In 2024, only two countries in Europe offer citizenship for investments programs. These are Portugal and Malta, and in both cases, applicant must first obtain a residence permit, and years will pass before naturalization. So, to obtain a residence permit in Malta, you will need to make a non-refundable contribution to the state fund in the amount of €600,000 (or €700,000 for the accelerated option of obtaining citizenship). Moreover, this is far from the only condition – applicant will need to either purchase or rent real estate to live in Malta. And to obtain a Portugal Golden Visa, investors need to fulfill one simple condition. Namely, invest in an authorized fund that will pay dividends and return the invested amount after an agreed period (from 5 years). In this article we will consider in detail the terms and conditions for obtaining Portugal Golden Visa.
- The five-year period before naturalization procedure (citizenship) begins on the date of submission of the Portugal Golden Visa application, and not on the date of obtaining a permanent residency card. Amendments to the Law came into force in 2024. Meaning that while waiting 12-15 months for a decision on the application, investor “gains” time, which will be counted when applying for Portuguese citizenship.
- The minimum requirements for visiting the country are 7 days a year. Thus, an investor can apply for Portuguese citizenship without residing in the country.
- Travel within the EU without restrictions and visas. In addition to the fact that you can reside temporarily or permanently in Portugal, with a Golden Visa you can travel within the Schengen countries (90 days every six months).
- Low tax burden. In particular, dividends paid by the fund are not subject to taxes if the investor does not live 183 days a year or more in Portugal.
- Option to include your spouse, children and even parents in your application for a Portugal’s residence permit program.
How to invest in a fund to obtain a Portugal Golden Visa
APEX recommends an authorized closed-end fund to its clients which is dedicated to hotel assets and residencies with a strategy focused on operating assets looking for expansion and upgrades. Focus is on the high-end market segment in Portugal with a target size of 75 million euros. Target return is 6% and management fee is 2% per year. The investment period is 5 years and first closing will be 31st of December 2024.
It is important that concluding an agreement with the fund and transferring the full amount is a mandatory requirement for preparing an application for a residence permit in Portugal. And then the money remains in the fund, according to the terms of the concluded agreement, regardless of the decision on the application. Therefore, it is important to choose a fund whose contract terms are optimal for the investor’s financial strategy.
Portugal Golden Visa validity period
The Portugal Golden Visa is issued for two years with the right to extend for two subsequent periods of two years. So, for the first time you will need to extend your visa 2 years after receiving it. In August 2024, it became known that the renewal fee had changed. Namely, instead of €3900 per person previously, the amount is now €82 per person. However, the amount of fees for filing an application for a Portugal Golden Visa has not changed (request a calculation from APEX).
Visits to Portugal during the process
To obtain a residence permit for Portugal, a Golden visa, applicant will need to visit the country several times: opening a bank account, submitting biometrics, obtaining residence permit cards. If the main applicant and dependent family members do not have a valid Schengen visa to enter Portugal, our lawyers will prepare a special invitation from the Portuguese Immigration Service, SEF, on the basis of which a visa will be issued.
Book a free consultation from APEX experts. You may request total calculation of costs for Portugal’s residence permit program by providing a list of family members for your application.
