What is a golden visa in Portugal and how does it work?

There are many different types of visas in Portugal, and it can be kind of difficult to wrap your head around them. There’s the type 1, D7, and the golden visa, as well as many others. But what is the golden visa, and how can you get it? We’re here with a short overview of the most basic information on the golden visa in Portugal.

What is the golden visa?

The golden visa is a special kind of residence program. If you arrive in Portugal with an American passport, you don’t need any visa whatsoever. You can remain for up to 90 days every 180 days. But if you want to stay for longer than that, you must have a residence visa. They come in many types, like work, study, retirement, and golden visas, each for different purposes and each requiring you to produce additional documentation.

The golden visa is made specifically for business people, investors, and real estate buyers. This visa will give you many advantages. It will automatically include your spouse and any children under 18 who may have dependent full-time students under 26. You will be able to travel to other countries in the Schengen area (most of the EU) for up to 90 days without needing another visa. And most importantly, you will get access to Portugal’s healthcare and education systems.

Since the focus of this visa are people who do business, its requirements are likewise primarily focused on money and property acquisition. One way you can get a golden visa is through the direct transfer of capital. This includes a transfer of a minimum of €1 million into a Portuguese bank, a donation of €350 000 to research purposes (they can be both public and private as long as they are part of the national scientific and technological system), donating the same amount to artistic endeavours in Portugal, or by investing the same amount into investment funds (the investment needs maturity of at least five years and at least 60% of the investment portfolio have to be companies whose head offices are in Portugal, among other things).

But direct investment isn’t the only way to get the golden visa. You can also get it by acquiring property for at least €500 000. This figure is lowered to €350 000 if the property is in some form of urban regeneration project or if there will be extensive renovations. However, from July 2021, the Portuguese government will not give out golden visas to investors who have purchased properties in metropolitan coastal cities such as Lisbon or the southern region of Algarve.

The government is hoping to encourage property acquisition outside of these regions. The last way to apply for a golden visa is by running a business. The most direct way is to create at least ten jobs in Portugal. The second is a bit more indirect, through the investment in a share of a publicly traded Portuguese company that has employed at least five people for at least three years. There is also the option of investing at least €1 million into a Portuguese company, opening up the door to the golden visa for you. Overall, there are many ways to be a proud owner of a golden visa and many advantages that come from having it.