The Portugal Golden Visa Program is a residency by investment scheme. The program is quite popular among investors. One of the reasons is the wide array of available investment methods. The most demanded option within the program is the main real estate investment option. This route requires a minimum investment of 500,000 EUR. Yet, recent years saw increased interest in alternative routes.
The Portugal Golden Visa Program Investment Routes
The Portugal Golden Visa Program has several routes. According to their needs and priorities, investors may choose the most fitting option. All options, provided that the applicants comply with all the rules, potentially lead to permanent residency, and citizenship.
- The main route of investment is the 500,000 EUR option. To benefit from this option, investors must buy a property valued at least 500,000 EUR. This is not the only real estate investment option of the program. Investors may also choose the 350,000 EUR option. In this option, the property must be older than 30 years and/or in need of renovation. Finally, there is the 280,000 EUR option. This alternative requires investors to purchase a property from designated “low-density areas.”
- One alternative route is to create jobs in Portugal. To use this route, investors must create ten permanent jobs as an investment.
- Funding scientific research projects in Portugal is another option. To select this route, applicants must invest at least 350,000 EUR into a designated project.
- Investment funds of Portugal also offer good opportunities to investors. Many sectors provide these funds. Investors may select among several options. To follow this option, applicants must invest at least 350,000 EUR.
- The last alternative within the program is the cultural and artistic project’s investment. Investors may fund these projects in Portugal to obtain residency. Applicants who choose this option must invest at least 250,000 EUR.
The EUR 350,000 Option of the Portugal Golden Visa Program
The 350,000 EUR option is among the rising routes. This one also refers to real estate investments. The minimum investment requirement for this path is 30% cheaper than the main option. If investors want to cut costs through the process, this more affordable route might be a good fit.
Standard Requirements for the Portugal Golden Visa Program
The Portugal Golden Visa Program has several requirements. These requirements do not change based on the investment route. Here is the list of the conditions.
- The money invested in the scheme must come from outside Portugal.
- The investors must have a clean criminal record.
- The investors must have a clean record with the Portuguese Immigration and Borders Service. (SEF)
- The investors must spend at least seven days in Portugal in the first year of investment. After, the minimum residence requirement is 14 days per two years.
- The investors must keep the investment for at least five years. Otherwise, they cannot apply for permanent residency or citizenship.
Requirements for the 350,000 EUR Option of the Portugal Golden Visa Program
Like other routes, the 350,000 EUR option has requirements. Luckily, these requirements are not grueling. Here is the list of the conditions.
- The property must be in specific areas designated by the authorities. Not all properties in Portugal are eligible for this option. These areas are called urban rehabilitation areas. Many locations in Portugal have available options including Lisbon.
- The property must be older than 30 years and/or in need of restoration.
- The total expense channeled towards the property must exceed 350,000 EUR.
- The investors must submit the documents stating that the purchase is complete. Also, they must prove that they did or will carry out the refurbishment work. Finally, investors must deposit the remaining amount (if any) in their Portuguese bank account.
How Important is Legal Support During the Application Process?
The Portugal Golden Visa Program is relatively simple. Yet, like any legal transaction, it involves a lot of formal paperwork. Any decision investors make is at their own risk. It is recommended to take professional help at every stage. When large sums of investments are involved, it is smart to leave formalities to professionals.
A solicitor may also cut costs for the investors. Any mistake along the way is likely to cost some money. An experienced legal counsellor eliminates potential dangers and saves money, time, and effort.
Lastly, the stress of the process may be tiresome for busy individuals. A legal consultant takes this load off the applicants. For a comfortable application process, it is advisable to hire a professional.
Eligible Property Types for the 350,000 EUR Option of the Portugal Golden Visa Program
Apart from the requirements listed above, there are no limits about the type of properties eligible for the 350,000 EUR option. Investors may choose townhouses or flats. The purchase might be for commercial or residential use. Purchasing for rental yields is also an option.
Which Districts of Portugal are Best for the 350,000 EUR Option?
Portugal has regions for all tastes. Investors should choose the best option for their needs. The only difficulty at this stage would probably be to eliminate so many good options.
The capital of Portugal, Lisbon, is a great choice. It is alive, vibrant, and culturally rich. Lisbon has a large expat community. Also, almost everyone in the city speaks English well. The city is a business hub. Its airport connects Lisbon to all the major cities around the world.
Another big city in Portugal is Porto. Porto is a historic town with amazing cuisine. Districts like Tomar and Coimbra is popular.
If the aim is to get away from the city, the Algarve is the perfect option. An expat hotspot, the Algarve region is the luxurious center of Portugal.