Table Of Contents
- What You Need To Know About Nationality and Citizenship By Investment in Portugal
- Citizenship: The Golden Visa Explained
- Requirements For The Portuguese Visa
- For How Long Is The Portuguese Golden Visa Valid?
- Portuguese Citizenship and Nationality Timeline
- Prerequisites For The Citizenship Program
- The Benefits Of The Portuguese Citizenship Program
- The Portuguese Immigration Investor Program And Provisions For Family
- Schengen Visa
- In Summary
What You Need To Know About Nationality and Citizenship By Investment in Portugal
Citizenship: The Golden Visa Explained
The chance to discover the world as a Portuguese citizen.
The Portuguese speaking nation made a modification to its existing law which resulted in a fast track process that allows foreign investors to obtain Portuguese citizenship through their citizenship by investment program.
The Hungary citizenship by investment program may be the perfect choice for you. Learn why.
Drawing Investment Into Portugal
The program is meant to ease the process and draw investment into Portugal to benefit it’s citizens.
The Portuguese citizenship program offers many attractions to wealthy foreign investors, but it does not guarantee immediate Portuguese citizenship. Nationality and residency requirements must be met but a passport will be issued after six years.
No requirement to reside officially and legally in the country even after a residence permit has been issued and Portuguese citizenship granted.
The Portuguese real estate immigration program attracts foreign investors, granting them Portuguese citizenship after buying real estate property worth €500,000 in the Portuguese country.
Appealing to Foreign Investors
The program is very appealing to foreign investors because it has all provisions that could grant Portuguese citizenship after 6 years. Applicant’s family and children under 18 years also qualify for the residency and nationality in the country.
There are also many other European citizenship options. Make sure you are well informed!
The fact that you only need to spend 7 days of your first year and 14 days of the second year makes it easier for you to manage your business in your current home of residence or spend time with your loved ones.
Once you have been issued the residence permit you are on your way to Portuguese citizenship, you can enter and leave any country in the EU without applying for nationality. Taxes don’t apply, unless you stay in the country for more than 180 days.
Since the residence scheme began in 2012, the government of Portugal says it has issued 734 so-called “Golden Visas” which has generated more than 440m euros with much positive response to the Portuguese citizenship idea.
Not all of that has come from property sales though, because foreign investors can also get residency and Portuguese citizenship by investing a million euros in capital or creating 10 jobs in Portugal.
Research has shown that the majority of these investors are from China and the program is becoming increasingly popular among investors worldwide looking for Portuguese citizenship.
Requirements For The Portuguese Visa
What types of investments are allowed under the rules? What are the requirements? The program was recently widened to include further types of investment that would also qualify for Portuguese citizenship.
As a result, the following types of investment now qualify for the program:
- Acquisition of property above € 500,000;
- Acquisition of property above € 350,000 – for properties more than 30 years old or located in areas of urban renovation.
- Transfer of Funds above € 1,000,000;
- Transfer of Funds above € 350,000 for research activities;
- Transfer of Funds above € 250,000 for artistic or cultural activities;
- Transfer of Funds above € 500,000 for capitalization of small and medium size companies.
- Creation of a minimum of 10 jobs;
However please note that this only applies to investments effectively made after 8th October 2012 for Portuguese citizenship.
For How Long Is The Portuguese Golden Visa Valid?
Once issued, it will be valid for an initial period of 1 (one) year and then will be renewed for subsequent periods of 2 (two) years.
Portuguese Citizenship and Nationality Timeline
In terms of the general law, visa holders qualify for Portuguese citizenship and nationality after the holder has successively renewed the residence permit for a total of five years.
The visa is renewed three times prior to citizenship:
- One year (initial permit)
- Two years (first renewal)
- Two years (second renewal)
After the fifth year the permit holder may apply for Portuguese citizenship and a passport, which will give the holder all the rights of a EU national including free movement in all the EU member states, including the United Kingdom and Ireland.
Prerequisites For The Citizenship Program
The simplicity of the Portuguese citizenship program implies an extremely reduced number of requirements being asked from the investor.
The Portuguese citizenship by investment program however has some general requirements that the potential investor must comply with.
The following are the general Portuguese citizenship requirements.
- Keep the investment for a minimum period of 5 years
- Funds for investment should come from abroad
- Entry in Portugal with a valid Schengen visa
- Absence of references in the Portuguese Citizenship Immigration and the Schengen services
- Absence of conviction of relevant crime
- Minimum stay in Portugal: 7 (seven) days during the first year and 14 (fourteen) days during each subsequent period of two years
The Benefits Of The Portuguese Citizenship Program
The Portuguese Immigration Investor Program And Provisions For Family
Remarkably, those who acquire nationality have the right to family regrouping, and receive permanent residence permit, as well as to Portuguese citizenship as stipulated by law.
Family regrouping refers to the process by which the family and dependents of the resident or citizen both qualify for residence and later Portuguese citizenship.
This extends to:
- The spouse
- Minor children
- Adult children who are dependents
- Minor siblings in the custody of permit holder will also qualify for Portuguese citizenship
Portuguese citizenship gives the investor the right to travel freely throughout the 26 member states.
The Schengen Treaty was signed on 14 June 1985 and this resulted in the creation of an area that is legally considered an individual state for international travel, with external border controls for travelers visiting the area but with no internal border controls.
If you have plans to get a Bulgarian passport you have to check our detailed guide! Don’t miss it!
The Schengen citizenship area includes all citizens from 26 European countries, namely: Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden and Switzerland.
Make sure you read our article on a second passport. What You Must Know!
What Is the Golden Visa?
We’ve looked at the Golden Visa, what it is, and what the requirements are (including property investment, capital investment and job creation) paving the way for Portuguese citizenship.
We’ve looked at the timeline for nationality and citizenship as well as the prerequisites for the program.
What Is The Timeline And Are The Benefits?
There are many benefits to the Portuguese citizenship program including visa-free travel throughout Europe as well as extended provisions for family members.