Portugal Golden Visa - FAQ

PORTUGAL GOLDEN VISA - FAQ's

How much does the Portugal Golden Visa cost?

Portugal’s Golden Visa programme has several investment categories. The original Golden Visa legislation requires investors to purchase any type of real estate for a minimum of €500,000 or above. Later, the government introduced some lower cost routes from €280,000, plus fees. Projects at this investment threshold must be located in a “low population density” area. It is also possible to invest in certain properties at €350,000, providing the project is undergoing renovation and the building is over 30 years old. The legislation is set to change in 2022. Visit this link to find out more on the various golden visa investment categories.

What family members can I include in my Portuguese Golden Visa Application?

The main investor applying for Portugal’s Golden Visa programme can include:

• A spouse or partner;
• Children under 18 years old;
• Dependent children over 18 years old, as long as they are unmarried and enrolled in full-time education;
• Dependent parents of either spouse or partner, over 55 years old. No need to provide evidence of dependency if they are over 65 years old;
• Siblings under 18 years old of either spouse or partner if legally under their supervision.

Can I include children over 18 years old?

Children over the age of 18 years old can be included, however, they must remain dependent for each year until citizenship is achieved. There is no official age limit for dependent children, but we would advise no older than around 22 or 23 years as they need to remain dependent for the five to six year period following. In reality, it can be much harder to prove a 28 or 30 year old is still dependent, unmarried and in full time education, although it is possible.

Do I have to take a Portuguese language test?

For the initial Golden Visa residency application, there is no language test required. The language test is only applicable when applying for Citizenship, so applicants have 5-6 years to prepare for this step. Anyone under the age of 10 years old does not need to take the language test. The language test is an A2 level (conversational level) and most of the test is  in a multiple choice format.

Do I have to pay tax in Portugal?

Unless you reside in Portugal for 183 days of the year or more, you will not be taxed on your worldwide income. As a non tax resident, you only need to pay tax in Portugal if you earn any income in Portugal, for example, a rental return from your property. Income tax is charged at 28.5% and our legal team will be able to assist you with any tax matters.

Can I purchase the property through my company?

This is a possibility, however, it will make the process slightly more complex. Investors would need to incorporate their company in Portugal and personally be the sole owner. They will also need to set up a company bank account in Portugal. This can take longer than doing it on an individual basis. When the funds are transferred from a company it is very important to justify why and provide clear evidence of the origin of funds. (i.e company dividends or another legal justification).

It is also important to consider that if you have set up your company in Portugal, you will also need to file an annual company tax return in Portugal each year.

Can I purchase land and build on it under the Golden Visa Programme?

Whilst it is possible to purchase land and build your own property to qualify for the Golden visa, it is incredibly difficult to do so due to the licenses and approvals you need to obtain. Any renovation work you undertake will also need to meet the Golden visa legislation to qualify. This type of project would also be hard to manage from abroad, particularly if you do not speak Portuguese. We recommend investing in an approved project where the entire renovation process will be managed on your behalf by an experienced developer, and you will not need to worry about these challenges.

Do I get access to free healthcare in Portugal?

As a Portuguese resident, you can gain access to Portugal’s national health service (SNS), providing you are a fiscal resident.

However, as part of the Golden Visa application process, you must provide evidence of a private health insurance policy in order to be granted the residency visa. Price can vary depending on the individual’s health and any pre-existing conditions. If you are not residing in Portugal full time, as many Golden Visa holders will not be, we would advise continuing with a private healthcare policy.

Can I apply for a Golden Visa through a fund?

Yes, you can. There is a fund investment route available starting from €350,000. However, it is important to weigh up the pros and cons versus the typical real estate investment route.

In 2020 fund investors made up just 48 of the total 1182 approved for the Golden Visa. The figures are similar for 2021 so far. The low uptake means many funds could end up being undersubscribed and this comes with more risk. Please see this article for a full explanation.

The fund option is also expected to increase from €350,000 to €500,000 come January 2022.

Can unmarried or same-sex couples apply for Portugal's Golden Visa programme

If you are cohabiting with a long term partner, sometimes referred to as a ”common-law partner”, it is possible to apply for most of the European Golden Visa programmes under one joint application. In Portugal, unmarried couples who have been residing together for a minimum of 2 years are eligible to apply together, providing they can supply evidence of their relationship. Official documents confirming they share an address, have joint assets or evidence that they have children together would be sufficient to support the case. It is also possible for same-sex couples to apply together under the same application. More info on our website here.

How many applicants have been approved for Portugal's Golden Visa programme

Since Portugal introduced their Golden Visa programme in 2012, close to 9,000 main investors have now been approved for Portuguese residency, with over 15,000 family members also being accepted. The total revenue generated by the programme is now over €5 Billion.

Is Portugal's Golden Visa programme open to all nationalities?

The Golden Visa programme in Portugal is open to all non-EU Citizens. This now also includes British citizens, following Brexit. There are no non-EU citizens that are prohibited from applying, however, certain nationalities such as Iranian citizens may find it difficult to open a Portuguese bank account, due to the EU’s banking compliance process. This is not to say it is not possible. If you have any concerns, please contact La Vida’s experts for more advice.

What happens if my Golden Visa application is rejected?

In theory, the only reason an application would be rejected is if an applicant has a criminal record, has been dishonest on the application, or has not fulfilled the minimum investment requirements. It is a document-driven process and La Vida’s advisors and legal partners will work closely with you throughout the process to compile your file to ensure your application is successfully approved.