Do you wonder what the Portugal Golden Visa processing time is? Well, it can take between six to nine months after you have submitted the application. However, selecting an investment option and preparing your application for submission might take even more time.
Do you want to know more about the Portugal Golden Visa Processing time and the application procedure? Continue reading because this blog is all about the application process and the information related to the Portugal Golden visa.
What is the Portugal Golden Visa?
Before we dive into the technical details of Portugal Golden Visa processing Time, let us introduce you to Portugal Golden Visa. Needless to say, it is a residence permit, but to get the Portugal Golden Visa, you must be a non-EU national. Furthermore, this Golden Visa is not for you if you haven’t invested in Portugal, including main Portugal and autonomous areas of Madeira and Azores.
With this Golden visa, you can do whatever you want to do in Portugal, like working, studying, earning, and even establishing a business. It is also termed as the residence permit for entrepreneurship or ARI. When you have a Golden visa, you get Portuguese citizenship for five straight years. Subsequent to that, you can apply for permanent residency if you would like to. The Portugal Golden visa is entitled to the fast-tracking process because the Portugal Golden processing time is as short as a flurry of moments.
You will be eligible for the Portugal Golden Visa only if you have invested your money in
- Real estate property
- Capital investment
- Creating employment opportunities in Portugal
Originally, the Portugal Golden Visa was introduced to draw more investors to Portugal, attract international capital, and create employment opportunities in Portugal. However, it’s not only the Portuguese economy that is benefiting from the Golden Visa. Instead, the Portugal Golden Visa offers several benefits to visa holders. For instance, with this visa, you can travel anywhere in Europe without any visa. Furthermore, after you have received the Golden Visa residency in Portugal, you can visit 188 countries in the world without needing the visa.
Eligibility Criteria
Although the Portugal Golden Visa processing time is not as long, the eligibility criteria for this residence permit can be very strict. For you to pass the eligibility criteria for the Portugal Golden Visa, you must fulfill the following criteria:
- The applicant must be above 18 years old age.
- Make an investment that contributes significantly to Portugal’s economy.
- You should have a crime-free record.
- If you wish to apply for a Portugal Golden Visa, you must be a non-Eu, non-EA,
- or non-Swiss national.
- You will be eligible for the Portugal Golden Visa only when you have invested your own money and not any of your guardian’s money in Portugal.
- Your investment should last for five years, starting from the date you applied for the Portugal Golden Visa.
- To secure the Golden Visa, you should live in Portugal for at least seven days per year.
While applying for a Portugal Golden Visa, you can also apply for some of your family members in a concurrent application. Here is a list of family members who are eligible to submit their application with yours:
- Your spouse.
- Your kids who are under 18 years of age.
- Children under 26 years of age who rely on you. For instance, those who are full-time students or any kid who relies on their source of income for living and are unmarried.
- Your and your spouse’s parents, who are older than 65 years of age can apply for the Golden Visa with you.
- Your parents and parents of your spouse who are dependent and are above the age of 55 years old. For that, you need to provide the documents that prove their dependence on you.
- Your and your spouse’s siblings are under 18 years of age and are under your legal custody.
Benefits of the Portugal Golden Visa
Other than its shorter Portugal Golden Visa processing time, the Portugal Golden Visa has plenty of benefits to offer. For instance, with this visa, you can travel in 188 countries visa-free and in Europe. Here are some of the other benefits:
- Although short Portugal Golden Visa Processing Time tops all the benefits, with a Portugal Golden Visa, you get the Tax benefits. If you live in Portugal for a period of less than 183 days, you can dodge the Portuguese taxes. However, if you live as a tax resident in Portugal, you will only be eligible for a non-habitual residence program (NHR). The NHR program exempts you from paying income tax for the next ten years of your life in Portugal.
- After you are awarded the Portugal Golden Visa, you can access the services like education and healthcare in Portugal.
- With the Portugal Golden Visa in your pockets, you are now eligible to apply for a passport and Portuguese citizenship.
- As a Golden Visa resident, you can pursue any business line and invest in any sort of business you want.
Portugal Golden Visa Processing Time
Applying for a Portugal Golden Visa can involve steps like planning for the investment, preparing the application, and submitting it. After the application submission, the Portugal Golden Visa processing time can vary, but it is between 6 to 9 months in many cases. After they have approved your application, they will issue your residence card right away.
The Portugal Golden Visa processing time might vary, but the procedure is the same for everyone. Here are the steps you need to follow while applying for a Portugal Golden Visa:
- Choose Your Line of Investment: If you have decided to apply for a Portugal residency and have enough money in your bank account, you should start considering an investment. You can go for any sort of investment and then invest in that particular field. For instance, you can buy real estate or property or connect with an institution conducting scientific research. You can even meet with an investment manager in Portugal.
- Get a Portuguese Tax Number: You can get your tax number or the NIF from the Tax and Customs Authority. To get yourself a tax number, you should provide the Customs authority with documents like a passport and proof of your Portuguese address.
- Get A Bank Account: Before you finalize the investment in Portugal, you must get a tax number and a bank account. Your bank account should be with an institute that is authorized by Portugal’s national bank. You will have to get yourself the bank account on your own, and you will need the following documentation for this purpose:
-
- Passport
- NIF number
- Portuguese contact number
- Proof of your residence in Portugal
- Proof of your income
- Finalize the Investment: Remember, you will only get the Golden visa after you have finalized your investment. You can do that after you have got a tax number and bank account.
- Prepare Your Application: You will need to follow a procedure of multiple steps while applying for the visa and submitting the application:
-
- Get your application registered via the ARI portal.
- Attach the documents in PDF format with a maximum size of 4MB.
- Pay the processing fees:
- Visa Processing Fee: €533 per applicant
- Visa Processing Fee: €5,325 per applicant
- Visa Processing Fee: €2,666 per applicant
- Legal Fees: It can vary with the type of investment
- After you have submitted the fees, you can then submit your application.
- Now, you will have to wait for the confirmation message from the SEF.
- You will also have to attend an SEF appointment and get an official status on your visa application. In this appointment, you will also submit your biometrics, like fingerprints, to the SEF. In case you can’t make it to the appointment, you should give your legal advisor the power of attorney to complete the procedure.
Required Documents for Portugal Golden Visa Application
For you to get the visa, you should fulfill the visa application requirements on priority. In case you fail to provide the required documents for the visa application, the agency might discard or disapprove your application.
Furthermore, you must not forget that when preparing for the visa application, you must translate all your documents into Portuguese. The translated document must be notarized or authorized and should be recognized internationally.
You can also consult a legal advisor when preparing your application for a Portugal Golden Visa. They will also prove to be helpful when choosing investment options. Furthermore, they can also look into the documentation and ensure that your documents comply with the legal requirements.
Here is the list of documents you need to apply for a Portugal Golden Visa:
- Passport/ Valid Travel document with six months of validation
- Passport-sized photograph
- Complete Application form
- Healthcare documentation
- Criminal record certificate
- Tax information
- Regularized contribution status proof
- Proof of legal stay and entry
- Receipt of application fee
- Documentation about investment
To apply for the Portugal Golden Visa, you will need to submit these documents on time and to make the Portugal Golden Visa processing time even shorter. That way, you will be able to get your hand on the resident card without any delay.
