Current status and advice on the Golden Visa programme in Portugal

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The Golden Visa Programme, approved by the Portuguese government in 2012, was designed to invite non-European Union citizens to make investments in Portugal and consequently be granted the right to live and work in the country.

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The scheme has been highly attractive due to its numerous advantages, including easy access to other Schengen Area European countries, and a simplified path to obtaining Portuguese citizenship.

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Golden Visa Recent Amendments

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As of October 9, 2023, the Portuguese government announced that the Golden Visa programme will no longer accept the option of investing in real estate to acquire a residency permit. Furthermore, the option of transferring €1.5m into a Portuguese bank account to acquire residency is also no longer accepted.

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If you're interested, it's crucial to consult with one of our visa experts to understand your options before any other Portuguese Government amendments come into effect.

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Benefits of the Golden Visa Programme

The Golden Visa Programme offers a wealth of benefits:

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• Residency: The visa granted the right to live in Portugal.

• Employment: Visa holders could legally work in Portugal.

• Education: The visa enabled access to the Portuguese education system.

• Healthcare: It provided access to public healthcare services.

• Travel: It granted unrestricted travel within the European Schengen Area countries.

• Citizenship: A simplified and fast-tracked pathway to Portuguese citizenship was available to visa holders.

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‍Who is eligible for the Golden Visa?

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‍To be eligible for the Golden Visa, you must be a non-EU citizen and meet some  investment requirements.

Here are a few popular investment options:

• An Investment amount of €500,000, in an existing Portuguese business or company.

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• The investment must create jobs for at least 3 years and increase the business share capital.

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• A donation of at least €250,000 in art or reconstruction of national heritage

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• A donation of €500,000 to scientific institutes of research

In addition to the investment requirement, visa applicants must also have a clean criminal record and meet the basic health requirements.

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Cultural Production Golden Visa

Portugal introduced a new Cultural Production Golden Visa option in 2024, offering an affordable pathway for individuals to obtain Portuguese residency by investing in cultural projects. The programme aims to support the Portuguese art scene and promote cultural heritage preservation.

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Eligibility Requirements

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To qualify for the Cultural Production Golden Visa, applicants must meet the following criteria:

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1. Invest €200,000 (or €250,000 outside low-density areas) in "artistic production" projects in Portugal.

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2. The project must be approved by the Directorate-General for Arts (DGArtes) or the Instituto de Conservação e Restauro (Instituto dos Museus e da Conservação).

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3. The project must contribute to the development of Portuguese culture or heritage.

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4. Be a non-EU citizen

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Investment Options

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There are two investment options under the Cultural Production Golden Visa:

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1. Artistic Production Funding: Invest in the creation, production, or dissemination of cultural and artistic activities in Portugal. This could include funding theatre productions, musical concerts, art exhibitions, or literary events.

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2. Donation to Cultural Heritage: Make a donation of €200,000 (or €250,000 outside low-density areas) to a Portuguese cultural heritage institution or project. This could support the preservation of historical landmarks, archaeological sites, or cultural archives.

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To learn more about Portugal's visa options, please read our in-depth guide...

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Disclaimer: The guidance above should not be fully relied upon and does not constitute formal instructed professional advice. In relation to tax advice in Portugal, please engage and instruct a regulated professional for all tax advice and structured financial planning. Please contact Portugal Pathways if you would like an introduction to one of our professional advisors.

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