What is Portugal’s Golden Visa and can Indians apply? Know cost, eligibility criteria and benefits

What is Portugal’s Golden Visa?

The Portugal Golden Visa is a residency-by-investment opportunity extended by the country, which offers the applicant the ability to live and work in Portugal, as well as travel to all Schengen countries visa-free. The Golden Visa application is open to all non-EU/EEA/Swiss citizen who can make a qualified investment.

What is the eligibility criteria for a Portugal Golden Visa?

One can apply for a Golden Visa in Portugal if they meet the following requirements:

• They are a non-EU/EEA/Swiss citizen
• They are over 18 years of age
• They have a clean criminal record
• They can stay in the country for 7-14 days per year to maintain residency
• They can make purchase property, transfer capital or invest in a business or fund in Portugal

The catch to applying for a Golden Visa is that the investment amount is hefty. As per the rules, the minimum investment ranges from a 250,000 EUR donation to a 500,000 EUR fund investment to obtain a residence permit. This means that one needs to have a fund investment of over Rs 5.07 crore.

How can the applicant invest?

According to the eligibility criteria, one needs to invest a minimum of 500,000 EUR in a private Portuguese fund, ranging from a venture capital or a private equity fund. Other options include starting a business which creates employment, investing in an existing Portuguese business, or making a donation to a research or development facility. One can also donate towards preserving natural heritage in Portugal.

What are the benefits of Portugal Golden Visa?

• One can qualify for residency after a minimum donation of 250,000 EUR
• One can apply for a Portuguese citizenship after five years of holding a Golden Visa, one of the quickest in Europe
• After becoming a Portuguese citizen, one can get visa-free access to 188 countries
• The Golden visa allows one to live, work and study in Portugal. One can also get access to all public services, including healthcare and education.
• The Portuguese Golden Visa can also be extended to one’s immediate family, including spouse, children, underage dependents and parents over the age of 65.