Can I still apply for the Portugal Golden Visa this year?
Golden Visa Residence Permit
A top level overview on the immigration and tax services covered by our members Sovereign Group.
For more information contact Shelley Wren – email@example.com
Now Brexit is a reality, how can British second home owners stay longer than 90 days in the EU (or Portugal), without moving their tax residence out of the UK?
I am a British resident and I am thinking of moving to Portugal in 2021. Now that the UK is out of Europe, does applying for Portugal’s Golden Visa make sense for me? What other options are there?
It will depend on your individual circumstances. The Portuguese government’s Immigration Service (SEF) explains on its website the benefits of the Golden Visa and also what you need to do to qualify for it.
This is a special programme designed to attract foreign investment into Portugal. The scheme speeds up the process for foreign investors from non-EU countries to get residence in Portugal, if they buy Portuguese real estate or invest up to a certain value. Provided they meet the conditions, under this scheme non-EU citizens will receive a Portuguese residence permit and can later apply for full Portuguese citizenship.
You will have to invest a minimum of 350,000 euros in Portugal under one of the qualifying routes, but in return your Golden Visa will allow you to live and work in Portugal and move freely within the Schengen countries. You will need to be in Portugal 7 days a year. So it may suit you if you are in a hurry to secure your residency in Portugal, have significant business and family interests in Europe and need the freedom to travel around.
If you are planning to move to Portugal to retire, or live permanently there, there are several other visa options available, which do not involve the same investment costs as the Golden Visa.
Non-EU/EFTA nationals moving to Portugal for more than three months will first need a long-term Portuguese residence visa to allow them to later apply for a Portuguese residence permit from the SEF in your area, Usually, a permit (Autorização de Residência) is granted to allow Portuguese residency for one year. This can be renewed every two years for a total of five years. After this, you can also apply for a permanent residence permit.
All non-EU citizens applying for a Portuguese residence permit will need to demonstrate evidence of sufficient funds and accommodation. There are additional documents and requirements, depending on the reason given for requesting a Portuguese residence permit; find details here, as well as details of fees payable. Information on renewing your Portuguese residence permit is available here.
The Portuguese Immigration Service (SEF) deals with all issues relating to residence permits for non-EU/EFTA nationals.
Residents who are from non-EU/EFTA countries can apply for Portuguese permanent residence after having lived in Portugal for five years if they have a valid temporary residence permit and can prove that they have had a legal and uninterrupted residence in Portugal for the five year period.
Foreign residents can apply for full Portuguese citizenship after six years of residence, although exceptions apply; for example, it’s only three years for spouses of Portuguese citizens and considerably easier for children born to at least one Portuguese citizen or a foreign permanent resident holder.
Information supplied on 7 Jan 2021
What other Portugal Golden Visa updates should I be aware of?
From early 2021, investors going through the Golden Visa scheme will unlikely be able to buy property in urban areas like Lisbon and Porto. Note that these changes to the program wouldn’t apply to the other investment routes of the Golden Visa Program.
And now for the good news! The government passed a new law recognizing birthright citizenship. This is fantastic news for applicants who’ve gone through the Portugal Golden Visa Program. Provided one of the parents has held the Golden Visa for at least a year, a child born in Portugal will be eligible for Portuguese citizenship — even if the respective parent has only fulfilled the minimum seven-day physical presence requirement.
Answer supplied on 20th November 2020 by Chamber members Global Citizen Solutions (firstname.lastname@example.org)