Portugal Golden Visa Requirements, Supporting Documents, and Application Process

You (or your lawyers) should arrange a prior trip to Portugal so you can see your options and kickstart the process of investment. If you are interested in investing in real estate, during your initial visit, you will visit properties, meet with lawyers, and (if it is your preference) grant power of attorney to a representative.

If you want to invest in one of the other options, your lawyer will help you set up the necessary meetings and documents for the transfer.

Before finalising your investment, you will need a Portuguese tax number and bank account.

You can obtain a tax number, also known as a NIF number (Número de Identificação Fiscal), at the local office of the Tax and Customs Authority (the Taxpayer Registration Services). There will be a set of forms you must complete (provided by the tax office) and documents to submit regarding your need for a Portuguese tax number.

You can set up a bank account with any trusted financial institution in Portugal. The process is pretty straightforward, the same as anywhere else in the world – you visit the bank and ask to have a bank account set up.

You must have documents proving your income, home address, and identification for both these processes.

You can finally complete your investment once you have set up your bank account and the tax number. The investment can take months to be finalised; you cannot submit the visa application until you have the necessary documents proving you have secured it.

After finalising your investment, you can return home to collect the required documents and submit the application.

Once your investment has been completed, you can finally submit the visa application at the Immigration and Borders Service (SEF). The process is as follows:

1. Register with the ARI Portal (Residence Permits for Investment Activities) here. ARI is the SEF’s online portal for handling investor visa applications. You can register yourself or a legal representative may do it on your behalf.
2. Attach electronic copies of the required documents (in PDF and no bigger than 4MB).
3. Pay all the relevant fees.
4. Wait for confirmation from the SEF.
5. Schedule an appointment at a local branch of the SEF.

After you submit your application, it can take from three to six months to receive your residence permit card. The card is valid for one year initially and can be renewed for a maximum of five years.

With your Portuguese residence permit card, you can live and work in Portugal freely and enjoy the same benefits as all other Portuguese citizens and residents.

Five years after making your investment, you become eligible to apply for Portuguese citizenship or permanent residency. At this point, you will need to demonstrate that you have ties to Portugal and pass a general knowledge test. The test proves that you can speak Portuguese at least an A2 level (conversational) and you have general knowledge of Portuguese society and laws. There are no residency requirements.

Although it is possible to submit the application yourself, most applicants have a team of lawyers and representatives, guiding them through the process. To get the necessary advice and assistance, we advise you seek the help of certified professionals.

You can eventually obtain a Portuguese passport and enjoy the full benefits of EU nationality: no borders, access to the EU single market, and life in a stable, democratic, prosperous, and secure community.

Businesses in the EU also enjoy the free movement of labour, goods, and services and free access to more than 450 million consumers.

As Portuguese residents or citizens, you and your family will have access to all its national services, such as healthcare and education.

Portugal has a public-funded healthcare system known as the Serviço Nacional de Saúde (SNS). In 2021, the World Index of Healthcare Innovation ranked Portugal third for patient care and medical infrastructure.

Portugal also boasts a relatively high-quality level of public education across all levels – from elementary school to university. The literacy rate in Portugal sits at 99.44%, and Portuguese students continuously display higher-than-average scores on PISA tests.

Portugal offers some of the lowest living costs in Western Europe without sacrificing the quality of life. Nearly everything is affordable, from food to education, healthcare, leisure, and social activities. Technically, you can live comfortably in Portugal at around USD 1,400 per month, although the costs of living depend largely on the selected lifestyle.

In fact, Portugal is considered one of the best destinations for expats, consistently ranking high on international surveys. On the Expat Insider 2021 survey, it ranked at number five – the only European country to make it on the top ten list.

If you obtain Portuguese citizenship, you have the right to travel anywhere in the European Union without a visa. Additionally, many non-Schengen countries will also allow you to enter visa-free as long as your visa or residency permit is valid.

Then, once you obtain your Portuguese passport, you will also enjoy the full right to travel visa-free to over 100 countries worldwide.

The residence permit obtained through investment is initially valid for one year. After the first year, you can apply for renewal and you will get a two-year residence permit. You can keep renewing your residence permit every two years, then after five years, you can apply for a permanent residence permit.

You can include the following family members in your application:

• Your spouse or partner.
• Children under the age of 18.
• Children over the age of 18 who are dependent on you financially. Adult children must be enrolled in full-time education and unmarried to qualify as dependents.
• Siblings under the age of 18 of either yourself or your spouse/partner. For siblings to qualify as dependents, you or your partner must have legal custody of them.
• Dependent parents (over the age of 55) of either you or your spouse/partner. You must provide documents proving their dependency unless they are older than 65.

Any family member included in your application will receive a Portuguese residence permit card and enjoy the same rights and privileges as you.

After you have maintained your investment for five years, you can apply either for Portuguese citizenship or permanent residency. If you have a permanent residence permit, you can live and work in Portugal indefinitely and travel to other countries in the EU without a visa.

The permanent residence permit is valid for five years, and you can keep renewing it indefinitely. There are no language requirements to get permanent residency, as opposed to citizenship.

Five years after you get the residency by investment status, you can apply for Portuguese citizenship. You must submit the application at the SEF, along with documents proving that you have:

• Maintained your investment for the last five years
• Spent at least 35 days in Portugal in the last five years
• Passed the Portuguese language test.
• No criminal records.

Obtaining a Portuguese passport means that you have the same rights as other EU citizens, including the right to free movement and work, and visa-free access to over 180 countries.

If you are a non-resident: You are not taxed on income obtained abroad if you do not live in Portugal. As a non-resident, you only pay tax for income obtained within Portugal, such as from renting out real estate.

If you are a resident: If you are a resident in Portugal, you must pay tax on any income obtained abroad.

Taxable income in Portugal is considered:

• Employment income.
• Pensions.
• Director’s fees.
• Investment income.
• Rental income.
• Capital gains.

The tax rate in Portugal is from 14.50% to 48% (for income higher than €80,882). Rental income in Portugal is taxed at a flat rate of 28%.

You are considered a taxable resident if you live in Portugal for at least 183 days out of the year. It does not have to be 183 consecutive days. You can maintain your residence permit without actually residing in Portugal; therefore, you are exempt from paying income tax on income from abroad.

Remember, any income that comes from inside Portugal will still be subject to tax, even if you live abroad.

Your immediate family members (spouse/partner and dependent children) will also get residence permits. To apply for family reunification, you have to:

• Login on the ARI portal.
• Create a “family group”.
• Submit the required documents for each family member:
  • Passport
  • IDs
  • Proof of family relationship
  • Proof of health insurance
  • Any other required documents.
• Pay the visa application fee.
• Wait for confirmation.
• Schedule an appointment for them to appear at the SEF offices to submit their biometrics and documents.

The following family members are eligible to apply for family reunification with you:

• Your spouse
• Children under the age of 18
• Dependent children up to age 26. They must be students and not married.
• Parents, if they are over the age of 65.

Yes, as a foreign investor you will receive a Portugal residence permit. This will allow you to travel to other countries in the EU and Schengen Zone for a period of up to 90 days in any 180-day period.

You must stay in the country for at least 7 days in the first year and then fourteen days in the following two-year periods.

Unlike other types of investment visas, you do not have to live in Portugal permanently in order to renew your visa or to receive permanent residence or citizenship.