/residence (issued within the last three months)
- Proof of compliance with Social Security Obligations and tax
- Payment of the Golden Visa fee receipt.
- Bank statements for financial investment
- Contracts of employment for job creation
- Legal deeds of purchase for real estate investment.
In addition, those who apply for the Visa need to show commitment to maintain their investment for a minimum of five years and evidence of their investment, for example:
For renewal of Portuguese golden visa, applicants might additionally asked to provide evidence that they have no issues with the minimum stay requirements during the period. All details of what is required for every type of investment can be found. The Processing time for the Portuguese golden visa takes several months.
Portuguese Golden Visa Citizenship and Permanent Residence
After completion of five years of holding the Golden Visa, the family and foreign investor can apply for Portuguese permanent residency. The application must contain proof of the foreign investor that he/she should posses a clean criminal record, sufficient financial independence to support him/herself and family, proof about domicile and residence in Portugal, and the basics of at least one Portuguese language.
Once the foreign investor is a resident for six years (counting the five years that the investor was a Golden Visa holder), through a legal proceeding called naturalization the investor can apply for Portuguese citizenship .To apply for naturalization the investor needs to provide a proof of a clean criminal record, requires knowledge of a Portuguese language to ensure that applicant and family can fluently speak the nation’s language. On approval of the naturalization application , the investor can apply for a Portuguese passport and live, work, study, and travel in Portugal without restriction or condition.
Most Importantly, Portugal only recognizes the dual citizenship and does not require any new citizens to renounce their previous nationality.
Since the Portugal Golden Visa is a brand new program, foreign nationals are advised to contact XIPHIAS Immigration as we will assist you in navigating this newest citizenship by investment law. Our Portugal golden visa consultants are available to help foreign nationals choose which property and location is best-suited to meet their investment needs and their family’s immigration goals.