Basically, the Golden Visa program is only available to those who live outside Portugal, the EU and the European Economic Area — they can obtain a residence permit in Portugal through investment. This contributes to their eligibility for citizenship after six years as a legal resident. Potential participants in the Portuguese business immigration program do not have any super high requirements. In fact, these requirements can be called quite loyal. Lets see them.
Requirements for Golden Visa:
- First, the main investor (as well as his spouse and children under 26 years old — in the case of a collective application) must be clean before the law. In other words, he should not have a criminal record.
- Secondly, the investor (as well as the persons involved in the collective application) at the time of filing the application should not have restrictions on entry into the EU, which may be expressed in the refusal to issue a visa for one reason or another — for example, due to a previous entry into the EU. SIS blacklist.
- Thirdly, the sources of investment funds that a foreigner is going to spend on obtaining a "Golden Visa" in Portugal must be legal and officially confirmed.
- Fourth, when children aged 18 to 26 are included in the collective application, it is necessary to provide the Portuguese authorities with documentary evidence of the fact that such children are materially dependent on the main investor (for example, you can send documents confirming the fact that children are studying at a university).
- Fifth, potential participants in the Portuguese business immigration program need to have health insurance valid in the Western European country in question.
- Sixth, after issuing a "Golden Visa" in Portugal, the main investor and other persons involved in the collective application will be able to renew the residence permit issued in this way only if they reside in this country for at least 7 days a year. An investor visa is initially valid after issuance for a period of one year and can be renewed every two years, provided the applicant spends two weeks in Portugal.
- Seventh, it is also necessary to fulfill the investment requirements by providing evidence of the acquisition of the property, the creation of jobs, the transfer of capital to Portugal, and so on.
- Eighth, an investment object acquired when applying for a "Golden Visa" in Portugal will need to be held by a foreigner for at least five (5) years. Otherwise, he will lose his resident status.