Who Can Get Residency in Portugal?

Portugal is fast becoming one of the top destinations to relocate to in Europe and throughout the world. The idyllic coastal country offers its inhabitants a rich culture, beautiful scenery, pristine beaches, delectable food, year-round warm weather, low crime levels, quality education opportunities, world-class healthcare systems and a high standard of living.

If you are planning a long-term stay in Portugal, acquiring an official residency is an absolute must. One of the most popular ways Portuguese residency is obtained is through Portugal’s residency by investment program, also known as the Golden Visa Program, which fast-tracks permanent residency and is an indirect path to citizenship for non-EU nationals.

Even if you do not intend to reside in Portugal, obtaining residency through the Portugal Golden Visa Program is still a great way to secure your assets and guarantee a prosperous future for you and your family. Portuguese residency comes with many benefits and opportunities, including freedom of movement throughout Europe’s Schengen Zone and access to lucrative business and investment opportunities in the region.

With that being said, not everyone can apply to the Portugal Golden Visa Program as there are requirements and certain criteria that needs to be met before individuals are granted a residency permit. We look at who can get residency in Portugal:

What is the Portugal Golden Visa Program?

Launched in October 2012, the Portugal Golden Visa Program is a legal process based on the law that invites foreign investors from non-European Union countries to obtain fully valid residence permits in Portugal for themselves and their families. In exchange for permanent residency, applicants to the program are required to pass all due diligence checks and invest in real estate in the country. Once applicants receive their residence permit, they will gain the right to live, work, travel and study in Europe, as well as have access to Portugal’s healthcare and consumer rights.

Who Qualifies for the Portugal Golden Visa Program?

Whether you need to obtain residency in Portugal depends on your nationality and purpose of stay. According to Portuguese immigration policies, European Union (EU) nationals can enter the country using their identity cards. Since Portugal is an EU member state, EU nationals are allowed to enter the country for three months to find a job or set up a business. Once hired, EU nationals are then granted the same rights as Portuguese workers. If staying for more than three months, EU nationals must request a registration certificate. After five years, EU citizens can then request a permanent residence certificate.

All other foreign visitors will need a passport and a visa (if required) to enter Portugal for 90 days within six months. If you wish to stay longer than three months, you will need to apply for a residency permit through the Portugal Golden Visa Program. Any individual can apply for residency by investment as long as they meet all the application process requirements. These are as follows:

Main Applicant

Investors are required to be at least 18 years of age, in good health, possess no criminal record, have confirmed investment sources and successfully pass due diligence checks. Individuals can apply as single applicants or as a family.

Eligible Dependents

Family members that can be included in the application are the main applicant’s spouse and children (biological or adopted) under 18 years of age. Parents and children older than 18 years old can also be included in the application if they are dependent on the main applicant.

Portugal Residency by Investment Options: New Portugal Golden Visa Rules Come Into Effect

As of October 7th, 2023, the new rules for the Portuguese Golden Visa are now in full effect. This follows the recent enactment of the controversial “More Housing” bill by Portuguese President Marcelo Rebelo de Sousa.

With the real estate investment option no longer available, it's anticipated that the fund investment category will become the preferred route for most investors.

The updated investment options, applicable to all new Golden Visa applications, include:

1. The creation of at least ten jobs
2. Transfer of capital equal to or more than €500,000, applied to research activities by public or private scientific research institutions, integrated into the national scientific and technological system
3. Transfer of capital equal to or more than €250,000, applied to investment or support for artistic production, recovery, or maintenance of national cultural heritage through central and peripheral direct administration services, public institutes, entities that integrate the public business sector, public foundations, private foundations with public utility status, inter-municipal entities, entities that integrate the local business sector, municipal associative entities and public cultural associations, which pursue attributions in the area of artistic production, recovery or maintenance of national cultural heritage
4. Transfer of capital equal to or more than €500,000, intended for the acquisition of shares in specific collective investment organisms, which include certain types of funds, which are incorporated under Portuguese law, whose maturity, at the time of investment, is at least five years and at least 60% of the value of the investments made in commercial companies based in the national territory
5. Transfer of capital in an amount equal to or more than €500,000, intended for the incorporation of a commercial company with a registered office in the national territory, combined with the creation of five permanent jobs, or for the reinforcement of the share capital of a commercial company with registered office in the national territory, already incorporated, with the creation of at least five permanent jobs or the maintenance of at least ten jobs, with a minimum of five permanent jobs, and for a minimum period of three years.

As before, the minimum investment amounts for options 1, 2, and 3 may be reduced by 20% when the investment activity is carried out in low-density territories, defined as areas with fewer than 100 inhabitants per square kilometre or GDP per capita of under 75% of the national average.

Under no circumstances, directly or indirectly, may investments take the form of real estate.

Benefits of a Portuguese Residency Card

Now that you know who can get residency in Portugal, it is worth noting some of the benefits that come along with holding residency in this country:

• Freedom of movement: As a permanent resident of Portugal, investors are also classified as a resident of the European Union. They will gain freedom of movement without restrictions in the Schengen Area.
• Health & Education: Investors and their families can enjoy quality education in schools and universities and world-class healthcare across Portugal and Europe.
• Minimal residency required: The program requires a minimal physical residency in Portugal of 7 days per year.
• Pathway to citizenship: When investors fulfil all the residency program requirements and hold their residency for five years, they are then eligible to apply for Portuguese citizenship.
• High-ranked passport: The Portuguese passport is ranked in the top 5 passports in the world for ease of travel.
• Ease of travel: Once residents of Portugal obtain citizenship, they can then enjoy visa-free or visa-on-arrival travel to over 185 countries and territories, including the USA, Singapore and Hong Kong.

With these advantages in mind, it's clear why many are choosing Portugal as their new home. But what if you want to move with your family? Why is it a great choice, and how do you make it happen? Let’s find out:

Top Reasons to Move Your Family to Portugal and How to Do It

We all want our loved ones to be as safe, secure and successful. Moving your family to Portugal is the best possible way to ensure that this happens. After all, there is a reason why Portugal has one of the highest rates of immigration in Europe.

High Quality of Life, Low Cost of Living

A big reason people choose to acquire residency in Portugal is the country’s high standard of living that provides all first-world comforts and conveniences at an affordable cost. The cost of living in Portugal is 30% lower than in any other country in Western Europe – one of the lowest in the region. Compared to other EU nations like Germany, France and the Netherlands, Portugal’s cost of living is relatively cheap yet still manages to offer world-class healthcare, quality education, warm weather, beautiful architecture, delicious food, pristine beaches, and so much more.

Stable Economy & Better Business Opportunities

Portugal is a diplomatic nation that maintains good relationships with almost every country in the world – which makes for a peaceful society and a stable economy.

In addition, you will gain access to lucrative business and investment opportunities in the EU. The EU’s 28 member states include some of the wealthiest countries and are the world’s largest single market with an economic zone more prominent than the United States and Japan combined – approximately 500 million consumers. So there’s no better place for you or a family member to start or grow a successful business while having complete peace of mind.

Quality Education, Healthcare & Safety

When choosing to reside in Portugal, you will have absolute peace of mind regarding your health and safety. Portugal is one of the safest countries in the world. To be more specific, it is the third safest country according to the 2020 Global Peace Index, the official ranking of the safest countries around the globe. In addition to its high safety levels, Portugal’s healthcare system is truly an international standard. The World Health Organization (WHO) ranks it as the 12th best among United Nations-member countries. You can also be assured that your children will have access to quality education opportunities while residing in Portugal.

Weather, Cuisine & Culture

Portugal has one of the highest rates of tourism and immigration in the whole of Europe. And there is a good reason for this – the country is a bonafide paradise. Residents enjoy year-round warm weather from the comfort of pristine beaches and beautiful architecture that is nothing short of a feast for the eyes. The country is also known for its vibrant culture, welcoming people and delectable cuisine. Travellers flock from every corner of the globe to experience the magic of Portugal – some love it so much that they end up staying forever. When moving your family over, you’ll never want to leave too.

Freedom of Movement Within the Schengen Zone

As a resident of Portugal, you are also recognised as a resident of the European Union. Portuguese residents have the right to travel freely without restrictions throughout the entire Schengen Area. This means that you’ll be able to visit all 28 EU member states and have access to all that the region has to offer without any hassles. Family vacations get a lot more exciting when you are living in Portugal.

Secure A Prosperous Future

Obtaining residency through the Portugal Golden Visa Program provides an indirect, legal path to citizenship in the country. After successfully meeting all the program requirements and holding residency in Portugal for 5 years, individuals are then eligible to apply for Portuguese citizenship. This means that you and your family can live, work, study and travel freely throughout the Schengen Zone for generations to come, effectively securing a prosperous present and future for you and your family.

How to Move Your Family to Portugal

Non-EU nationals can obtain legal residency in Portugal by applying to the country’s residency by investment program, also known as a Golden Visa Program. Launched in October 2012, the Portugal Golden Visa Program is a legal process based on the law that invites foreign investors from non-EU countries to obtain fully valid residency permits in Portugal for themselves and their families.

The application process consists of a few simple steps and requires applicants to meet the minimum criteria to qualify for the program. If successful, applicants will then need to purchase property in Portugal or make an alternative investment into the country – such as job creation or investing in a small local business – before the application can be filed.

Successful applicants will receive their residency permit and will gain the right to live, work, travel and study in Europe as well as gain access to Portugal’s healthcare and consumer rights. Portugal has a minimal residency that requires residents to visit the country for only 7 days per year for 5 years – the rest of the time can be spent wherever they wish.

Who Can Move to Portugal?

Any individual from any non-EU country may apply to the program as long as they meet the stipulated requirements. Applicants must be at least 18 years of age, in good health, possess no criminal record, have confirmed investment sources and successfully pass due diligence checks.

Individuals can apply as single applicants or as a family. Family members that can be included in the application are:

• The main applicant’s spouse
• Children (biological or adopted) under the age of 18
• Parents dependent on the main applicant
• Children over the age of 18 who are dependent on the main applicant

Book A Free Consultation

Before applying to any Residency by Investment program, individuals must ensure that they are rendering the services of a government authorized agent and advisor like Savory & Partners. The internet is rife with fraudulent companies offering scams that promise citizenship within an implausible timeframe and at an impossibly low price. If it’s too good to be true, then it probably is.

As a British Authorised Agent with decades of experience and over 900 families approved, Savory and Partners specialize in granting second citizenship and passports to High-Net-Worth investors from the Middle East and beyond.

If you are interested in applying for Portugal’s Residency by Investment Program or have a few questions and queries you would like cleared up, book a free online consultation today and one of our agents will happily aid you in securing a better, prosperous future for you and your family.