GOLDEN VISA & EUROPEAN CITIZENSHIP
By way of investment, buying a Prometheus villa automatically entitles you to a lifelong visa for permanent settlement purposes.
The Prometheus legal team will take care of your entire application process on behalf of you and your family.
Right to live in Portugal indefinitely
Launched in 2012 the investor visa program has been actively promoted internationally by the Portuguese government. An investment of €500,000 in real estate in Portugal will gain a residency permit for a family including dependent children.
The golden visa can be renewed every two years providing the applicant spends two weeks in the country every two years.
The Golden Visa Programme will provide investors with the following advantages:
- No need to obtain a visa to enter Portugal
- No need to obtain a visa to travel in Europe (Schengen area)
- Living and working in Portugal, even with residency in a different country
- Residency extended to family members
- Extremely low minimum stay periods
- Low taxes (see questions 22 – 24)
- Permanent Residency after 5 years
- Citizenship after 6 years
Permanent Residency and Citizenship
One of the most attractive options is the ability to apply for permanent residency after 5 years and citizenship after 6 years without the need to reside in Portugal.
In fact, the applicant and their family need only visit for two weeks every two years in order to renew the Portuguese Golden Visa. In Portugal citizenship can be granted without the applicant having resided in the country. However the investor having acquired residency through the golden visa programme will need to demonstrate ties to the country and pass a basic language test.
Citizenship of Portugal and a second passport conveys the right to live, work and study anywhere in the European Union. The Portuguese residency card granted through the golden visa programme allows the holder to travel throughout the EU Schengen zone.
Under the Golden Visa Programme, the investor’s family members may also apply and obtain a resident permit from Portugal by applying for “family reunion”. The Golden visa will be extended to family members, namely children, spouse and dependent family members. The family members will also be eligible for Permanent Residency after 5 years Portuguese Citizenship after 6 years.
Residency & Citizenship of Portugal provides visa-free travel to EU-countries
The Schengen Area is a group of 26 European countries that have abolished passport and immigration controls at their common borders. With a resident permit from Portugal, the investor is entitled to enter and travel freely throughout all the countries of the Schengen area.
The Schengen Area includes the following countries: Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, The Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, Switzerland.
Romania, Bulgaria and Croatia are currently candidate countries to the Schengen Area.
Golden Visa Application Documentation
The application for the Golden Visa implies that the investor will have to submit the following documentation:
- Proof of Investment
- Passport & Valid Schengen Visa
- Portuguese Fiscal number
- Criminal Record from country of origin and/or residency
- Portuguese Criminal Record
- Declaration from the Tax Department proving the absence of debts to the Tax Authorities
- Declaration from Social Security proving the absence of debts to Social Security Authorities
- Declaration from the investor confirming compliance with the investment requirements
- Health Insurance valid in Portugal (if living in Portugal)
- Receipt of payment of the initial application fee.