Since its launch in 2012, the Portugal Golden Visa Program has emerged as the leading residency by investment initiative in Europe. Designed to incentivize foreign investment in Portugal, the program has garnered immense popularity, with investments exceeding billions of euros and thousands of family applications annually.
From its inception, the program has been particularly attractive to citizens from China, Turkey, Russia, and Brazil. However, starting from 2020, Australian citizens have also shown increasing interest. This surge in interest can be attributed to the stringent COVID-19 regulations and lockdowns in Australia, prompting many Australians to seek relocation to Europe. Portugal stands out as their preferred destination due to its streamlined application process and favorable citizenship criteria compared to other European countries.
Golden Visa Options for Australians
The Portugal Golden Visa program is accessible to individuals who are not citizens of the EU, EEA, or Switzerland and are over 18 years old. Applicants must also provide a clean criminal record to qualify.
The initial step to obtain a Portugal Golden Visa is to make a qualifying investment in Portugal. Various investment options were previously available, including:
- Purchasing a property valued at €500,000 (no longer eligible)
- Subscribing to a qualifying investment fund in Portugal for €500,000
- Making a capital transfer of €1.5 million to Portugal (no longer eligible)
- Establishing a company that generates a minimum of ten jobs for Portuguese citizens
- Investing €250,000 in arts or national heritage refurbishment projects in Portugal.
Benefits of Portugal Golden Visa for Australians
The benefits of the Portugal Golden Visa program for Australians are manifold:
Residency in Europe: The Golden Visa provides a pathway for Australians to obtain residency in Portugal, thereby granting them access to Europe’s Schengen Area.
Visa-Free Travel: Residency in Portugal enables Australians to travel visa-free within the Schengen Area, facilitating exploration and business opportunities across multiple European countries.
Investment Opportunities: The program offers various investment options, including investment funds, cultural donation and job creation, allowing Australians to diversify their investment portfolio while obtaining residency.
Family Inclusion: The Golden Visa extends to family members, including spouses, children, and dependent relatives, providing them with the same residency rights and access to benefits.
Education: Residency in Portugal grants access to the country’s education system, including renowned universities and schools, offering excellent educational opportunities for Australians and their families.
Quality of Life: Portugal is renowned for its high quality of life, pleasant climate, and vibrant culture, making it an attractive destination for Australians seeking a favorable living environment.
Potential Citizenship: After five years of residency, Golden Visa holders may be eligible to apply for Portuguese citizenship, offering them the opportunity to become citizens of an EU member state with all associated rights and privileges.
Portugal Golden Visa Requirements for Americans
To be eligible for the Golden Visa program, the main applicant must:
- Be a non-EU, non-Swiss, and non-EEA national
- Provide a source of income for the minimum investment
- Have a clean criminal record
- Spend on average a minimum of 7 days per year in Portugal
- Maintain your investment in Portugal throughout the five-year program
Can Australian Citizens Get Portuguese Citizenship with Portugal Golden Visa?
Yes, dual citizenship is permitted in Australia. With the Portugal Golden Visa, you have the opportunity to apply for Portuguese citizenship after five years. Initially, the program grants you temporary residency valid for two years. To maintain your residency status, you must spend a total of 14 days in Portugal over the two-year period.
During this initial stage, you can freely travel within the Schengen Zone with your Portugal Golden Visa. After the initial two years, you can renew your Golden Visa, extending your residence permit for an additional three years.
Upon completing the five-year period, you become eligible to apply for Portuguese citizenship. As part of the citizenship application process, you’ll need to pass a basic Portuguese language exam.
Portugal Golden Visa for Australians
Portugal's Golden Visa Process
Step 1 – General Requirements
Familiarize yourself with the general requirements of the Golden Visa program, including eligibility criteria and necessary documentation. Prepare the required paperwork, such as a valid passport, criminal record certificate, and other supporting documents.
Step 2 – Setup your NIF and Bank Account
To apply for the Portugal Golden Visa, you need to obtain a Portuguese Tax Number (NIF) and appoint a fiscal representative. The NIF is a unique identification number that is required for tax purposes. Opening a bank account can be done remotely.
Step 3 – Complete your investment
Choose an eligible investment option, such as real estate, capital transfer, job creation, investment funds, or scientific research. Make the required investment according to the specific criteria of your chosen option.
Step 4 – Online application
Submit your Golden Visa application online through the Agency for Integration, Migration and Asylum (AIMA) website. Provide all the required information, upload the necessary documents, and pay the application fee.
Step 5 – Biometrics in Portugal
Once your application is submitted, schedule an appointment with AIMA in Portugal to provide your biometric data, including fingerprints and a photograph. This step typically requires your physical presence in Portugal.
Step 6 – Golden Visa approval
After completing the biometric appointment, the AIMA will review your application. If all requirements are met and the application is approved, you will receive a residency permit (Golden Visa) valid for an initial period.
Golden Visa Documents
The documentation required for the Portugal Golden Visa may be subject to change at the discretion of the Portuguese Immigration Authorities. Below is a list of documents typically needed:
- Completed Golden Visa application form
- Valid passport for each applicant, along with a valid Schengen visa if applicable
- Criminal record certificate
- Authorization for the Portuguese Immigration Authorities to access the applicant’s Portuguese criminal record
- Proof of residence, such as a recent utility bill or bank statement
- Valid health insurance coverage in Portugal
- Proof of employment, which may include a letter from the employer
- Documentary evidence supporting the eligibility of family members applying for the visa
- Certificate confirming no outstanding debts from Portuguese tax and insurance offices
- Signed statement affirming the commitment to meet the investment requirements
- Evidence of the minimum investment
- Confirmation letter from a local bank verifying the transfer of funds.
The Portugal Golden Visa Explained in Video
Why invest with Portugal Residency Advisors in Portugal?
Local Expertise
We know Portugal. Due to our extensive local knowledge, we believe that concentrating our services in a single country destination is the best way to give you the most thorough and useful information.
Holistic Approach
One single channel of communication for the entire process. We provide you with a comprehensive service that covers all aspects of your investment and Golden Visa application.
Transparent Service
We recommend what’s best for you based on an extensive process experience that saves time and money to clients. Our pricing is clear and competitive, and we don’t sell services that make us more money.
Simple Process
Technology plays a very important role in our company. We minimize our clients’ involvement in paperwork. We are customers ourselves and we know how to serve you.
Frequenly asked questions about the Portugal Golden visa for Australians
What is the Portugal Golden Visa program?
The Portugal Golden Visa program is a residency by investment initiative that allows individuals to obtain Portuguese residency through various investment options.
Who is eligible for the Portugal Golden Visa program?
Non-EU/EEA/Swiss citizens, including Australians, are eligible to apply for the Portugal Golden Visa.
What are the investment options available under the Portugal Golden Visa program?
The program offers several investment options, including, investment funds, job creation, and investment in arts or national heritage projects.
Can Australians hold dual citizenship with Portugal?
Yes, Australia allows dual citizenship, and individuals obtaining Portuguese citizenship through the Golden Visa program can retain their Australian citizenship.
How long does it take to obtain Portuguese citizenship through the Golden Visa program?
Applicants can apply for Portuguese citizenship after holding residency for five years under the Golden Visa program.
What are the residency requirements under the Portugal Golden Visa program?
Initially, applicants receive temporary residency valid for two years. To maintain residency status, they must spend a total of 14 days in Portugal over the two-year period.
Can Golden Visa holders travel within the Schengen Zone?
Yes, Golden Visa holders can freely travel within the Schengen Zone, which includes most European Union countries, for short stays.
Is there a language requirement for obtaining Portuguese citizenship?
Yes, applicants for Portuguese citizenship are typically required to pass a basic Portuguese language exam as part of the citizenship application process.
Can family members of Golden Visa holders also obtain residency in Portugal?
Yes, family members, including spouses, children, and dependent relatives, can be included in the Golden Visa application and obtain residency in Portugal.
