Portugal Citizenship By Investment For Citizens Of Bangladesh

Creation of Jobs 

This investment option involves setting up a business in Portugal with a value of at least €500,000, and that will generate a minimum of 10 new full-time jobs.

You can set up a business in Portugal in any industry to qualify for the Golden Visa. For instance, you could launch a restaurant or an agribusiness in Portugal.

If the business you intend to start is situated in a low-density area (an area having less than 100 residents per square kilometre or a GDP per capita below 75% of the national average), the job creation requirement is reduced to eight positions.

Investing in Commercial Companies

Another option is to invest a minimum of €500,000 to establish a commercial company headquartered in Portugal or increase the share capital of an existing Portuguese business. The commercial company must create at least five new full-time jobs for at least three years.

Some suitable examples include investing in a tech startup to fuel the expansion of the business or establishing a manufacturing enterprise to create innovative products.

Venture Capital Fund Investment

This option allows you to invest a minimum of €500,000 through capital transfers to eligible private equities, venture capital funds, or government bonds.

These funds should provide capital to companies meeting specific criteria. Most importantly, these investments must not be linked to real estate ventures.

Contributing to Scientific Research

If you love scientific research, you can invest €500,000 or more in research activities conducted by a public or private scientific research institution. The national scientific or technological system of Portugal must accredit this institution.

Preserving Culture and Art

Another way to qualify for the Golden Visa is to make a non-refundable charitable contribution of €250,000 or more to support an artistic production or to preserve or recover Portugal’s cultural heritage.

Examples of acceptable investments under this option include financially supporting a Portuguese art gallery or museum or contributing to the restoration of a historic monument in Portugal.

Diverse and Affordable Investment Opportunities

The Golden Visa program allows you to choose from various investment avenues, such as setting up a business, scientific research, or cultural projects, depending on your preferences and goals.

Additionally, it stands out as one of the most cost-effective investment visas within the EU, with investment options as low as €250,000. It is also affordable compared to similar programs worldwide.

Enjoy Residency Rights

The Golden Visa grants you and your dependent family members the right to live, work, and study in Portugal. You will have access to Portugal’s education system, including public and private schools up to the tertiary level.

You can also access Portugal ‘s healthcare system, known as the Serviço Nacional de Saúde (SNS).

Access to the Schengen Area

Golden Visa holders can freely travel within the Schengen Area, comprising 27 European countries, making vacations and business travel convenient and hassle-free.

Flexible Residency Requirements

Another noteworthy advantage of the program lies in its lenient residency criteria. The Portugal Golden Visa only requires a minimum stay of 7 days during the first year and 14 days in subsequent two-year periods.

Pathway to Permanent Residency or Citizenship 

After five years of residency on the Golden Visa, you will become eligible to apply for permanent residency and Portuguese citizenship. This opens doors to full European Union citizenship and all its associated privileges.

Favourable Tax Regime

Portugal offers an appealing tax environment for Golden Visa beneficiaries. You will only face tax obligations if you spend over 183 days per year in Portugal.

When you become a taxable resident, the Non-Habitual Residency (NHR) program provides you with significant benefits, including tax exemptions on foreign income for the first ten years of residence. This encompasses income sources from rental income, dividends, and investments.

Overview

You must meet specific criteria to apply for the Portuguese Golden Visa investment program, and these include.

• Be at least 18 years old.
• Possess a clear criminal record in both Portugal and your country of origin.
• Have a Portuguese tax number
• Have a Portuguese bank account number
• Invest in one of the qualified investment schemes
• Demonstrate that the investment funds originate from sources outside Portugal.
• Commit to retaining the investment funds for a minimum of five years.

Before submitting your application, you must have met the minimum investment requirements for your chosen category. Also, the funds you intend to invest must be rightfully yours.

While you must keep the investment for at least five additional years or as long as you hold national residency status in Portugal, you will no longer be obligated to maintain your investment once you attain permanent residency or citizenship.

The Residency Requirement for the Portuguese Golden Visa

After obtaining the Golden Visa, there is a residency requirement that you must adhere to to ensure the continued validity of your Portugal Golden Visa.

Under this requirement, you must spend a certain number of days in Portugal each year. A  minimum of 7 days in Portugal is mandatory during the first year. Afterward, you must spend at least 14 days in Portugal every two years.

Decide on Your Investment

The first crucial step in obtaining Portuguese citizenship through the Golden Visa program is to decide on your investment path. You have several options, and your investment choice should align with your financial capabilities, goals, and interests.

It’s essential to carefully assess these options to make the right choice. Consider discussing with an immigration lawyer before making a decision. To speak with one of our immigration lawyers at Total Law, call us at +44 (0)333 305 9375.

Get the NIF Number

After deciding on your investment choice, obtain a Portuguese tax identification number (Número de Identificação Fiscal or NIF).

This unique identifier is a fundamental requirement for many financial transactions and official procedures in Portugal. You will need the NIF to open a bank account to make your investment and to carry out other essential activities once you begin living in Portugal.

You can only apply for the tax number physically in one of the tax offices in Portugal. However, you will need the NIF to apply for the visa. As such, to get the NIF from Bangladesh, you can hire a legal representative to act as your proxy in Portugal.

Your representative will visit the tax office on your behalf and make the application. They must bring the following documents to support your application:

• Your valid identification card or passport
• A bank statement not more than three months old showing proof of your non-Portuguese address
• A document assigning power of attorney to your legal representative.

The application process only takes a few minutes and is free, but you must pay for the Portuguese tax card, which you will receive later.

Open a Bank Account

Your legal representative can also help you open a bank account in Portugal. Otherwise, you can find a Portuguese bank that offers online bank account opening services and open an account with them.

You will need the NIF number to open your bank account, as well as other documents, including the following:

• A valid passport
• Proof of address in your country of residence, with a rental agreement or utility bill
• A starting deposit for the account (this varies depending on the bank you choose)
• Proof of income or employment with recent payslip or employment contract.

Your bank account should be open within a few days.

Make the Investment

Once you’ve opened your Portuguese bank account, you must transfer the funds for the investment there. You will make the qualifying investment from this bank account, which is the next crucial step.

Ensure that the investment you make is in line with the Portugal Golden Visa program’s requirements.

Gather Your Documents for the Golden Visa Application

Collect the necessary documents required for the Portuguese Golden Visa application. These documents include the following:

• The visa application form
• A copy of your valid passport
• Two-passport seized photographs
• Proof of healthcare coverage
• Proof of clean criminal records issued within the last three months from any country you have lived in the last year.
• A sworn declaration that confirms that you will maintain your investment for a minimum of five years.
• Proof of payment of the application processing fee
• A duly completed form authorising the Portuguese Immigration and Border Service (SEF) to verify your criminal history.

In addition to the general requirements above, you must submit specific documents proving that you invested in the following ways:

• Creation of jobs
  • If you hold shares in a company contributing to job creation, include an extract from the company register.
  • Provide individual employment contracts between you and the employees
  • Provide a statement from the bank showing that you have invested.

• Investment in research activities

• • Provide a declaration from a recognized public or private scientific research institution certifying your commitment to supporting and investing in research initiatives.
  • A statement from the bank showing you have made the investment

• Investment in arts

• • Provide a declaration from the Portuguese Strategy, Planning, and Cultural Assessment Office confirming that your investment actively contributes to Portugal’s arts or cultural heritage initiatives.
  • Provide proof from the bank confirming you have invested.

Get the Application Form and Submit an Application

When applying from Bangladesh, visit the online website of the Portuguese Embassy or consulate to download the application form.

The following embassies and consulates are responsible for handling Portuguese visa applications and consular services for Bangladesh citizens:

• Embassy of the Republic of France in Dhaka
• Honorary Consulate of Portugal in Bangladesh
• Embassy of Portugal in New Delhi, India

Complete the application form and submit it with your supporting documents at the embassy or consulate. You will be required to pay the visa application fee.

Get a Decision

After the consular officers thoroughly review your application, you will receive a decision regarding your eligibility for the Golden Visa program. The visa application process usually takes up to 10 months, depending on the volume of applications at the consular office.

If your application is approved, you will be granted the Golden Visa, valid for four months.

Travel to Portugal

When you arrive, you should apply for a residence permit with Portugal’s Immigration and Borders Service (SEF). You should travel to Portugal and apply for the permit within four months.

As part of the application process, submit all documents you used during the visa application. You will also submit your biometrics and pay the residence permit fee.

It only takes a couple of weeks to process the residence permit, and it is valid for an initial two-year period. You can apply for an extension when it expires with an additional three years duration.

Apply for Citizenship by Naturalisation

After holding the Golden Visa for five years, you can apply for Portuguese citizenship by naturalisation.

You must have spent at least 35 days in Portugal over the last five years and passed the Portuguese language test.

To begin the application, you should visit SEF (Serviço de Estrangeiros e Fronteiras) and provide the following documents:

• Birth certificate
• Evidence that you have maintained your investment for five years
• Proof of no criminal record
• Portuguese residence permit card
• Certificate of the Centro de Avaliação de Português Língua Estrangeira (CIPLE) language test showing that you can speak Portuguese up to an A2 level on the Common European Framework of Reference for Languages (CEFR) scale.