If you’re considering obtaining a Golden Visa Portugal in 2023, one of the requirements is investing in property. Portugal is known for its beautiful beaches, historic cities, and affordable real estate, making it a popular choice for investors.
But with so many options available, how do you choose the right property for your Golden Visa application?
In this post, we’ll give you some tips to help you make the right choice.
What is a Golden Visa?
A Golden Visa is a type of residency-by-investment program that allows non-EU citizens to obtain residency in a European country by investing in its economy.
The Portugal Golden Visa program is one of the most popular in Europe, as it offers a number of benefits, including visa-free travel within the Schengen Area, access to Portuguese healthcare and education, a pathway to European citizenship, and affordable real estate investment opportunities.
Benefits of the Golden Visa in Portugal in 2023
Before we dive into how to choose the right property, let’s briefly review the benefits of obtaining a Golden Visa in Portugal in 2023.
- Visa-free travel within the Schengen Area: With a Portuguese Golden Visa, you can travel freely throughout the Schengen Area without the need for a visa.
- Access to Portuguese healthcare and education: Portugal’s healthcare and education systems are known for their high quality, and Golden Visa holders can take advantage of these services.
- Pathway to European citizenship: After five years of residency in Portugal, Golden Visa holders can apply for Portuguese citizenship and gain the ability to live and work in any EU country.
- Affordable real estate investment opportunities: The Golden Visa program requires a real estate investment in Portugal, which can be an attractive option for investors looking to diversify their portfolios.
How to Choose the Right Portugal Golden Visa Property
Now, let’s talk about how to choose the right property for your Golden Visa application.
- Location, location, location. Consider the location of the property carefully. Is it in a desirable area? Is it close to public transportation, schools, and other amenities? Remember that a well-located property will be easier to rent out or resell in the future.
- Investment potential. Look for properties that have good investment potential. Is the area experiencing growth? Are there plans for new infrastructure or development? A property with strong investment potential will not only help with your Golden Visa application but also provide a solid return on investment in the long run.
- Rental income. If you plan to rent out the property, make sure it has good rental potential. Look for properties in areas with high demand for rentals, such as tourist destinations or university towns.
- Condition of the property. Make sure the property is in good condition and doesn’t require extensive renovations. The Golden Visa program requires a minimum investment of €280,000.
- Work with a reputable real estate agent. Working with a reputable real estate agent who is familiar with the Golden Visa program can make the process much smoother. They can help you find properties that meet the program’s requirements and guide you through the application process.
How to Apply for a Golden Visa in Portugal in 2023
Eligibility Criteria
To be eligible for a Golden Visa in Portugal, you must meet the following criteria:
- Be a non-EU citizen
- Make an eligible investment in Portugal
- Be over 18 years of age
- Have no criminal record
- Have valid health insurance
Application Process
The application process for a Golden Visa in Portugal is straightforward and can be completed in a few simple steps:
- Choose your investment option
- Gather the necessary documents (e.g., passport, proof of investment, etc.)
- Apply for a residency permit at a Portuguese consulate in your home country
- Obtain a temporary residency permit in Portugal
- Complete the investment within six months of obtaining the residency permit
- Obtain the Golden Visa
Timeline & Cost
The timeline for obtaining a Golden Visa in Portugal can vary depending on your investment option. Generally, the process takes between ten and twelve months.
Portugal golden visa timeline
Month 1-3
Application starts here
Get a NIF number,open a bank account € make your investment
Month 10th
Get your golden visa
You and your family get a two years valid care after submitting your fingerprints
Year 2
Renew your residence permit
In these two years,you must have spent 14 days in portugal to renew your card
Year 4
2nd renew or residence permit
With each renewal your residence permit will be extended for anothwer 2 years
Year 5
Apply for citizenship
At the end of the fifth year,you can apply for Portuguese citizenship or permanent residency
The numbers in the above calculator – as outlined in the disclaimer – are infomative only and a specific calculator is sent for each project. Contact us if you wish to receive a calculator for a project. You can view our Portugal Golden Visa property portfolio here. Why do we send a specific calculator for each project? Because each developer and each project has some unique investment dynamics.
Select Your Investment
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Disclaimer: This calculator refers to standard values for the Portugal Golden Visa. A specific calculator will be sent upon request for each project.
Obtaining a Golden Visa in Portugal in 2023 can be a great investment opportunity that offers numerous benefits, including visa-free travel, fast-track citizenship, tax benefits, and real estate investment.
However, with the program set to end in 2022, it’s essential to act fast if you’re considering obtaining a Golden Visa in Portugal. For more information on the new changes, you can refer to our latest post Portugal Golden Visa 2023 new changes.