Golden Visa Portugal The Complete Guide - GOLDEN VISA PORTUGAL
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Golden
Visa
Portugal
The Complete
Guide
GOLDEN VISA
PORTUGAL
EVERYTHING YOU
NEED TO KNOW
Learn about the benefits, perks, requirements,
and documentation needed to obtain the world’s
most desired citizenship-by-investment program!
Golden Visa Portugal Engel & Völkers Real Estate
The Complete Guide Portimão Portugal 2021
Fado And it also has an appealing Golden Visa
Fátima
program for those not born in Portuguese
lands nor with any Portuguese ancestors.
A program for those ready to conquer the
right to live in Portugal. The right to invest
Futebol
in a country undergoing economic recovery.
The right to protect their assets from an
unstable political and economic situation in
their country of origin. Or, simply, the right
to guarantee residence for their children
to continue their studies within a quality
education system.
Golden Visa is the most requested citizenship
Fado, Fátima and Futebol program for investment in the world! By the
end of the 1st semester of 2021 in Portugal,
(Soccer). These are the 9,767 applicants had already received
three Fs that generally approval, while 15,792 were awaiting
resolution. These numbers leave space for no
characterize Portugal. doubt: the Golden Visa program in Portugal
However, we can also talk meets the interest of foreign citizens who wish
to obtain a Portuguese passport and have free
about safety, tranquility, access to the Schengen Area. Citizens who
and quality of life. Or also want to enjoy all the benefits of living,
studying, or working in a European country.
access to various health Read on to learn more about the Golden
services, leisure activities, Visa program, how the application process
works, what the Golden Visa timeline is, basic
and fairy tale landscapes! requirements and documentation needed, and
And the good weather, other information about the Golden Card!
the paradisiacal beaches,
the excellent gastronomy.
In short, everything you
may need to live a happy
The Golden Visa program is the
life, Portugal has! For those who were neither
born in Portuguese lands nor most requested citizenship program
have Portuguese ancestry. by investment in the world!
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Golden Visa Portugal Engel & Völkers Real Estate
The Complete Guide Portimão Portugal 2021
What can you Who is eligible for Portugal’s Golden Visa? What is the most advised type of investment?
What are the requirements to obtain a Golden How much does the Portuguese Golden Visa
find in this
Visa? cost?
Documentation needed to apply for a Golden What is the preferred option for investors?
Visa
Portugal’s Golden Visa Fees
complete guide
How do I obtain a Tax Identification Number?
How does tax collection work for the investor?
How can I open a bank account in Portugal?
Portugal’s Golden Visa: Timeline
about Portugal’s
What happens after the first 5 years of
Step by step towards your Portuguese Golden
investment?
Visa
Does Portugal’s Golden Visa cover the
Is Portugal still the best destination to invest in
Golden Visa?
investor’s family members?
a Golden Visa?
How long does it take to obtain a Golden
Is Portugal still the best country for property
Visa?
investment?
Can I live in Portugal before the Golden Visa is
Benefits of working and living in Portugal
issued?
Golden Visa 2022 | What new conditions will
How does Portugal’s Golden Visa work in
be valid starting in January?
reality?
What is the Golden Visa program? Golden Visa in Algarve
Golden Visa through Real Estate investment
Portugal’s Golden Visa Benefits of Portugal’s Golden Visa in Algarve
What does the Golden Visa Real Estate
Benefits of the Golden Visa for Portugal investment option include? Real Estate in Algarve
and investors
What are the other investment options for the What are the benefits of buying a house in
Schengen Agreement Portuguese Golden Visa? Algarve?
Can I have a Portuguese Golden Visa How can you find good opportunities for
and live in another country? property investment in Portugal?
What is a Tax Residency? In which property segments can you invest in
Portugal?
What are the main benefits of the
Non-Habitual Resident Tax Regime? Examples of properties available for Golden
Visa investment
Benefits of the Golden Visa program
Why should you choose Engel & Völkers
Who is the Golden Visa program for?
Portimão to assist you in the process?
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Golden Visa Portugal Engel & Völkers Real Estate
The Complete Guide Portimão Portugal 2021
What is the Golden
Portugal’s
Golden Visa
Visa program? a residence permit with special
conditions for foreigners outside
the European Union.
facilitates Portugal’s contacts
abroad, promoting culture, Real
Estate investment, international
The investment activity carried out relations, and, eventually, the
Created by the In that sense, acquiring a Golden Visa means getting a under the scope of the Golden integration of investor immigrants
Portuguese Residence Permit for Investment Activity (ARI) and having Visa can be done by the individual through permanent titles or
government in 2012 access to several benefits of living in the European Union or through a Single-Member nationality requests.
(Law nº29/2012), the (EU). Citizens with a Golden Visa card are not obliged to Limited Liability Company, as For investors, the Golden Visa
Golden Visa program live permanently in Portugal. long as it leads to the realization is equally profitable! It allows
offers investors the Therefore, the Golden Visa is not so much a “visa” but of at least one of the types of them to enjoy a series of benefits
possibility to obtain a way to guarantee a Residence Permit via Investment. investment foreseen in the law — resulting from a residence in
special international The program aims to attract resources and investors to which we will talk about later — Portugal: living, working, or
residence authorization the country by granting a special residence permit to for a minimum period of 5 years. studying in a safe country,
when making qualified foreigners outside the European Union. In return, these The Golden Visa program is very privileged access to territories
investments in individuals must have the power to invest in Portugal, beneficial for Portugal since with which Portugal has good
Portuguese territory. either through Real Estate or job creation. the country receives a series of relations, and, of course, the
Portugal’s Golden Visa is the most attractive citizenship by resources, later used to incite possibility to acquire a property in
investment or residency by investment program in Europe! the local market and applied different scenarios of the country,
It was created in 2012 to attract resources and investors in structures directed towards from the big cities to areas with
to the country, through a bargaining chip: the granting of the population’s welfare. It also exuberant beaches like Algarve!
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Golden Visa Portugal Engel & Völkers Real Estate
The Complete Guide Portimão Portugal 2021
Schengen Which countries make up the
Schengen Area?
get the Golden Visa, you are also eligible
to become a tax resident in Portugal;
Agreement Twenty-six countries make up the Schengen
Area: Austria, Belgium, Czech Republic,
Denmark, Estonia, Finland, France, Germany,
that is if you have not been subject to tax
as such in the last five years.
Greece, Hungary, Iceland, Italy, Latvia, What are the main benefits of the
Liechtenstein, Lithuania, Luxembourg, Malta, Non-Habitual Resident Tax Regime?
Netherlands, Norway, Poland, Portugal, The Non-Habitual Resident Tax Regime,
Slovakia, Slovenia, Spain, Sweden, and approved in 2009, grants tax incentives,
And speaking of privileged Switzerland. for a ten-year period, to people who apply
access to territories with Some countries are part of the European for tax residence in Portugal and have high
which Portugal has good Union but are not in the treaty, while others are value-added activities, whether they are of a
relations — and before part of the Schengen Agreement but not part scientific, artistic, or technical nature. We are
we move further along in of the EU. speaking of a tax rate reduced to only 20%
this complete guide — it is in the case of income from dependent work
necessary to understand in Portugal. What about income acquired
Can I have a Portuguese Golden Visa
that the so-called Schengen abroad? There may be tax exemption. What is
and live in another country?
Agreement is the foundation the purpose? To attract high-income earners
Yes, you can have a Portuguese Golden
for residence permits, such (working or retired people) to Portugal, of
Visa and live in another country. The only
as the visa in question. course!
requirement is to spend an average of 7 days
Created in 1985, the Schengen
per year in Portugal to keep your visa. From
Agreement or Schengen Which professions can benefit from
the moment you have your residence permit
Convention defines the the Non-Habitual Resident Tax Regime
in your hands, you will be registered in the
conditions and guarantees to in Portugal?
central system of the Schengen Treaty Area
create an area without internal Archaeologists, Architects, Auditors,
and benefit from free access to almost all
border controls. The Schengen Biologists, Programmers, Data Processing
European countries without the need for an
Area is the sum of 26 out of and Hosting Specialists, Dentists, Designers,
additional visa!
27 countries of the European Engineers, Geologists, Investors (Company
Union that have abolished Directors and Managers), Consultants, IT
What is a Tax Residency?
internal border controls and Professionals, and Specialists, Life Science
Tax residence is a concept that determines
allow movement as if they Specialists, Doctors, Musicians, Painters,
the taxing power of a country over a person.
were a single country. There, Psychologists, Sculptors, Senior Managers
According to the Personal Income Tax (IRS)
European citizens and even (except Company Directors), Singers, Tax
Code, tax residents in Portugal are subject
nationals of non-EU countries Consultants, Theater, Ballet, Cinema, Radio,
to taxation on all their income, including
can move freely for tourism or and Television Professionals, University
income obtained outside that territory. It is
work purposes. Teachers, Developers and Web Designers.
necessary to explain that if you manage to
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Golden Visa Portugal Engel & Völkers Real Estate
The Complete Guide Portimão Portugal 2021
• Golden Visa also exempts foreign
retirees from pension tax relief;
Benefits of
• You can choose from different
investment options, which
are relatively affordable and
not subject to any limitations
the Golden
regarding subsequent
investments or employment
opportunities;
Visa Program
• You can enjoy a second
residence in a safe and stable
country;
• Unlike other Golden Visa
programs, the Portuguese
Golden Visa is compliant with
the OECD (Organization for
Economic Cooperation and
The Portuguese Golden Visa tax payments in Portugal, no
Golden
Development);
program has many benefits, criminal records in Portugal or
including: your home country, and have • It is easier and more affordable
successfully passed a basic to obtain the Portuguese Golden
• You can live, work and study
Visa
Portuguese language test; Visa than other European
in Portugal;
Union citizenship programs.
• Live, work or study in any
• Have access to all public That is because there are
country of the European
services, including healthcare few documents needed and
Union, as long as you have a
and education, if you decide to the process is not long when
Portuguese passport;
live in Portugal; compared to others;
• With the Portuguese Golden
• Start and run your own • Dependent children and parents
Visa program, you do not have
business in Portugal; of Golden Visa investors also
to take on any tax liability
enjoy the same benefits, with no
• Travel freely and without a visa unless you spend more than
further investment requirements.
to the Schengen Area, which 183 days per year in Portugal.
includes countries like France, In that case, you will be
Germany, Denmark, Greece, considered a Tax Resident;
Holland, Spain, Sweden, and
• You can apply for the
England, among others;
Non-Habitual Resident Tax
• Apply for Portuguese Regime and benefit from a
citizenship after five years generous tax and fee reduction
of the Golden Visa, as long for ten years;
as you have no outstanding
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Golden Visa Portugal Engel & Völkers Real Estate
The Complete Guide Portimão Portugal 2021
Who is the
Golden Visa
program for?
The Golden Visa contemplates
any citizen who is not part
of the European Union, the
European Economic Area, or
Switzerland, and who is willing
to make a qualified investment
in Portugal and keep it for a Who is eligible for
minimum period of 5 years, in Portugal’s Golden Visa?
one of the following situations:
acquisition of real estate,
venture capital funds, transfer of As we had the opportunity to mention, any • Apply the minimum investment required
nominal capital, creation of jobs, non-EU, EEA, or Swiss citizen is eligible for
Portugal’s Golden Visa. Still, he has to meet
to obtain the Portuguese Golden Visa;
incorporation of companies, some requirements, namely:
• Use funds in the investments that come
from a foreign country;
and donations for scientific • Be 18 years of age or older; • Invest in one of the following categories:
or technological research and • Not have a criminal record both in your
acquisition of real estate, venture capital
artistic productions. home country or in Portugal;
funds, transfer of capital, job creation,
company formation, and donations.
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Golden Visa Portugal Engel & Völkers Real Estate
The Complete Guide Portimão Portugal 2021
There are different requirements to
obtain a Golden Visa, but essentially,
candidates who meet at least one of
these three conditions are eligible:
Capital transfers of at least 1 million
euros, subject to certain conditions;
What are the
Purchase of real estate with a
minimum value of half a million
requirements
euros; Creation and maintenance of
a given number of jobs.
The funds must be wholly owned
to obtain a and originated entirely abroad.
Notwithstanding the investment,
Golden Visa?
some other requirements or
conditions must be met for a
Golden Visa to be granted, namely
the applicant’s nationality and the
absence of criminal activity.
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Golden Visa Portugal Engel & Völkers Real Estate
The Complete Guide Portimão Portugal 2021
Other information
Documentation regarding
documentation for
needed to the Portuguese
apply for a Golden Visa
Golden Visa Criminal records must be issued no
later than 90 days before submitting
your application for the Golden Visa.
All other certificates have a deadline
of 180 days.
Either in the initial application or with each where you have been residing for more
All foreign documents must be
renewal of the Golden Visa, you must submit than one year;
officially translated to Portuguese by
the following documents:
• Form authorizing SEF (Foreigners and a certified translator and notarized
Borders Service) to obtain a copy of your by the Ministry of Foreign Affairs.
• Copy of valid passport;
Portuguese criminal record; If there are documents to be
• Declaration of Commitment of Honor authenticated, you should go to
• Proof of the regularized tax situation
attesting to the compliance with the the Portuguese Consulate in your
through a declaration of non-debt issued
requirements relating to the exercise of country of origin. And be very aware
by the Tax and Customs Authority and
investment activity in Portugal; that to make your investment in
Social Security;
national territory and be eligible for
• Proof of one of the three types of
• Receipt confirming payment of the a Golden card, you must first ask for
investment made entirely on national
application fee for the Golden Visa; your Tax Identification Number and
territory: signed Deed or Promissory
subsequently open a bank account
Contract with confirmation of the deposit • Valid Schengen Visa to grant a residence
in Portugal.
payment or statement from your bank in permit or short-term visa. The Portuguese
Portugal confirming the transfer of funds; Consulate in the county of origin can issue
the mentioned visa;
• Certificate of health insurance in Portugal;
• Proof of legal entry and stay in the national
• Copy of criminal record, authenticated
territory;
by Portuguese authorities, or similar
document issued by the responsible • Birth certificate (in case of a foreign child).
entities of the country of origin or country
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Golden Visa Portugal Engel & Völkers Real Estate
The Complete Guide Portimão Portugal 2021
How can I get a Tax Identification
Number without proof of residence?
How do If you do not reside in Portugal or do not yet
have proof of residence, you must appoint
I obtain a Tax
a tax representative with a Tax Identification
Number. A tax representative can be any
individual or legal entity that accepts the
Identification role, as long as they reside in Portugal or
have their headquarters in Portuguese
Number?
territory. And from the moment you request
your Tax Identification Number, whether
you are a resident or not in Portugal, you
will be registered in AT’s (Tax Authority —
Autoridade Tributária e Aduaneira) database!
How can I open a bank account in
Portugal?
First of all, to open a bank account in
You can obtain your Tax
Portugal, you must have a Portuguese Tax
Identification Number
Identification Number. Next, you’ll need to
(also known as Taxpayer
go to a bank branch (not all banks allow you
Identification Number) by
to open an account online) and present the
going to a tax office and
following documents:
presenting the following
documents:
• Tax Identification Number;
• Valid passport;
• Valid identification document: passport
• Proof of residency from or ID card from country of origin;
the country of origin.
• Proof of residence;
• Proof of employment or statement from
the employer.
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The Complete Guide Portimão Portugal 2021
Does Portugal’s
Golden Visa
cover the
investor’s family
members?
Yes, your direct
family members and Who is considered a family member? How many people can I add to the
other dependents Not everyone in your family can be part of your Golden Visa?
receive the same Golden Visa. However, you can include: There is no limit to the number of people
who can be part of the same Golden Visa
benefits as the • Spouse or legal partner; application. However, they must belong to the
investor with the • Dependent children of legal age provided
family group and have a direct relationship
with the investor, bearing the respective
Golden Visa Card. they are single and enrolled as full-time
students;
immigration fees.
• Children and young people under 18
years of age, who are under your care or Can same-sex couples also apply for
guardianship; the Portuguese Golden Visa Family
Reunion?
• Parents of either spouse who are
Yes, same-sex couples can apply for the
economically dependent on the investor;
Portuguese Golden Visa and have the
• Siblings of either spouse under the age of same rights as heterosexual couples. Their
18 if they are legally responsible for them children are also eligible to be residents as
and such responsibility is valid in Portugal. dependents.
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The Complete Guide Portimão Portugal 2021
How does
Portugal’s How long does it take to obtain a
Golden Visa
Golden Visa?
The process is relatively quick! Within three
to six months after applying for the Golden
work in reality? Visa, you will have an answer. In case your
application is accepted, a temporary residence
permit is issued. From then on, you can renew
it twice, for two years and one year. From year
five onwards, you can apply for Portuguese
citizenship!
What happens after the first 5 years of
It is easy to explain how the investment?
Portuguese Golden Visa After the first five years of investment foreseen
in the Golden Visa, you are no longer required
works. At first, you invest to show proof of investment or even maintain
in Portugal, through the it. Despite that, you can become a permanent
resident or Portuguese citizen! In other words,
purchase of Real Estate, you and your family can apply for permanent
for example. After that, residence and Portuguese citizenship with the
right to a Portuguese passport.
the Golden Visa program
regularizes your situation in
the country, granting you a
residence permit and even
Portuguese citizenship (5
years later).
The Golden Visa program regulates But if you prefer, you can live in another
your situation in the country by granting country, as long as you visit Portugal with
you a residence permit. some frequency during that period.
22 23Portugal 2021
Golden Visa through
Real Estate investment
The most common, most popular, and most euros (adding up the acquisition value of the
trusted type of Golden Visa investment is in property plus the renovation costs, which
Real Estate. Meaning, purchasing one or more must be borne by a Portuguese construction
than one property in Portugal (of any typology company). And yet, the value can be reduced
and anywhere): as long as the requirements to 280 thousand euros if the property is in a
and minimum investment value are respected. lower-density area.
500 thousand euros is the minimum value of
the investment in Real Estate, within the scope What does the Golden Visa Real Estate
of the Golden Visa. You can invest in a single investment option include?
property or in several properties that add up Residential or Commercial Real Estate.
to this value. Real Estate acquired through co-ownership,
However, the value can be reduced to 400 provided that the investor’s share is the
thousand euros if the property is in a low minimum amount required; Real Estate
population density area. Under Portuguese purchased individually or through a Single-
law, a low population density area is any Member Limited Liability Company in which
territory with less than 100 inhabitants per the investor is a shareholder with his own
square kilometer, or any territory with a GDP funds; Real Estate with tenants.
under 75% of the national average, as long
as it is confirmed by the responsible entities Is it possible to finance the property for
(SEF). the Golden Visa?
You can invest in the renovation of one or The minimum investment amount can’t be
more eligible properties over 30 years old obtained through bank financing, but the
or in properties located in designated areas surplus can! Nothing prevents you from
for urban renewal (ARU). In this case, the applying for a loan to increase the value of
investment required is at least 350 thousand your investment.
25Golden Visa Portugal Engel & Völkers Real Estate
The Complete Guide Portimão Portugal 2021
What are Research
the other
You can invest in research conducted by What is the most advised type of
accredited institutions that are part of the investment?
Portuguese scientific and technological While investing in Real Estate is the most
investment system, with at least 350 thousand euros. common and safest option, it is your
particular situation that will determine the
options for the
Business best investment for you and your loved
You can invest in a business or company ones. However, we can’t help but tell you
registered in Portugal with at least 350 that there are Real Estate investment
Portuguese thousand euros by incorporating or increasing
its share capital and creating or maintaining
options that can be worthwhile, even
because the possibility of buying one or
Golden Visa?
at least five permanent full-time jobs for a more properties and spending 500 thousand
minimum period of 3 years. euros is only one of the options! In Portugal,
there are many buildings with more than 30
Capital Funds years that need rehabilitation and in which
You can invest in mutual funds or venture you can invest only 350 thousand euros!
capital funds, transferring a minimum of 350
thousand euros to establish a commercial
company with headquarters in Portugal’s
Golden Visa Capital Transfer
national territory.
applicants do not You can transfer at least 1 million euros to a
only depend on Real bank account in Portugal.
Estate investments!
There are other Job Creation
investment options You can create ten new full-time jobs in a
to get a Golden card. Portuguese company in the format of a Single
Discover the best Member Limited Liability Company (or eight
ones with us! new positions if you are in a low-density area).
National Patrimony
You can invest (at least) 250 thousand euros in
the conservation of the National Heritage, Arts,
and Culture.
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Real Estate Investment in the total of 500 • Golden Visa approval fee = €5,274.40 per
thousand euros; Real Estate Investment in a visa holder;
How much low population density area for 400 thousand
euros; Rehabilitation of old buildings (must
• Visa renewal fee (at the end of the second
and fourth year) = €2,637.20 per visa
does the
be over 30 years old) for 350 thousand euros;
holder;
Rehabilitation of Real Estate in a low-density
area for 280 thousand euros; Investment in • Legal fees = approximately €2,000 for initial
Portuguese an existing business for 350 thousand euros;
Investing in mutual funds in the amount of
application and €1,500 for each renewal
per person.
Golden Visa
350 thousand euros; Investment in scientific
or technological research for 350 thousand
What is the tax reduction under the
euros; Investment in national artistic heritage,
cost?
Non-Habitual Resident regime?
for 250 thousand euros.
The reduction in the amount of taxes and
fees for Gold Visa holders residing in Portugal
What is the preferred option
varies according to the type of income.
for investors?
As a general rule, income from one of the
The preferred option for investors (with 92%
professional activities listed in the Non-
of applicants) is Real Estate investment. The
Habitual Resident requirements is taxed at
preferred alternative is the 500 thousand euros
the source with a maximum rate of 20%. And
Let’s do the math! The option (64% of the total), followed by old
they also benefit from another tax concession:
Portuguese Golden Visa properties’ rehabilitation worth 350 thousand
since they have decided to reside in Portugal,
can cost at least 250 euros (28% of the total). Capital transfer and
investors avoid double taxation as the Non-
thousand euros applied to investing in Mutual Funds account for 4% of
Habitual Resident system does not foresee
national assets. Meaning, the total each. Applicants for the Portuguese
any taxation on income earned in other
the minimum investment Golden Visa don’t usually choose the
countries.
required to obtain Portuguese remaining types of investments. These pieces
residency is 250 thousand of information come from official Portuguese
What is the expiration date of the
euros, but it can reach 1 government sources.
Non-Habitual Resident regime?
million euros if you opt for
The Non-Habitual Resident special regime
a capital transfer. In short, Portugal’s Golden Visa Fees
is valid for ten years, and the application for
the Portuguese Golden Visa Our math doesn’t stop just yet, because it is
registration must be made by March 31st of
presents several investment also necessary to understand what taxes or
the year, following the one in which residence
options, with different prices. fees you will have to pay for the Portuguese
in Portugal begins.
Golden Visa (figures as of July/2021):
• Initial application fee = €527.60 (€82.30 for
the investor and each family member);
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Portugal’s Golden
Visa: Timeline
Year 2
At the end of year 2,
you need to renew your Year 5
residence permit for another By the end of year 5, you have three options.
01 Year 0 03 two years. You must do so
30 to 90 days before the
05 You can either apply for permanent residency
in Portugal, apply for Portuguese citizenship,
Your Golden Visa
residence card’s expiration or continue with the Golden Visa temporary
is issued and valid
date by repeating the SEF residency program. If you choose to become
for two years.
appointment and resending a permanent resident or Portuguese citizen,
the updated documentation you do not need to maintain the investment
(namely the criminal record). previously made for the Golden Visa.
02 Years 1 and 2 04 Year 3 and 4 06 Year 6
In the first two years, you The residence permit is valid for two If you choose to continue
must spend a total of 14 days more years, during which you must with the Golden Visa
in Portugal, consecutive or spend at least 14 days in Portugal. At temporary residency
non-consecutive. the end of year 4, you must renew your program, you must renew
residence permit for another year and the Golden Visa in year 6.
spend at least seven days in Portugal.
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01 Choose the type of investment
Step by step If you are interested in applying for a Golden Visa, you
should start by looking at the list of available investment
types and choose the most profitable one for you.
towards your
Portuguese 02
Gather the necessary documents
Golden Visa
Once you have chosen the type of investment, it’s time to gather
all the necessary documents to obtain the Golden Visa: yours
(primary applicant) and those of your family or dependents (if
applicable). Step 2 is the most bureaucratic and tiresome because
it requires translations, authentications, and certificates. However,
you can always ask for help from a professional consultant who
can assist you with the Golden Visa program.
The step-by-step process Obtain a TIN and open a bank account
towards the Portuguese
03 Have you gathered the necessary documentation for the Golden
Gold Visa is split into eight Visa application? Great! Now take a day to get your TIN (Taxpayer
Identification Number) and then to a bank branch to open a bank
steps related to all the account in Portugal. If you are not in the country, you can always
necessary procedures to assign both tasks to a legal representative.
start, carry out, maintain,
and conclude your
application for residency Make the investment
or citizenship. 04 Carry out the investment in Portugal, starting by
transferring the required investment amount to your
new bank account.
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05 Send the pre-application
With your investment made and all documentation ready, the
investor or their legal representative can send the required pre-
application online. In approximately five weeks, the biometric
appointment is scheduled. The investor can choose the most
convenient date to make it!
Present yourself at SEF
06
You must attend the appointment at SEF,
accompanied by your family members (if applicable),
to leave fingerprints and formalize your application.
Get your Golden Visa and renew it
07
Congratulations! You had to wait about four months between
the biometric consultation at SEF and the receipt of the Golden
Visa resident card, but it was worth it! You are near the end of the
process. However, don’t forget that the card has to be renewed
after two years and before its’ expiration date.
Become a Portuguese Citizen
08
Have you already renewed your initial Golden Visa card twice?
That means you have completed the mandatory five years and are
ready to apply for permanent residence or Portuguese citizenship
— and also receive a Portuguese passport. If you prefer, you
can keep renewing the Golden Visa. The request for permanent
residency or citizenship usually takes between 6 months to 1 year
to be approved. However, once it is approved, it frees you to carry
on with your investment in Portugal!
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Yes, it is! There is no doubt that
Portugal is at the top of investors’
preferences, ahead of Greece,
Malta, or Cyprus. And do you
know why? Because Portugal is a
beautiful and safe country? Yes, but
not only that! Portugal is one of the
most agile, flexible, and quickest
Is Portugal still the
countries to grant residence visas,
allowing investors to travel visa-
free to 26 countries in the Schengen
Zone. Is that all? No, Portugal
also offers the option to apply for best destination to
invest in a Golden
Portuguese citizenship after five
years of residence under the Gold
Visa?
Visa. Plus! Portugal provides an
attractive tax regime to the so-
called Non-Habitual Residents.
And if these are not reasons
enough, Portugal also guarantees
that all dependent members of the
investor’s family are eligible for the
Golden Visa.
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Is Portugal still Benefits of
the best country working and living
for property in Portugal
investment?
Portugal has a wide-open
door to Europe! It has
established ties with the
Portuguese-speaking
countries, has a unique
strategic geographic
position, Atlantic centrality,
It still is! Real estate According to a survey by British consultant Astons, a total
the vastest ocean space
investments are of 647 million Euros were invested in Portugal through the in Europe, and access to
preferred by Golden
Visa applicants, as they
Golden Visa program in 2020, with an average investment
of around 547,377 Euros in real estate alone! And in the
routes to the American,
allow a good return on first two months of 2021, 85 million Euros have already African, and Asian
investment. Applicants
can even rent out their
been invested, with the average investment per applicant
increasing to 548,387 Euros, which indicates unequivocal
continents.
properties for further growth and consequently reveals the increasing interest of
financial benefits, in the global investors’ community in property investment in
addition to permanent Portugal. That is why, at this very moment, Portugal is the
residency in Portugal. only country in the European Union that is on the list of the
three best countries to buy a house using the Golden Visa
program, which includes Residence Permit for Investment
or granting of citizenship. And it is the only country in the
European Union where the home buying process does
not suffer delays because of bureaucratic and mobility
difficulties that have recently arisen with Brexit.
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More benefits
of working
• Portugal offers numerous possibilities
for investors interested in the real
estate market.
and living in • Portugal is one of the world’s top
tourist destinations.
Portugal • Portugal has some of the tastiest and
healthiest cuisines.
• Portugal stands out for its acceptance
and hospitality towards people from
other cultures and does not endure
terrorism.
• Portugal is considered the third • Portugal is on the list of the seven
safest country worldwide and is the best countries in the world to welcome
second most peaceful in Europe foreign citizens looking for villas,
(according to the Global Peace Index apartments, land, and businesses
2020). to settle in Europe (Forbes 2020
magazine).
• Portugal has a functioning legal
system and an effective and Considering that we are just listing the
measured police force. main benefits of working and living in
Portugal, it is not difficult to understand
• Portugal offers a high quality of life,
why the Portuguese Golden Visa is
has a solid education system, and
becoming more and more attractive to
excellent health services.
foreign investors.
• Portugal has an extensive
and diversified transportation
infrastructure and modern and
privileged accesses: by land, sea,
and air.
• Portugal has its main cities
connected to major ports, highway
roads, and airports.
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Golden
These changes are related to increased Golden Visa 2022 | Capital Transfer
minimum capital investment amounts and The capital transfer in the amount equal to
limitations on the geographic areas of or greater than one million euros changes
Visa 2022
application for housing investment. to a minimum investment of one and a half
million euros. The value of the minimum
Golden Visa 2022 | Real Estate investment in capital transfers for application
Investment in research activities, developed by public or
The minimum amount of 500 thousand euros private scientific research institutions, part of
for housing purposes will only be allowed the Portuguese scientific and technological
within Portugal, Azores, and Madeira. system, is increased from 350 to 500
Properties inside licensed developments thousand Euros.
What new conditions for tourism purposes will not suffer any
restrictions.
The minimum investment value in the transfer
of capital for investment in Private Equity
will be valid starting in There is a sharp restriction of focus on Funds increases from 350 to 500 thousand
January? As of January the Municipalities of Lisbon and Porto
metropolitan areas (except for the Municipality
euros. The minimum investment value
for the transfer of capital to incorporate a
1, 2022, the Portuguese of Arouca and the parishes of Arões and company in Portugal, combined with the
Golden Visa program Junqueira in the Municipality of Vale de
Cambra).
creation of 5 permanent jobs, or to increase
the share capital of a Portuguese company,
will undergo some The changes are justified by the intense while creating or maintaining these jobs, is
minor changes, already real estate pressure in major urban centers
in recent years due to Golden Visa-related
increased from 350 to 500 thousand euros.
If the new 2022 Golden Visa conditions are not
published in Decree- investment. However, investors will still be to your liking, hurry up and apply because, as
Law 14/2021, which able to secure their Golden Visa. How?
By purchasing real estate for commercial
of January 2022, the new rules will apply.
Moreover, it should be noted that despite
amends Law 23/2007, purposes in Lisbon and Porto (among other the new guidelines, Portugal still offers an
also known as the urban centers). Despite the changes, these
areas are still covered by the Golden Visa
attractive investment activity, if compared with
other countries: real estate investment!
Golden Visa Law. 2022 program.
Despite the new guidelines, Portugal still offers an attractive
investment opportunity, when compared to other countries:
real estate investment!
42 43Golden Visa Portugal Engel & Völkers Real Estate
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Benefits of Portugal’s
Golden Visa in Algarve
From sunny weather to cuisine. From
safety to quality of life. From hospitality
to tax benefits. There is no shortage of
advantages of the Golden Visa program in
Algarve! Learn why many foreign citizens
decide to invest and live in the south of
Golden Visa
Portugal and join them in this private
paradise within a country by the sea.
Free movement within Europe and
in Algarve
friendly countries
Farewell borders, see you soon! In Algarve,
since the signing of the Maastricht Treaty
in 1992, people within the European Union
and friendly countries have had freedom
of movement and residence. Under the
Schengen agreement and the adoption of
Directive 2004/38/EC concerning the right
Algarve is a magnet for Golden Visa because average and have the privilege of enjoying of citizens of the European Union to move
it is a region in the south of Portugal, located the tranquility and luxury of having a house and reside freely within the EU, internal
in an area blessed by fortune, of outstanding with a swimming pool and sea views, just borders have gradually been eliminated.
beauty, with paradisiacal beaches, beautiful a few meters from the beach! Others want
natural landscapes, and a sunny climate something in return (and why not?) and Weather
all year round. Algarve also has one of the choose Algarve for investments under the 365 days of sunshine, or almost! The
greatest multicultural diversities in the country. Golden Visa since the right of permanent Algarve’s Mediterranean climate is known
That’s because many foreigners decide to residence and Portuguese citizenship is for having over 300 days of sunshine a
come and live in Portugal, before or after easier and quicker to obtain. What about year, with warm and dry weather in most
retirement, with or without a Golden Card. you? Are you ready to join this group? To take months. In winter, the average temperature
Portimão, Vilamoura, Quarteira, Quinta do advantage of the Golden Visa to raise your ranges from 15 to 20 degrees. On the
Lago, Vale do Lobo, Almancil, and Faro are family in Portugal? To start a business from other hand, during the summer months,
among the most sought-after places for scratch, to study, live off the profits, or enjoy it rises to 30 degrees. Because of the
foreign citizens to buy a house, for permanent retirement? warmish temperature, it’s possible to
or temporary residence. Many investors Discover Algarve, Portugal’s most southern schedule outdoor activities all year round,
want to benefit from the fact that property region, and understand why this little paradise day and night!
prices in Algarve are well below the European is being re-discovered by foreign investors.
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Best Beach Destination in Europe We remind you that for the World Health Cost of Living movement within the EU, for newly residing or
Are you up for a quick swim? Algarve is Organization (WHO), quality of life implies To enjoy life and be happy without spending Non-Habitual Residents.
considered Europe’s Best Beach Destination physical, mental, psychological, and spiritual too much? Yes, you can! The cost of living in
by the World Travel Awards. The region is well-being. But that’s not all! Socialization, Algarve is low compared to other European Gastronomy
known as an international vacation resort, with health, and safety are also crucial to guarantee destinations. In Portugal, the general cost of Sardines, octopus, clams. Whelk and bean
92 beaches awarded the blue flag! a good quality of life. In this sense, Portugal living is about €800 per person. stew, Algarvian-style broad beans, seafood
occupies first place in all rankings, with rice, cuttlefish, razor clam rice, convent
Location and Accesses Algarve making a considerable contribution! Healthcare System sweets, what a delight!
All roads lead to Algarve! Located on the Portugal has a sound public health system, Algarve’s gastronomy is one of the best known
Western end of the Iberian Peninsula, the Hospitality which is considered low cost for both tourists and respected in the world. And even though
south of Portugal is surrounded by Alentejo on In a famous popular song entitled “Casa and European citizens or residents. In addition the southern region of Portugal is best known
the north side. The Guadiana River separates Portuguesa,” it is written: “A good Portuguese to the public healthcare system, Algarve offers for its quality fish and seafood, it also offers
it from Spain on the east side, while the west house rhymes with bread and wine on the excellent hospitals and private clinics of all fresh vegetables, olive oil, and bread, meat
and south is bathed by the Atlantic Ocean. It table. And if someone knocks humbly on the specialties, where most staff and doctors are and sausages, wines, and desserts to eat and
is easy to get to Algarve from anywhere in the door, he’s welcomed at the table.” The quote multilingual. cry over!
world! And that’s because Algarve has a road is, in fact, a faithful portrait of the hospitality
network composed of highways, major and of the Portuguese people and the Algarvians Real Estate Market Golf
complementary routes, national and municipal in particular. These are excellent news since The Real Estate Market in Algarve is booming. People say that a golf game is the best cure
roads, as well as railway transport and airport there are currently almost half a million Right after Lisbon, Algarve is the second most for stress, and in Algarve, you can confirm
for those who intend to arrive by plane, among foreigners living in Portugal, according to the wanted place to buy a house for permanent it! The region has some of the best golf
other alternatives to reach paradise! Immigration, Borders, and Asylum Report. residence or vacations, and that’s because courses ever, so much so that it won in 2020,
A large part of them is in Algarve! The British, the south of Portugal is very crowded: it has the best golf destination in the world by the
Safety French, Italians, Brazilians, among others, a mild climate, incredible beaches, beautiful International Golf Travel Market.
Safety is an investment that pays off for those have chosen the south of the country to live natural landscapes, excellent cuisine, low The golfing tradition in Algarve began at
who are aware of it. Portugal was elected one in and are unanimous in their praise of the crime and, of course, a wide tourist offer. Penina Hotel & Golf Resort (voted Portugal’s
of the three safest countries worldwide, and Portuguese people, who are very welcoming But more than a cost, buying a property in Leading Golf Resort by the World Travel
within the country, Algarve is considered one and friendly. Algarve is an investment. And, possibly, that Awards), with its famous 18-hole Sir Henry
of the most peaceful, both for tourists and is why the market for luxury homes in Algarve Cotton Championship Course, 9-hole Penina
residents. The crime rate is reasonably low, Foreign language fluency is growing, with more and more national Resort, and Penina Academy. Then, the hype
which sharpens the interest of those looking English is everywhere, and Algarve is no and foreign families looking for their dream spread to Pestana Golf Resorts with four
for a calmer pace of life, with direct access to exception — from restaurant menus to street property in this privileged area, where nothing separate but equally fabulous golf courses
the beach and a golf course! signs. In addition, English is widely spoken by is left to chance: privacy, stunning views, (in Silves, Carvoeiro, and Alvor) and Morgado
all people working in the tourism industry and quality finishes, proximity to beaches, and Golf Country Club in Portimão.
Quality of Life by many residents. But English is not the only excellent balance between city accessibility The previously mentioned offers two 18-
Away from the rest of the world, close language spoken in Algarve. Most residents and countryside quietness. hole courses, among other golf courses,
to nature! In Algarve, you will have the can speak at least one foreign language, so providing a wonderful year-round experience
opportunity to work and live surrounded if you decide to visit the region and drive Tax Benefits due to Algarve’s excellent standards and mild
by color and light, in a calm and through some of its major cities, you will also Fewer duties and fewer taxes! Portugal offers climate.
cozy place, suitable for a moment of hear French, Italian, Spanish, and Chinese, the possibility to apply for an appealing
excitement and relaxation. among many other languages. tax regime, with a low tax burden and free
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Prices do not affect the growing interest
in buying permanent housing or vacation
homes in Algarve. On the contrary, they
are synonymous with the profitability of
the investment. In fact, more and more
Portuguese and foreigners are falling
hopelessly in love with this region and
adopting it as their home. British citizens,
for example, were responsible for the
foreign purchase of 56% of the properties
Real Estate in Albufeira/Loulé area in the second
half of 2020. And in a more generalized
in Algarve
scenario, they continue to be the main
clients for houses in Algarve resorts,
with an average ticket of 6,600 euros/m²,
according to data taken from the study
Resorts Market in Portugal by Confidencial
Imobiliária, in partnership with the
Portuguese Association of Resorts.
And it’s not only British citizens who show
interest in the Property Investment in
Algarve. Foreign citizens from Ireland, the
Netherlands, or Germany, among other
countries, have been investing in Algarve
due to the Golden Visa regime and the
Non-Habitual Resident status.
48 49Golden Visa Portugal Engel & Völkers Real Estate
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What are the benefits of
buying a house in Algarve? In which property segments can you
invest in Portugal?
Property investment in Portugal has been
growing since 2013, thanks to small and large
foreign and domestic investors. Investors
who understand that the various possibilities
of property investment (in Portugal) have one
Algarve is one of the best, if not the best How can you find good opportunities for
thing in common: high returns! But of course,
international destination to live: property investment in Portugal?
there are higher and lower risk real estate
Algarve has seen memorable lows in interest The real question is: how can you find a
investment opportunities, and that’s why we
rates in the Eurozone. Property prices are great real estate agency or agent capable of
want to present you some of the real estate
stable in Algarve. Bank credit approval finding you the best real estate investment
segments where you can invest in Portugal:
is faster and easier in Algarve. There is a opportunities in Portugal? Because before
• Invest in a property to live in, with
widespread economic recovery in Algarve. you invest, it is crucial to contact a real
valorization prospects in the short/
In Algarve, there is much momentum in new estate agency capable of guiding you
medium term;
housing construction and rehabilitation of through the process.
• Invest in the rental market to obtain
buildings. There’s also an increase in foreign An expert real estate agency with
greater profitability;
investment in the luxury sector. In Algarve, experience in all the legal and bureaucratic
• Invest in the purchase of apartments and
new trends are emerging in the residential procedures related to buying and selling
houses for rehabilitation to rent them to
and tourist property market, one of which property in Portugal.
liberal professionals, business people,
is the demand (and supply!) for properties However, it is also necessary to choose an
locals, or immigrants;
with outdoor areas and larger indoor areas agency that treats the properties in the region
• Invest in the office and commercial space
close to green zones. There are many real where you want to invest closely. An agency
segment;
estate agents in Algarve. In Algarve, you do that knows the prices and sales conditions
• Invest in the rehabilitation of urban
not run any relevant financial risks (exchange by heart; that knows which are the best deals
spaces.
rate, inflation, interest rates controlled by the within the features that you value, and uses
European Central Bank). In Algarve, you can its extensive contacts to find them. And that’s
apply for a Golden Visa and benefit from a tax not all! To have access to good real estate
reduction under the Non-Habitual Resident investment opportunities in Portugal, your
status. These reasons, among many others, real estate agency must also be aware of the
lead thousands of people to choose Portugal administrative, legal, and financial procedures,
year after year as their preferred location for licenses, energy certificates, contracts, and
purchasing a second home. Many choose deeds, among other items required in the
Algarve for permanent residence, either to process of buying and selling a property. In
enjoy retirement in style or to improve their short, search for a real estate agency like
quality of life. Engel & Völkers Portimão!
50 51Golden Visa Portugal Engel & Völkers Real Estate
The Complete Guide Portimão Portugal 2021
Superb villa near Portimão | Mexilhoeira
Grande
Would you prefer a villa with five bedrooms,
four bathrooms, and four living rooms? We have
the ideal property for you! Besides its beautiful
Examples of properties architectural quality, it has a total surface area of
approximately 305 m² and a plot size of nearly
available for Golden Visa
1,850 m². It has a garage for two cars, a heating
system, air conditioning, swimming pool, terrace,
barbecue, garden with borehole and fruit trees
investment area, and is prepared for elderly or people with
mobility difficulties.
This villa is a high-quality family home, in a quiet
and peaceful environment, so close to the city of
Portimão.
Luxury villa with mountain and river
views | Ferragudo
This modern villa in excellent condition,
Villa with stunning renovation | Portimão
with superb areas and privileged views
over the hills and the Arade river, could be This villa, built in 1951, keeps the original moth
the right bet to get your golden card! On with original tile coating and typical doors but
top of a hill, this luxury property has three was renovated in a modern way in 2020 to
suites, an office, equipped kitchen and welcome you and your family under the Golden
living room with fireplace, air conditioning, Visa program!
a garage for two cars, a swimming pool, a We are speaking of a villa with two floors, three
jacuzzi, a terrace, and a garden with some bedrooms, three bathrooms, a built-in kitchen,
fruit trees. lounge, rear patio. The equipment, furniture,
Location? Ferragudo, very close to the city and decoration were studied for the estate by
of Portimão, and only 5 minutes away from a recognized artist and interior decorator, the
the beach and the nearest golf course! current owner.
In this house, you can live or spend a great
vacation surrounded by the highest comfort of
modern times. Yet, you can admire the “cage
walls,” a construction technique common in
Lisbon after the 1755 earthquake.
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Villa Torrados - Presa de Moura | Estômbar Casa Corsino - Marmelete | Monchique
Are you looking for a timeless home that will This impressive property with over two
become a true family legacy? Villa Torrados hectares of land, two houses, a helicopter
is a brand new mansion located on top of a pad, green surroundings, and stunning views
cliff, immersed in the seaside landscape that is located just 25 minutes from Lagos. The
features many panoramic ocean views. Built in main house was built in 2006 and features
the traditional Portuguese style with the highest generous living areas and plenty of natural
quality standards, this unique home features light. About 50 meters away, the second
five spacious living rooms, four family suites, house, still under construction, promises to
two guest suites, and one more staff suite with be an example of modern and contemporary
independent access. Two large swimming pools architecture. Without a doubt, this is a
(indoor and outdoor), a SPA area, and a cinema property of unique characteristics, in an idyllic
room — this is the result of an elegant and location, suitable for either permanent living,
sophisticated design and is the ideal property restful vacations, or to ensure the profitability
to stay with your family while securing a of the investment.
golden card.
Vila Nostra - Vale da Pinta | Estômbar Penthouse - Praia da Rocha | Portimão
Built in 1999 and recently renovated, This three-bedroom penthouse is
this villa offers total privacy through the undoubtedly the property in Praia da Rocha
extensive gardens surrounding it. Vila Nostra with the most beautiful views in this area,
has four bedrooms in the main house, five and it could be your chance to secure a
bathrooms, and a separate studio near golden card. Located on the 4th floor of a
the pool. With an excellent location, given building with a fabulous swimming pool and
the several beaches and golf courses in just a few steps away from the beach, this
its surroundings, it also stands out for its luxury property stands out for its spacious
proximity to the International School of living room, open to the terrace, which
the Algarve and the water park of Slide & provides fabulous views. The property has a
Splash attractions, which will delight the large and functional kitchen, three bedrooms
younger ones. For lovers of the sea, the with endless views, an office, and a laundry
most beautiful beaches in the Algarve, and room that completes the penthouse. Come
the challenging Golf courses, this is the ideal build your life in this penthouse with a
villa to be close to everything you dream of. dream view!
54 55You can also read
