FAQs for Residence Permit for PORTUGAL
FAQs – Residence Permit for PORTUGAL (Golden Visa)
RESIDENCE PERMIT IN PORTUGAL WITH THE PORTUGAL GOLDEN VISA Through INVESTMENT IN REAL ESTATE
- A new law adopted by Portugal’s government has introduced the new program Portugal Golden Visa, which allows citizens of third countries to receive a residence permit in Portugal by investing in real estate for a minimum period of 5 years.
- Unlike other such possibilities in Europe, Portugal is offering investors the ability to not only receive temporary residency but by fulfilling the conditions of maintaining the investment and staying a minimum period of time in the country, investors can also claim permanent residency and EU citizenship.
What are the Advantages of the Portugal Golden Visa program?
- Visa-free travel or living in European countries.
- You and your family will not only have the right to live in Portugal year-round, you will also be able to travel throughout the Schengen zone.
- Temporary residency for the whole family
- Through a single investment package, residency in Portugal is available also to your spouse, children under 18, and dependent adult children enrolled in higher education.
- You only need to stay in Portugal for 7 days in a year
- To keep your status as a resident, you only need to stay in Portugal for 7 days in a year, which can easily be done over a vacation or business trip.
- A chance to receive permanent residency and citizenship
- Maintaining your investment and meeting the rules on minimum stay in the country will allow you to eventually receive permanent residency and Portuguese citizenship (to receive citizenship you must pass a language test).
This is the most advantageous program in Europe for receiving residency through investment in real estate with the possibility of obtaining permanent residency and EU citizenship.
What are the Ways to obtain Portugal’s “Golden Visa”?
- Purchase real estate at a cost of at least €280,000which was built over 30 years ago and is located outside of the major cities
- Purchase real estate at a cost of €350,000which was built over 30 years ago
- Purchase real estate at a cost of at least €400,000outside the major cities
- Purchase real estate at a cost of at least €500,000
- Invest in certain venture capital or investment funds for at least €350,000
What are the Length-of-stay requirements for holders of a Portugal Golden Visa?
- After receiving Portuguese citizenship, you will be a full EU citizen and can freely live, work, study, and do business in any country of the European Union, you will receive the ability to move freely around the countries of the Schengen area, and you will have access to the social and government guarantees of those countries.
- Your children and your children’s children will automatically become EU citizens and keep all the advantages it brings.
- * Citizenship of Portugal can be claimed by applicants who, over the last 6 years, have lived in Portugal for over 183 days per year and are able to pass a language test.
Who can participate in this program?
- THE MAIN INVESTOR
- HIS/HER SPOUSE, CHILDREN UNDER THE AGE OF 18
- AND DEPENDENT CHILDREN OVER THE AGE OF 18 WHO ARE STUDENTS
- All candidates must lack a criminal record, they cannot have violated Schengen visa or customs rules, they must not be barred from entry into the EU, and they must not be subject to an inquiry in the SEF integrated information system.
What this program brings you?
- CALCULATION IS BASED ON THE TOTAL VALUE OF YOUR REAL ESTATE
- The investment object can even be several pieces of real estate bought together, provided that the total estimated value exceeds 500,000 euro. The real estate can be either residential or commercial.
- YOU CAN PAY FOR THE REAL ESTATE AFTER RECEIVING TEMPORARY RESIDENCY.
- When submitting an application for temporary residency, you are allowed to use a promissory contract with a deposit in an amount of at least 500,000 euro. The property rights should be drawn up before the first extension of your temporary residency, one year after you obtain residency.
- YOU CAN RENT OUT THE PROPERTY YOU PURCHASE
- In order to extend your temporary residency, you do not need to reside in Portugal. This allows you to rent out the property that you have purchased and gain additional income.
- Residency through the Portugal Golden Visa program is valid for a period of 5 years. However, it must be extended after the first year for another two years, and then for another two years. You must observe certain minimum conditions for being present in the country: no fewer than 7 days in the first year, and no fewer than 14 days in each of the following 2-year cycles.
What are the Documents you will need?
- Proof of ownership of the piece of real estate, issued by the Land Registry Office
- The declaration that you are not in arrears to the state customs and taxation authority or the social insurance fund
- Passport
- Proof of address of permanent residency in your country of citizenship
- Attestation that you have no criminal record in your country of citizenship, as well as in any countries you have lived in for at least one year in the last 5 years
- Proof of medical insurance
- A signed form allowing SEF to carry out a background check in the Portuguese criminal record registry
For family members’ applications
- A passport for all members of the family
- Marriage certificates and children’s birth certificates
- Proof that the family has living accommodation in Portugal
- Proof of income of at least 12,000 euro a year for each adult and 6,000 euro a year for each child
A signed declaration of good intentions by the applicant that he/she will keep the investment for at least 5 years.
What does The price of our Portugal Golden Visa package include?
- Consultation on all possibilities and finer details of participating in the Portugal Golden Visa program
- Drawing up a power of attorney
- Opening a bank account in Portugal
- Obtaining a Taxpayer Identification Number in Portugal
- Providing contact with financial representation services
- Providing our escrow account and related services (if necessary)
- Analysis and check of all documents relating to real estate ownership
- Preparation of a reservation agreement
- Preparation of a promissory contract
- Final act
- Registration of real estate ownership rights at the Land Registry Office and financial authorities
- Representation of owner’s interests to public utilities (electricity, gas, water)
- Acting as a trustee in all legal documents relating to the real estate
- Preparation and submission of documents for temporary residency under the Golden Visa program
- Accompanying your case for 5 years
- Extension of resident status under the Golden Visa program
- Support in obtaining Portuguese citizenship
Are you interested in the Portugal Golden Visa Program?
Get in touch with Corneredge!
- Transparent pricing and no imposed extra fees
- Service and support before and after you obtain residency
- Help in getting settled, tax and financial consultation
- Over 3 years of experience in the field of immigration services and tax planning
- Contact us for a Free Evaluation & Consultation to discuss detailed Application, Procedure, Documentation and Cost Estimate.
- Call us on +91 8850318060
- Obtain residency or citizenship in as little as 60-120 days**
- Please send us an email: corneredgerec@gmail.com for a free brochure.
