Portugal boasts an excellent reputation and is considered one of the world’s most globalized and peaceful nations, with a high quality of life and a very high Human Development Index ranking. It is among the oldest nations in Europe with a rich history, lively culture, exceptional cuisine, stunning beaches, and idyllic countryside.
Citizenship in Portugal
Portuguese citizenship grants the right to settle, work, and study in all EU countries and allows visa-free or visa-on-arrival access to 188 destinations worldwide. Portuguese citizenship can mainly be acquired by those who are descended from Portuguese parents or grandparents, by marriage or civil union, or by birth in a Portuguese territory.
In relation to those who are resident in Portugal, including those who follow the residence by investment program, it is possible to apply for citizenship after five years of legal residence in Portugal, if:
- The applicant is at least 18 years of age
- The applicant has been a resident in Portugal for at least five years
- The applicant has basic (A2 international level) knowledge of the Portuguese language
- The applicant has not been convicted for a crime that corresponds to a penalty equal to or more than three years according to Portuguese law
In order to create more favorable conditions for citizenship approval, the applicant may demonstrate tangible connections with the Portuguese community. Portugal allows dual citizenship.
Henley and Partners assists private clients in applying for citizenship on the basis of the requirements listed above having been satisfied.
The Portugal Golden Residence Permit Program
The Portugal Golden Residence Permit Program (commonly known as the Portugal Golden Visa Program) is a five-year residence by investment program for non-EU nationals. The residence permit gives the right to live, work, and study in Portugal and allows free circulation in Europe’s Schengen Area. Furthermore, the program only requires an average of seven days per year stay in Portugal over this period, which can also count towards citizenship eligibility after five years.
Benefits of a Portuguese golden visa
- Visa-free travel in Europe’s Schengen Area and the right to live, work, and study in Portugal
- Eligibility to apply for citizenship after five years as a legal resident while keeping other citizenship(s)
- Low physical presence requirement (seven days during the first year of residence and 14 days for the two subsequent years, which can count towards citizenship eligibility after five years)
- Excellent international and Portuguese schools and universities
- High quality of life, local cuisine and wines, rich culture, mild climate, and a high level of security
- International quality healthcare clinics and hospitals
Portugal golden visa requirements
Applicants can choose any one option in any of the three categories: capital transfer, property acquisition, business:
Capital transfer
One of the following options:
- EUR 1.5 million minimum capital transfer into a Portuguese bank account or approved investments
- EUR 500,000 for the acquisition of investment fund or venture capital fund units committed to the capitalization of companies incorporated under the Portuguese law, with a maturity of at least five years and with at least 60% of the investment portfolio in companies with a registered office in the national territory
- EUR 500,000 for research activities of public or private entities that are part of the national scientific and technological system
- EUR 400,000 in a low population density area*
- EUR 250,000 in support of artistic production or in the recovery or maintenance of national cultural heritage
- EUR 200,000 in a low population density area*
Property acquisition
One of the following options:
- EUR 500,000 minimum real estate purchase (residential property is limited to designated interior areas)
- EUR 400,000 in a low population density area*
- EUR 350,000 minimum real estate purchase for the refurbishment of residential properties older than 30 years or in an area of urban regeneration, including the cost of renovations (residential property is limited to designated interior areas)
- EUR 280,000 in a low population density area*
Business
One of the following options:
- Creation of a minimum of ten new jobs
- Eight new jobs in a low population density area*
- EUR 500,000 for the incorporation or increase of the share capital of a company that is registered in Portugal, creating or maintaining a minimum of five permanent jobs for a period of three years
*A low population density area is defined as less than 100 inhabitants per km² or with a GDP per capita below 75% of the national average.
Procedures and time frame of the Portugal golden visa
After the residence permit has been received, the client will need to provide biometric data and updated original documents at each renewal. The first permit is usually issued for one year; however, due to the Covid-19 pandemic, it is now issued for two years. Thereafter, the permit may be renewable for two subsequent periods of two years.
The Portugal Golden Residence Permit Program requires the main applicant to make two trips to Portugal during the application period:
- To choose the qualifying investment, start the legal process, and open a bank account
- To provide the biometric data and original documents
After the residence permit has been received, the client will need to provide biometric data and updated original documents at each renewal.
The process to acquire a Portuguese residence permit through investment takes over 18 months.