Most people have many options when they want to move to another country, including different visa categories, PR, and citizenships. One of the most popular and enticing ones is the Residence by investment program offered by various countries, including Portugal. Also known as the Portuguese golden visa, this one is one of the most sought-after and popular ones out there. This visa option is highly attractive due to the appeal of living in an EU country with an EU passport, a variety of investment options, and, most importantly, the ease of the process.
Processing time and visa duration
One of the most important aspects to consider when applying for a golden visa in Portugal is the visa duration and processing time.
When you apply for the Portugal Golden Visa, a residence permit is issued to you, valid for one year. Post the first year; you can reapply and receive a two-year residence permit. Your residence permit can be renewed every two years, and after five years, you can apply for a permanent residence permit.
The processing time is also a mere 6 months, shorter than most countries offering similar visa programs.
Eligibility criteria should be known to each and every applicant before applying for the golden visa to make sure that there is no problem after you have applied. Here are all the eligibility criteria one would need to fulfill if he/she wishes to apply for the golden visa in Portugal.
- The age of the applicant must be above 18 years.
- The applicant should make some kind of investment which should be inclined towards the benefit of the economy.
- The applicant should not have any criminal history.
- The applicant should own the money that the applicant is investing in the Portugal economy.
- There should be a commitment made by the applicant to invest for at least another 5 years.
These eligibility criteria are permanent if you wish to have a golden visa from Portugal.
Healthcare and education
As residents or citizens, you and your family will have access to all of Portugal’s public services, including healthcare and education. Portugal’s Serviço Nacional de Sade is a publicly sponsored healthcare system (SNS). As a result, Portugal was placed third for patient care and medical infrastructure in the World Index of Healthcare Innovation for 2021.
All levels of public education in Portugal, from elementary school to university, are of a generally high caliber. Portugal has a 99.44 percent literacy rate, and its children consistently do better than average on PISA exams.
Get a Portugal passport in 5 years-
You can apply for a Portuguese passport only five years after investing. So even though it takes time, five years comes out to be a shorter period to become an EU citizen, especially when you consider how lax the residency requirements are.
You can live, work, and invest anywhere in the European Union if you have a Portuguese passport. In addition, the Portugal Golden Visa allows you to visit more than 150 nations that are also accessible without a visa.
Steps for applying
Last but most prior, the first stage of getting your Portugal golden visa. Here are the steps that you can use if you wish to get the Golden Visa for Portugal:
Step 1– Visit Portugal first; plan a vacation to Portugal beforehand so you can assess your alternatives and begin the investment process.
Step 2– Set up a Portugal bank account. A Portuguese tax identification number and bank account are required before you can complete your investment.
Step 3– Finalize your investment. You can finally complete your investment once you have established your bank account and tax identification number.
Step 4– Now apply for the Golden Visa for Portugal.
Step 5– Get your Portuguese resident permit.
Portugal’s golden Visa is a great choice if you are planning to relocate internationally. You also get the right to live and work in Portugal, a fast-paced growth-focused economy, and anywhere else in the EU. Other big lifestyle benefits include the favorable taxation setup and free travel to anywhere in the EU Schengen visa zone. If applicable, you can also declare yourself a non-habitual resident and pay very little tax for up to 10 years. Since you can also add a family member to your application and there are options for family reunification, your family can also enjoy the same benefits in no time.