Portugal Golden Visa From India Introduction
You can move from India to Portugal on a golden visa. This immigration route was created by the Portuguese government in 2012 to attract high-value investors into the country. The goal was to use the investor’s funds or business to boost the Portuguese economy.
The golden visa is Portugal’s visa for investment, and it is only open to non-EU nationals. Applicants are required to invest at least €200,000 in Portugal. It does not end there, however. You must also maintain and oversee your investment for at least 5 years.
When the 5 years are over, you can take back your investment or sell it. You can also apply to get permanent residence or citizenship. This is one of the fastest routes to naturalise in Portugal.
One of the reasons why the golden visa is popular is because the visa rules do not mandate anyone to stay more than 7 days straight in a year.
Indians who are golden visa holders can go with their families and live and study freely in Portugal.
- Portugal Golden Visa From India Introduction
- Benefits Of The Portugal Golden Visa
- Investment Types for Portugal Golden Visa
- The Requirements And Eligibility For The Golden Visa In Portugal
- NIF Number And Bank Account Requirements
- Costs For The Portugal Golden Visa
- How to Apply for The Portugal Golden Visa From India
- Portugal Golden Visa Program Validity And Renewals
- What To Do If Your Golden Visa Is Rejected
- Permanent Residency and Citizenship in Portugal Through The Golden Visa
- How Can Total Law Help?
- Frequently Asked Questions
Visa-Free Access to the EU
If you get a golden visa, you have visa-free access to the countries in the EU. You and your family can visit any country in the region and stay for 90 days. All you need to do is show your residence permit at the border.
Work, Live and Study Freely
With a golden visa, you can work, live and study freely without immigration hassles. You can study at any Portuguese university while your investment runs in the country. This benefit is extended to your family members as well. They can study, work, and live as free residents in Portugal.
You can take your family with you when applying for a golden visa. It is also possible for you to move to Portugal first and have them join you later. As the principal applicant, you can go to Portugal on a golden visa with the following family members:
- Your spouse or de facto partner.
- Your children who are below 18 years of age.
- Your children who are below 26, unmarried and have an offer to study full-time in a Portuguese institution. They must also depend on you for support.
- Your parents but they must be at least 65 and depend on you for support.
- Your spouse or partner’s parents, but they must at least be 65 and depend on you for support.
- Your siblings, but they must not be above 18. You must also be their legal guardian.
- Your spouse or partner’s siblings must not be above 18. You or your partner must also be their legal guardian.
Pathway to Portuguese Citizenship
The most exciting part of getting the golden visa is that after 5 years, you can apply for permanent residence or citizenship. If your citizenship application is approved, you now have the right to apply for a Portuguese passport.
The passport gives you a couple of benefits:
- You can vote and be voted for during elections.
- You can access public healthcare and social security.
- You can also visit over 180 countries without applying for a visa.
Again, when you naturalise as a Portuguese citizen, you make it easier for your dependents (spouse and children) to get permanent residence or Portuguese citizenship.
As a Portuguese citizen, you also become an EU citizen. You can choose to live, study and work in any country in the EU.
For those who hold a golden visa, the tax rules are relaxed. For example, you will have to spend at least 183 days in 1 year before your income from abroad can be taxed. If you choose to spend less than 183 days in Portugal, you become a non-habitual resident.
But, your income from the investment you made in Portugal will be taxed, however, at a reduced rate. While others will pay 48% tax on income, you get to pay only 20%. This privilege is available for 10 years.
Affordable Living Cost
If you want to move to a country in Europe with an affordable and quality living cost, then Portugal is your best bet. The country has one of the cheapest living costs per month in Europe. Healthcare and education are top-notch yet one of Europe’s most affordable.
Minimum Stay Requirement
Another advantage of having a golden visa is that you do not need to stay in the country. This is unlike other immigration pathways that require you to spend enough time in the country, especially if your stay counts toward permanent residence or citizenship. As a golden visa holder, you are required to only stay for 7 consecutive days in 1 year.
Access to Portugal Borders
Some immigration pathways limit the times you can access the country’s borders. But with the golden visa, you can access the borders anytime. This is also the same for your family members.
One thing that discourages people from moving to Europe is the cold weather.
Portugal’s weather is not as cold as other parts of Europe, so you can adapt easily to the weather as an Indian.
One of the significant parts of the application process for a golden visa is your investment. You have to fund a project in Portugal with money you earned abroad. The Embassy will not grant your visa until you show them proof of your investment.
Again, you do not just invest your money anywhere. There are specific investment options the Portuguese government approved. It is an investment in these options that counts towards the approval of your visa application.
Here are the investment types available for funding:
Investment in Scientific or Tech Research
There are many tech and scientific researchers in Portugal looking for sponsors. Some of these researchers work for public and private establishments. You can look out for these people and fund their research works. Note that the research must be conducted on Portuguese soil and in science or technology.
In this category, you have to invest at least €400,000 if the research location is in a sparsely populated region and €500,000 if it is in a densely populated area.
Investments in Arts and Culture
As an Indian, you can choose to invest in the arts and culture of the Portuguese people. There are artefacts or historical monuments that need to be reconstructed or refurbished.
The goal is to ensure that the particular artistic project is protected. For this category, you must invest at least €250,000 if the project is in a densely populated area and €200,000 if it is in a sparsely populated area.
Setting Up a New Business or Company
Another route you can take regarding investment types is incorporating a new company or business in Portugal. Your business must commit to providing permanent jobs to a minimum of 10 persons. If the business is in a sparsely populated area, it will commit to providing 8 permanent jobs.
Funding a Business
If you cannot go through the rigours of starting up a new business in Portugal, you can decide to fund an already existing business. You can do this by purchasing some shares in the company with at least €500,000. Upon supporting the business, the business will commit to creating a minimum of 5 jobs available for 3 years.
You can also go through the Venture Capital Fund Investment route. But you must ensure that your funds will not be invested in real estate. Your funds must also be used for a business in a Portugal territory.
Before August 2023, the Parliament created Portugal golden visa new rules. Under these rules, some investment options were closed down. Those options are:
- Capital transfer funds of €1,500,000.
- Purchase of real estate property with €280,000 to €500,000.
- Venture Capital Fund Investment that will be channelled into the purchase of real estate.
When applying for a golden visa, you can join resources with a friend or family member.
Assuming a business needs €1,000,000 to remain afloat, you and your friend can contribute €500,000 each. This will meet the minimum requirement needed for the business funding option.
The Portugal golden visa is available for non-EU nationals, so Indians are eligible for the visa.
You must be 18 and above before applying for a golden visa.
Health Insurance Certificate
You must show the Embassy that you have a valid medical insurance policy. The medical insurance policy must have a value of no less than €30000. Every family member who will travel with or join you must have this policy, too.
Minimum Stay Requirement
You must agree to stay in Portugal for at least 7 consecutive days a year.
Investment in Portugal
Before your application is approved, you must show the Embassy that you invested in Portugal. The investment must be in valid investment options and with an accurate investment amount. You have to invest between €200,000 and €500,000.
You will sign an affidavit that you will maintain your investment in Portugal for at least 5 years. After 5 years, you are no longer obligated to keep the investment. You can sell it or take back your capital.
Clean Criminal Record
The Portuguese government is serious about keeping people who have committed criminal offences out of the country. They are bent on ensuring the safety of residents and citizens alike. To that effect, anyone applying for any Portugal visa must submit a certificate of criminal record.
You have to obtain this from the Police in India. You must also get this document from every country you have spent at least 3 months in the past 5 years.
Note that the criminal record certificate you submit must not have been obtained earlier than 90 days before you submitted your application.
Investment Funded By Income Earned Abroad
It is vital to note that the funds you will use in investing in Portugal must not be earned within Portugal. You cannot also take a loan from a Portuguese financial institution to apply. The income must originate abroad.
You will submit some documents to support your golden visa application. These documents prove you are eligible for the visa you are applying for.
Below are the documents you need:
- Valid Indian passport. This passport must have been issued in the last 10 years and must still be valid 3 months after your golden visa expires.
- Completed golden visa application form. This form must be signed; otherwise, the Embassy will reject the application.
- Passport photographs that meet the photo requirements of the Embassy. It must show your face clearly.
- Signed affidavit that shows you have agreed to maintain your investment in Portugal for 5 years.
- Medical insurance policy certificate valid throughout the EU and worth at least €30,000. Each family member must have an insurance certificate.
- Criminal history certificate from the Police force in India and any other country you have dwelt for more than 3 months in the past 5 years.
- Evidence that you have paid the golden visa fees.
- Account number of a bank in Portugal.
- NIF number showing that you agree to pay taxes when due as long as you are in Portugal.
- Completed consent form that shows you authorise the SEF to check your criminal history.
- Certificate of business incorporation showing you have started a business in Portugal.
- Official statement from the Office of Strategy, Planning and Cultural Assessment, which shows you have invested the required sum for the reconstruction of an artistic project in Portugal.
- Statement from a public or private research team that confirms you have funded their research in Portugal.
- A Bank statement or an official account from a financial institution shows you have sent the sum for investment and purchase of shares from a company.
- Employment contracts between the company you funded or started and the employees showing that you have created permanent jobs.
- Birth certificates of the children you are travelling with.
- Birth certificate of your parents or your spouse’s parents.
- Marriage certificate if you want to travel with your spouse.
- Adoption certificate showing you are the legal guardian of your siblings.
You must ensure that all the documents you submit are in English or Portuguese. If they are in Hindu, you will have to translate and legalise them using an authorised translator. You must submit both the original document and the translated copy.
Birth and marriage certificates must be legalised.
Below are the places where you can get certified translations:
- Indian Embassy in Portugal.
- Portuguese Embassy in India.
- Translations legalised by a Portuguese lawyer.
NIF Number And Bank Account Requirements
When applying for a golden visa, you must first get an NIF number and have a bank account created for you in Portugal.
You need a NIF number to open a bank account in Portugal. The NIF is a Portuguese tax identification number.
It is not hard to obtain an NIF. You can walk into any tax office and make a formal request. You must submit your Indian passport and write down your address in or outside Portugal. Upon submitting these, you will get an NIF number.
If you cannot visit Portugal (perhaps on a Schengen visa) to get this number, our team at Total Law can get it for you. All you have to do is give us power of attorney. You can always reach us by dialling +1 844 290 6312 or messaging us online.
After getting your NIF number, you can get a Portuguese bank account. If you have an account with a bank in India that has a branch in Portugal, you do not need to open another account.
You can also make use of online banks.
To get a bank account opened for you in Portugal, walk into any bank of choice and submit the following documents:
- Valid Indian passport.
- Evidence of your source of income.
- Address in India or Portugal.
- NIF number.
Give us the power of attorney, and we will help open an account for you. Call us by dialling +1 844 290 6312 or messaging us online.
Costs For The Portugal Golden Visa
After investing in Portugal, you must also pay certain amounts to the Embassy during your application.
Here is the Portugal golden visa cost breakdown:
- You pay €533 as the principal applicant for the Embassy to process your application. You pay this fee each time you apply for a renewal.
- You pay €83 for each family member joining you in Portugal. You must also pay this fee each time you apply for a renewal.
- You pay €5325 as the initial application fee. This is a one-time payment.
- You pay €2663 for the renewal of the visa of your dependents.
Do note that you must also pay the legal fees of the law firm managing your application for you. There are also fees you must pay to get certain documents. You will need to pay for your documents to be translated and legalised.
If you are starting up a new business, that would also cost you a certain amount of money. You will need to pay attorneys to prepare the incorporation papers for you or investment documents if you choose to fund an already existing business.
Consider Your Options
You can start by looking at your money and checking which investment option you can take. You can call us to discuss this. We have helped many Indians get the golden visa, and we can help you with regard to advice on what investment you should take. Call us by dialling +1 844 290 6312 or send us a message online.
Also, remember that we can handle the application process for you from start to finish if you give us power of attorney.
Get an NIF Tax Number and Open a Bank Account in Portugal
It is easy to get a NIF number. If you are in Portugal, walk into any tax office and request it.
If you are abroad, you can contact us to get the NIF number. Upon receipt of the number, we can help you open a bank account.
Prepare Your Documents
Getting your documents in order is always advisable before kick-starting the application. You need to be meticulous in this part because your documents prove your eligibility. Mistakes and discrepancies in supporting documents are leading causes of visa denials. Use the document checklist above to know the documents you need to submit.
Make Your Investment
After deciding what to invest, you can quickly move funds to get the investment done. It is always wise to do your investment with an attorney. We have competent attorneys who can look out for your interest in the investment you are making. Are you unsure of where to start? Give us a call.
Pay Visa Fees
The next step is to pay the visa fees. You can pay online via money order in favour of the Embassy or make your payments at the Embassy the day you go to submit your application. Ensure you attach proof of payment to your supporting documents. Applications without proof of visa fee payment will not be processed.
After paying your visa fees, you are required to make applications online. You have to log on to the ARI website and submit your application. You must download the visa application form, fill it out by hand and sign it, then scan and upload it to the platform.
Attach all your supporting documents, too.
Your documents must not be larger than 4MB and must be in PDF format.
It will take the Embassy between 60 and 180 days to get back to you on the status of your application. If you get a positive response, you will be invited for biometric capture.
If the Embassy okays your online application, you must schedule an appointment with them. You can call them on the phone, email them or book a date online. On the day you are scheduled, you must visit the Embassy to give your prints. You must also go with your family if they are travelling with you.
The Portuguese Embassy is at 4 Panchsheel Marg, Chanakyapuri, New Delhi – 110021.
Collect Your Visa
If your application is successful, the Portuguese Embassy will send you mail informing you when and where to pick up your visa. Ensure that your passport has at least two empty pages where the Embassy will attach your visa.
Note that what the Embassy will issue you upon visa approval is an entry permit. You must change this to a residence permit when you arrive in Portugal.
Collect Your Residence Permit
Under normal circumstances, the Embassy schedules your meeting with the SEF for the residence permit. If they didn’t do this in your case, you have to book an appointment with the SEF yourself. They will invite you for an interview and issue you a residence permit.
Portugal Golden Visa Program Validity And Renewals
The Portugal golden visa lasts for 1 year. If the 1 year elapses, you have to apply for a renewal. This renewal lasts for 2 years. After the 2 years elapse, you will have to apply for renewal again, which will last for another 2 years.
What To Do If Your Golden Visa Is Rejected
If your golden visa application is rejected, there are some things you can do. First, you can choose to reapply after you have fixed the reason for which it was denied. You can also appeal the visa rejection if you feel like you were wrongly rejected or that a part of your application was not considered.
If you want to appeal the decision of the Embassy, you can contact us at Total Law. We have a team of lawyers experienced in Portuguese immigration laws. They can represent you during your case.
One of the perks of the golden visa is that at the end of 5 years, you can then submit an application for permanent residence or citizenship.
You can also choose to renew your golden visa.
You must visit the SEF website and complete the visa application form to apply for permanent residence. You will also be advised on where to submit your supporting documents like:
- <li”>Two recent passport photographs.
- Proof you have scheduled an appointment with SEF.
- Evidence you have a temporary residence permit.
- Valid Indian passport.
- Receipt of your application fee payment of €15.
For citizenship, the application is managed by the Minister of Justice. You have 3 means of applying:
You can apply for citizenship online, but you need a lawyer. It is only a lawyer that can make the application on your behalf.
You can gather your supporting documents and submit them at the places below:
- Civic registry offices.
- Nationality desk.
- Portuguese Embassy.
- Lisbon’s registry spaces.
- Odivelas’ citizens’ shop.
- IRN (Institute of Registration and Notary Affairs)
You can gather your documents and send them by post to Conservatória dos Registos Centrais, Rua Rodrigo da Fonseca, 202, 1099-033 Lisbon.
After your citizenship is approved, you can apply for a Portuguese passport. This gives you visa-free access to over 180 countries. You also become a citizen of the EU. You can live wherever you want in the EU without applying for a visa.
You become eligible to vote and contest in any election. You can get benefits from the government, like healthcare and education.
How Can Total Law Help?
At Total Law, we make the visa application process seamless for you. And we know we can do this because we are experts in immigration law. So, allow us to take the responsibility off your shoulders and process your application.
Are you interested in knowing how much the visa will cost? Do you want us to assess your application and peculiar situation? Our team is always on standby to help you make your dreams of moving to Portugal come true.
For more information, call us at +44 (0)333 305 9375 or message us online.
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You can stay in Portugal with a golden visa for 5 years. After 5 years pass, you can apply for permanent residence or citizenship.
Previously, it was possible to buy a house (real estate route) and get residency in Portugal. But as of August 23, the real estate route was shut down.
Not everyone can get a golden visa. It is reserved for qualified people from non-EU countries.