Portugal Golden
Visa

Portugal Golden Visa from UAE: An Overview

UAE citizens looking to invest in Portugal can apply for the Portugal Golden Visa, a residency permit that grants the right to live and work in Portugal. This visa is obtained through qualifying investments such as property purchases, capital investments, or creating job opportunities in Portugal.

One of the key benefits of the Golden Visa program is the pathway to Portuguese citizenship. After maintaining your investment and residing in Portugal for at least 5 years, you may be eligible to apply for citizenship, granting you the right to live and travel within the European Union. However, you only need to spend a minimum of 7 days per year in Portugal to maintain your residency status under this program.

Portugal Golden Visa Investment Options for UAE Citizens

To qualify for the Portugal Golden Visa, you need to make one of the following investments:

• Investment Fund: Invest at least €500,000 in a qualifying investment fund, typically targeting startups or tech companies without real estate ties.
• Capital Transfer: Transfer €500,000 or more to establish a business headquartered in Portugal or increase the share capital of an existing company while creating at least 5 permanent jobs.
• Job Creation: Create at least 10 full-time jobs for Portuguese citizens.
• Research and Development: Contribute a minimum of €500,000 to scientific or technological research activities conducted by public or private institutions in Portugal.
• Cultural Support: Donate at least €250,000 to support the preservation of national heritage or the arts in Portugal.

Latest Updates on the Portugal Golden Visa

As of late 2023, the following changes were made to the Golden Visa program:

• Capital transfers of €1,500,000 or more are no longer accepted.
• Real estate purchases of at least €500,000 are no longer eligible.
• Investments in the renovation of properties older than 30 years, with a minimum of €350,000, are no longer valid.
• Real estate investments in low-density areas (minimum of €400,000 or €280,000) are no longer permitted.
• Investments in funds with direct or indirect real estate holdings are no longer allowed.

Requirements and Eligibility for the Portugal Golden Visa

To apply for the Portugal Golden Visa, UAE citizens must provide the following:

• A valid UAE passport.
• Two passport-sized photos that meet the Portuguese visa requirements.
• Proof of health insurance valid in Portugal.
• Police clearance certificates from all countries of residence for the past year, translated into Portuguese and legalized.
• A declaration stating that the investment will be maintained for at least 5 years.
• Proof of payment for the application through the ARI website.

NIF Number and Bank Account Requirements

To participate in the Portugal Golden Visa program, you must:

1. Obtain a NIF (Número de Identificação Fiscal) – the Portuguese tax identification number, required for financial transactions, investments, and legal matters in Portugal.
2. Open a Portuguese bank account after acquiring the NIF number. These steps must be completed in this order.

Opening a Portuguese Bank Account

While some banks in Portugal allow you to open an account online, most require an in-person visit to one of their branches. Despite this, the process is quite straightforward, and gathering the necessary documents isn’t too complicated. Requirements may vary slightly depending on the bank, but generally, you’ll need the following:

• Proof of Identity: A valid passport or other recognized ID.
• Proof of Residency: A recent utility bill or official letter from the last three months showing your full name and address.
• NIF (Número de Identificação Fiscal): Your Portuguese tax identification number.
• Proof of Employment or Income: This could be your latest payslip or a letter from your employer. If you’re unemployed, you can still open a bank account if you provide proof of registration with the Portuguese employment center or a written job offer.
• Portuguese SMS Activation Number: A local phone number is required for SMS notifications.
• Initial Deposit: Typically, a cash deposit ranging from €250 to €300 is needed to open a new account.

After gathering these documents, choose the bank that best suits your needs. You can also opt for an online bank account, which has become popular among expats, digital nomads, and frequent travelers. Note that you don’t need to be a Portuguese resident to open a bank account in Portugal.

How Much Does the Portugal Golden Visa Cost?

Applicants for the Portugal Golden Visa are required to pay several fees, including renewal costs. Here’s a breakdown of the expenses:

• Application Processing Fee: €533 for the main applicant.
• Dependent Fee: €84 for each dependent.
• Initial Application Fee: €5,325 per applicant.
• Renewal Fee: €2,663 per applicant.
• Renewal Processing Fee: €533 for each renewal.

Residence Permit Costs in Portugal:

• Temporary Residence Permit: €73
• Permanent Residence Permit: €222

How to Apply for the Portugal Golden Visa from the UAE

1. Contact Republic Immigration Services
   Start by reaching out to us at Republic Immigration Services. Our experts will help you identify the best investment option for your situation and guide you through the application process. You can begin the process either individually or with your dependents. Call us today at +971 55 708 0213 for immediate assistance.

2. Obtain NIF and Open a Bank Account
   Next, get your NIF (Portuguese tax number) and open a bank account in Portugal. We can help you find a bank that lets you open an account without being physically present in Portugal. Since UAE citizens can enter Portugal visa-free for 90 days, you can complete this step during a short visit.

3. Collect the Required Documents
   Ensure you have all the necessary documents ready before starting your application.

4. Make the Investment
   After reviewing your investment options, proceed to make your investment. Our team will assist you in preparing the necessary paperwork to secure your investment.

5. Submit a Preliminary Application
   Once your investment is complete, submit a preliminary application to SEF (Portuguese Immigration and Border Service). SEF will review your investment to check if it meets the Golden Visa requirements. You’ll need to:

   • Register on the ARI (Residence Permits for Investment Activities) portal.
   • Upload all supporting documents.
   • Provide proof of payment for all visa-related fees.
     You can either do this yourself or grant us power of attorney to manage the application on your behalf.

6. Provide Biometric Data
   If your pre-application is approved, SEF will invite you for biometrics collection within 2 to 6 months. Schedule an appointment in advance to submit your biometric data in Portugal. The average waiting time for this appointment is about 2 months.

7. Receive Your Residence Permit
   If your application is successful, SEF will approve it, and you can then travel to Portugal. Upon arrival, you’ll attend an interview with SEF. Once the visa issuance fee is paid, you’ll receive your residence permit.

Processing Time:
Typically, it takes 8 to 10 months from the initial assessment to the issuance of residence permit cards.

Can the Portugal Golden Visa Application Be Rejected?

Yes, applications can be denied. If rejected, SEF will first send a rejection notice, giving you time to provide additional evidence or clarification. If the rejection is confirmed, you can appeal the decision with the issuing administrative body or in court.

Common mistakes that lead to rejection include:

• Submitting untranslated or non-apostilled documents (e.g., birth or marriage certificates).
• Providing outdated criminal records (older than 3 months).
• Failing to prove familial connections for dependent applications.

Portugal Golden Visa: Validity and Renewals

Validity:
The initial Portugal Golden Visa is valid for 12 months. After that, it can be renewed every 2 years, provided the investment is maintained. After 5 years of holding the visa, you may apply for Portuguese citizenship.

Renewals:
Golden Visa renewals can now be done online. SEF’s automated renewal system is quick and efficient. Many applicants have received their new residence cards within 2 weeks. Since SEF already has the initial application documents, there’s no need to resubmit biometrics or criminal records for renewals.

Permanent Residency and Citizenship
After 5 years, you can apply for permanent residency or citizenship in Portugal without having to reside in the country during that period. You only need to visit Portugal for 2 weeks every 2 years to maintain eligibility.

To obtain Portuguese citizenship, you must:

• Hold a Portuguese residence visa for at least 5 years.
• Pass an A2-level language proficiency test (basic conversational Portuguese).
  The test is mainly multiple-choice and can be retaken if necessary.

Benefits of the Portugal Golden Visa

1. Freedom to Move Across Europe
   With a Portugal Golden Visa, you can travel freely within the Schengen Area and, after 5 years, apply for Portuguese citizenship.

2. Path to EU Citizenship
   Portuguese citizens can live, work, and study anywhere within the EU. They also enjoy visa-free travel to over 188 countries, including the UK, USA, Canada, and Australia.

3. Access to High-Quality Education
   Golden Visa holders can enroll their children in Portuguese schools and universities, which are recognized across the EU. Tuition fees range from €1,500 to €12,000 per year, depending on the institution and program.

4. Robust Healthcare System
   Portugal offers a reliable healthcare system with affordable public and private medical services. Public hospitals charge nominal fees (e.g., €4 for consultations), and private clinics provide high-quality care.

How Republic Immigration Services Can Help

At Republic Immigration Services, we make the process of obtaining a Portugal Golden Visa simple and stress-free. Here’s how we can assist you:

• Choosing the Right Investment: We help you select the best investment option that matches your financial goals.
• Guiding You Through the Application: Our team walks you through every step, ensuring all forms are completed accurately and on time.
• Document Preparation: We assist you in gathering and verifying all required documents, minimizing delays.
• Ongoing Support: From opening a Portuguese bank account to renewing your Golden Visa, we provide continuous support.

Our experienced immigration consultants are dedicated to making your journey to Portuguese residency as smooth as possible.

For expert advice and personalized assistance,

contact us today at +971 55 708 0213 or reach out to us online.

FAQ: Portugal Golden Visa

Why Is Portugal Cancelling the Golden Visa?

Portugal is not fully cancelling the Golden Visa program. Only the real estate investment option has been removed, but other investment routes are still available.

Can I Travel to Europe with a Portugal Golden Visa?

Yes, the Portugal Golden Visa allows you to travel freely within the European Union and the Schengen Area.

What Are the Tax Implications of the Portugal Golden Visa?

You won’t have to pay income tax in Portugal if you don’t declare it as your primary place of residence. This is advantageous for Golden Visa holders who don’t live in Portugal full-time.

Can I Include My Family in My Portugal Golden Visa Application?

Yes, you can include your spouse and dependent children in your Portugal Golden Visa application, allowing your family to obtain residency as well.