Portugal Golden Visa for Citizens of Bangladesh

Pathway to EU Permanent Residence and Citizenship

Before applying for the golden visa, you must have made investments in Portugal. You are required to maintain this investment over a period of 5 years. At the end of the 5 years, you can apply for permanent residence or citizenship. And your application will be approved as long as you meet the requirements.

As a Portuguese permanent resident, you can live, work and study freely in Portugal without immigration inhibitions. You also get an added advantage if you become a citizen. You become entitled to a Portuguese passport which enables you to access public benefits such as free healthcare and social security. The Portuguese passport also gives you access to the Schengen zone and 180 other countries.

Tax Exemption

When you apply for the golden visa, you can choose to become a Non-habitual-resident. This status exempts you from paying taxes on any income you earn outside of Portugal. However, since you have an investment in Portugal, you will have to pay taxes on your return on investment in Portugal. But as an NHR, you will only need to pay 20% tax instead of the usual 48%.

Visa-Exemption in the Schengen Area

With your Portugal residence permit, you do not need to apply for a visa when visiting any country in the Schengen region. Your permit covers you to stay in this region without a visa for 90 days.

Family Reunion

Moving your entire family from Bangladesh to Portugal is possible if you have a golden visa. They can live, work and study in Portugal as long as your permit is valid. Below are the family members you can bring to Portugal from Bangladesh:

• Your spouse.
• Your child who is not up to 18.
• Your unmarried child who is under 26 but has admission to study full-time at a Portuguese university. They must also need you to support them financially.
• Your siblings. However, they must be below 18, and you must prove that you are legally their guardian.
• Your spouse’s siblings. They must also be below 18 and legally under you or your spouse’s care.
• Your parents if they are over 64.
• Your spouse’s parents if they are over 64.

 Affordable Cost of Living

Portugal is regarded as one of the cheapest countries to live in Western Europe. With €1300, approximately 156,000 Bangladeshi Taka, you can live comfortably in Portugal. This is because rent, groceries and the general cost of living in Portugal are affordable.

Live, Work or Study Without Restrictions

The golden visa permits you and your family members to live, work or study without restrictions. Your investment could run while you take up full-time study at a Portuguese university.

Right to Access Quality Education and Healthcare

Portugal has a robust healthcare system, and golden visa holders can access this. You or your children can also benefit from Portugal’s strong educational system.

Pleasant Weather

Portugal prides itself as one of the countries with the warmest weather in Europe. The country also has numerous beaches that attract tourists during the summer. Winter is also not as harsh as it is in other countries. So you can easily adapt to the country as one coming from Bangladesh’s warm and humid climate.

Rights to Access Country’s Borders

If you have a golden visa, you are free to leave and re-enter Portugal at will. You are not tied down by minimum stay requirements routes.

Age

You must be at least 18 years of age to apply for a Portugal golden visa.

Nationality

The program is open only to non-EU citizens; hence as a Bangladeshi, you meet the country-specific requirement.

Clean Criminal History

Portugal takes its criminal background check seriously. Every visa application to Portugal passes through this check. The government wants to be sure they are admitting only people who won’t pose a threat to others into the country.

Investment Fund Earned Abroad

The fund you are using to invest in Portugal must have come abroad. It cannot also be funds you borrowed in Portugal.

Medical Insurance

You must have a health insurance policy valued at  €30000 minimum. If you are coming with your family, you must also purchase this health insurance for them.

Make an Investment

You have to make an investment in Portugal. The acquisition will cost you between €280000 to €500000, depending on what kind of investment you intend to make and at what location.

Maintenance of Investment

You will show the Portuguese consulate you intend to maintain the investment for 5 years.

NIF Number

For your visa to be approved, you must provide a NIF number.  The NIF number is vital for opening a bank account, paying taxes and doing other financial transactions in Portugal. It can be gotten in any tax office in Portugal. Our team at Total Law can also get this for you if you give us power of attorney. Contact our team by calling us at +44 (0)333 305 9375.

Portuguese Bank Account

You have to open a bank account in Portugal for this visa. This account opening can be done from Bangladesh by opening a mobile account, opening an account in Bangladesh with a branch in Portugal or giving our team power of attorney to open it for you. Contact our team by calling us at +44 (0)333 305 9375.

To open a bank account in Portugal, you need to show the bank officials the following documents:

• A Bangladeshi passport or any other travel document issued by the government.
• A NIF number.
• A Portuguese mobile number.
• A proof of your income.
• An address in your home country.

Minimum Stay Requirement

The golden visa rule requires you to spend a minimum of 7 days in Portugal every year.

Real Estate

Most people who apply for the golden visa go through this route. You can either buy a commercial or residential property. However, if you purchase real estate in any of the coastal cities in Portugal, Lisbon and Porto, they must be commercial properties. You can buy residential properties elsewhere.

The amount you will pay for real estate acquisition depends on the location of the property and what you intend to do.

For example, even though you need to spend €500,000 to get a property in Portugal, you only need to pay €400,000 if the property is in a rural area.

If you choose to renovate a property older than 30 years in the urban regions, you must do so with a minimum of €350,000. However, if the property you intend to renovate is in a remote area, you only get to pay €280,000.

Due to the increasing popularity of the real estate route, eligible golden visa properties for purchase are becoming increasingly pricey. You can, however, still meet the requirement by combining resources with someone else to purchase a property. This can work as long as each of you paid a sum equal to or over €500,000.

Still, due to the high demand for properties in Portugal, the government has ruled to discontinue the real estate route. However, pending golden visa applications will still be processed. Renewals too.

All those on the golden visa by real estate pathway will be moved to Portugal’s D2 visa.

You can contact our team at Total Law for advice on potential investment options in Portugal. Call us at +44 (0)333 305 9375 for further discussions.

Fund Subscription

If you don’t plan on living in Portugal, you can try out this option. You can buy units worth €500,000 from investment fund companies. These companies use your money to invest in certain businesses in Portugal and pay you profit when due. You can take your profit but must leave your capital for at least 5 years. Note that funds you invested through this route must not be invested in real estate.

Donations to the Arts and Cultural Heritage

Instead of buying property or putting money with investment fund companies, you can donate to public or private projects. There are rules guiding these donations, however.

Your donation could be towards tech or scientific research. It will cost you €500,000 if the project is located in the urban region. You must pay €400,000 if it is in a remote area.

You can also donate to recover or maintain a national heritage or an artistic production. If the project is in the urban region, you pay €250,000. If it is in a remote area, you pay €200,000.

Transfer of Capital

This is the costliest way to get a golden visa. All you need to do is pay €1,500,000 to a bank account in Portugal. However, this is also one of the routes the Portuguese government will discontinue soon.

Setting Up a Company

Another option to consider when applying for the golden visa is the start-up route. Here, you are expected to open a business that can give Portuguese citizens or residents at least 10 new and permanent jobs.

If the business is in a remote area, it must employ at least 8 new people and give them permanent jobs.

You can also invest in a business already up and running in Portugal. For this to work, you must invest at least €500,000. The business must show that it will employ at least 5 persons for permanent roles for 3 years.

Consult with us at Total Law

You can consult with our team at Total Law so we can advise you on which investment route to take. Schedule a meeting with us if you are currently in Portugal, or contact us online or by phone at +44 (0)333 305 9375. With a power of attorney from you, we can be your legal representative throughout the process.

Get a NIF Number and Portuguese Bank Account

Next, walk into any tax office in Portugal and get your NIF number. You may need to first come to Portugal on a Schengen visa for this. Alternatively, we can get this number for you while you are still in Bangladesh if you give us power of attorney.

Upon receipt of your NIF tax number, you can then open a bank account in Portugal. You may not need to do this if you already have a bank account in Bangladesh with a branch in Portugal. Again, our team at Total Law can help you open a Portuguese bank account.

Get Your Documents Ready

One of the reasons why visas are rejected is because of incomplete or wrong documentation. Plan your application properly. Take your time and review the documents checklist above and ensure you get all the documents listed there as it applies to you.

If this is too cumbersome for you, we can tell you what document to present.

Make Your Investment

You can liaise with us and make an investment. We can help you look at the investment options, meet up with a willing seller and draw up papers to legalise the investment.

Pay Visa Fees

Pay all the required visa fees.

Apply Online

After getting your investment ready, create an account with ARI (the portal that manages residence visas via investment.) Fill out the application therein, or let us do so for you.

Attach all your supporting documents. Ensure they are all in PDF formats and are not more than 4MB.

Schedule a Meet with SEF

Make an appointment with the Portuguese embassy or consulate, and at the agreed date, visit the Embassy of Portugal in India located at No.4, Panchsheel Marg, Chanakyapuri,

New Delhi 110021, India. There you will submit your biometrics. Note that you and your family members must attend the biometric capture in India if you are going with them.

Pick Your Visa

Upon a successful visa application, you will be notified by the embassy to come pick up your visa.

Final Interview with SEF in Portugal

After getting your visa, you can travel to Portugal. You are also required to attend a final interview with SEF. After that, you pay your visa issuance fee and get your residence visa.

In Person

You have to visit the following application centres and submit your request for citizenship:

• Odivelas’ citizens’ shop.
• Nationality desk.
• Offices of the civic registry.
• Portuguese consulate/embassy.
• Registry spaces in Lisbon
• Registry’s central office in Lisbon
• Institute of Registration and Notary Affairs (IRN)

Online

You can make your citizenship application online. However, this must be done on your behalf by a lawyer. The lawyer will apply through the citizenship application portal designated by the Ministry of Justice. If you want to take this route, kindly contact our team at Total Law at  +44 (0)333 305 9375. We have expert lawyers who have experience in applying for Portuguese citizenship.

By Post

Citizenship applications can be made by post. All you have to do is gather your supporting documents and fill out the visa form. Attach them all together and post them to Conservatória dos Registos Centrais, Rua Rodrigo da Fonseca, 202, 1099-033 Lisbon.