Portugal Golden Visa program has a low stay requirement. Portugal requires the Golden Visa residents to spend a minimum of seven days annually on average in the country.
Make And Maintain A Qualified Investment For Five Years
The applicant is required to present supporting evidence that he or she has individually made the investment of the minimum amount required. As the main applicant, you must maintain the investment as long as you and your dependents hold the Golden Visa residency status.
If and once you become a permanent resident or a Portuguese citizen, the investment no longer needs to be maintained. You can then liquidate whichever investment you made.
You need to provide the following documents in order to apply for the Golden Visa;
1) Copy of a passport or other government-issued travel document
2) Proof of evidence of the qualifying investment made by the main applicant individually:
→ If real estate; a deed or promissory sale agreement with proof of deposit payment
→ If investment fund; proof of fund subscription from the fund management
3) Declaration from Portuguese financial institution confirming transfer of funds
4) Proof of healthcare coverage:
→ If in Portugal, from the National Health System in Portugal
→ If outside of Portugal, from an internationally covered insurance company
5) Criminal record of current country of residence
→ Must be issued within three (3) months of the form submission
6) A completed form authorizing SEF to access criminal record in Portugal
7) A sworn declaration on compliance with the minimum investment requirements for the necessary time period of five years
8) Documents outlining good standing with the Portuguese Tax and Customs Authority & Social Security system
→ Must be issued within 45 days of the form submission
9) Receipt of ARI application payment
Unless otherwise stated, it is best to have the documentation issued within three months of your Golden Visa application submission.
All the above documents issued by a non-Portuguese entity need to be legalized. The legalization must have an apostille if the subject country is part of the Hague convention.
Any original document that is not in Portuguese needs to be translated into Portuguese and certified. The certification is typically performed by a notary.
Below is a chart of Portugal Golden Visa government application fees;
|Processing Fee||Once at the beginning and then at each renewal||533.90 Euro (+ 83.30 Euro/dependent)|
|Initial Application Fee||Once at the beginning||5,336.40 Euro per person|
|Renewal Application Fee||At each renewal||2,668.20 Euro per person|
|Legal Fee||Progress payments||Differs between Law Firms and investment types|
Bank Account And NIF Number
Portugal requires you, the main applicant, to make the investment from your bank account in Portugal. Accordingly, it is mandatory for you to have an account in a Portuguese bank. You must also have a NIF number, which is a tax identification number in Portugal, to open the account.
Both obtaining a NIF number and opening a bank account in Portugal are pretty straightforward. They can both be done in half a day.
Getting A NIF Number
- Get a proof of address from your country of residence
- Bring a government-issued identification and your proof of address to a Finanças office in Portugal
- Get your NIF number on the spot within an hour
You can also provide your lawyer with a power of attorney and they can complete this step without you even being present in Portugal.
Opening A Portuguese Bank Account
Unlike many countries in the world, Portuguese banks make it quite easy to open a bank account for non-residents and foreigners. The banking and maintenance fees are also quite low compared to the rest of Europe. Just follow the below steps:
What you will need:
- Passport or government-issued travel document
- NIF Number
- Portuguese phone number
- Proof of address from your country of residence
- Proof of income / payslip
What you will do:
- Go to the bank branch and open your account
Simple as that. Typically, each law firm has one or more banks and branches they work closely with. It is best to get their advice in order to keep things moving quickly.