The Portugal Golden Visa Requirements Explained
The Portugal Golden Visa offers several benefits, including visa-free travel and a path to EU citizenship. To access these benefits, applicants must first meet specific criteria.
This article is part of our Complete Guide to the Portugal Golden Visa. In this guide, we focus on the Portugal Golden Visa requirements. Whether you're an investor from the US, the UK, or another non-EU country, this guide will help you navigate the process smoothly.
Who is Eligible for a Portugal Golden Visa?
Before applying, you must meet Portugal’s basic residency requirements for the golden visa program. These include:
- Your nationality: only non-EU/EEA/Swiss nationals can apply for the Golden Visa in Portugal.
- Minimum age: you must be over the age of 18 to apply.
- Criminal record: you must have a clean criminal record.
- Health insurance: you need health insurance if you plan on living in Portugal full-time.
Applicants can include family members in their application. The following family members are eligible:
- Spouse
- Children under 18
- Children under 18 (or financially dependent adult children under the age of 26 in full-time education and unmarried)
- Dependent parents (over 65 or financially reliant on the applicant)
You may need to provide additional documents, such as birth and marriage certificates.
The Portugal Golden Visa for US Citizens
US citizens can apply for a Portugal Golden Visa. In fact, the program is growing in popularity among American investors.
According to AIMA’s Migration and Asylum report, nearly 20% of the golden visas issued in Portugal went to US investors. The number of people moving to Portugal from the US has also increased in recent years.
In 2022, just over 14,000 Americans were living in Portugal. By 2023, that number rose to over 20,000 — a 38.5% increase.
A golden visa in Portugal offers several benefits for US citizens. These include:
- Lower cost of living (compared to major US cities)
- Reduced healthcare costs
- Lower crime rates
- Potential tax incentives and benefits
The United States and Portugal have a Double Tax Agreement (DTA). A DTA prevents you from being taxed on the same income twice. However, you must comply with the tax rules of both countries.
Cross-border tax rules can be complex. Always consult an expert to ensure compliance.
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The Portugal Golden Visa for UK Citizens
UK citizens were previously unable to apply for a golden visa in Portugal. However, British citizens can apply now the UK has left the EU.
Statistics from AIMA show the United Kingdom (UK) had the third-largest number of golden visa residency permits issued in 2023. The UK also has one of the largest expat populations in Portugal. There are over 47,000 UK citizens living in the country.
The Portugal Golden Visa is a great option for UK citizens looking to regain European mobility. The scheme also provides a path to becoming an EU citizen after five years.
Working with Holborn
We have helped over
1000+
families to gain citizenship or residency
Over
$300 million
invested in CBI programmes through us
More than
$450 million
of property assets purchased in the last three years
We have helped over
40
client nationalities secure a golden visa
1000+
Families helped to gain citizenship/residency
$300 million
Amount we have invested in CBI programmes
$450 million
Value of property assets purchased in the last three years
40+
Client nationalities we have helped secure a golden visa
Investment Requirements for the Portugal Golden Visa
Now that we have covered general Portugal Golden Visa eligibility, let’s look at the program’s key component — the investment.
To qualify for the Portugal Golden Visa, applicants must make one of the following approved investments:
Investment Fund Option
- Minimum investment: €500,000 — there are financing options to reduce this amount
- Eligible funds must be regulated and focused on Portuguese businesses
Related article: A Guide to Portugal Golden Visa Investment Funds.
Business and Job Creation
For business and job creation, there are two options:
- Establish a business that creates at least 10 jobs in Portugal
- Invest a minimum of €500,000 in an existing Portuguese company that must then maintain at least 10 jobs for a period of 3 years
Scientific Research & Cultural Capital Transfers
There are two capital transfer options:
- €500,000 for science and research
- €250,000 for cultural heritage or artistic projects
You must hold your golden visa investments for five years to keep your residence card. After five years, you can apply to become a permanent resident or a citizen. At this point, you no longer need to maintain your investment.
Investors should fully understand each investment route. Our article covers the Portugal Golden Visa investment options in more detail.
Residency and Stay Requirements
The minimum stay requirements for the Portugal Golden Visa are lower than those for other residency by investment schemes.
Meeting the minimum stay requirement is essential to maintaining residency rights. You must spend an average of seven days per year in the country over five years.
The residency requirements for Portugal are as follows:
- Year 1: seven days
- Year 2-3: 14 days within that two-year window
- Year 4-5: 14 days within that two-year window
Over five years, this amounts to a total of 35 days you must spend in Portugal to maintain your golden visa.
Renewing the Golden Visa
Your first residence permit, issued when you get your golden visa, is usually valid for two years. After this, you will need to renew your permit. Subsequent renewals after that are either valid for two or three years.
The initial golden visa process and the renewal process are similar. You must submit the relevant documents and provide biometrics. You should submit your renewal 30-90 days before your residency card expires.
You can renew a golden visa by visiting the AIMA website. Working with an expert is advised.
Documents needed for the Portugal Golden Visa
To apply for Portugal’s Golden Visa program, you will need to provide several documents throughout the process. You must submit documents for the initial application and each renewal.
The documents you need can change depending on several factors, such as your investment route. The typical documents you will need to provide include:
- A valid passport
- Evidence of your qualifying investment
- Proof of transfer of funds from a bank in Portugal
- A clean criminal record certificate from your home country
- Proof of health insurance for Portugal — this only applies if you plan on living in Portugal
- A signed declaration stating that you will meet the minimum investment requirements for five years
- Documents that show you are in good standing with the Social Security system and Portuguese Tax Authority (PTA)
- A receipt for the application processing fee payment
- Birth certificates for all people included on the application
- Marriage certificates for spouse (if applicable)
Be aware that any document not in Portuguese needs to be translated. You must legalise any documents issued by a non-Portuguese entity.
Getting a Tax ID Number
A tax ID number, or NIF, is needed to buy goods and services and enter into contracts. A NIF is also required when opening a bank account in Portugal.
You will also need a NIF if you plan on living in Portugal for most of the year. Spending 183 days or more in the country each year classes you as a tax resident in Portugal.
For more information on requesting an NIF as a foreign citizen, visit the Portuguese government website.
Open a Bank Account in Portugal
One of the requirements for the golden visa in Portugal is all investments must be made from a local bank account. This means you will need to open a bank account in Portugal. Our experts can assist you in setting one up.
Summary
Understanding the requirements for the Portugal Golden Visa is essential. Some of the key criteria for the program are:
- Must be a non-EU/EEA/Swiss citizen
- Over the age of 18 and have a clean criminal record
- Meet the minimum investment amount based on your chosen route
- Spend an average of seven days per year in Portugal over five years
If you are ready to start your golden visa journey or have any questions, our team can help.
Holborn Pass is a market leader in the Portugal Golden Visa. We take a hands-on approach, working closely with clients throughout the process. Holborn is also uniquely placed in the market.
Holborn Pass is part of the Holborn Assets Group, a multi-award-winning global financial service provider. Clients have access to the financial expertise needed to assist with the investment portion of the process.
Book a free consultation with one of our professional advisers and get the expert guidance you need.