Exploring Portugal Golden Visa program. To the Lisbon Riviera - for warmth and comfort

Portugal is one of the few European Union countries that have an active Golden Visa program that offers a residence permit. The program has various options and is particularly popular among investors from Russia and other post-Soviet countries. The process of obtaining residency takes 4 to 9 months, depending mainly on the waiting time for biometric data submission. Moreover, the Golden Visa can be granted not only to the main applicant but also to their family members: the spouse, children up to 26 years old if they are financially dependent on the applicant, and economically dependent parents over 65 years old.

This caught the attention of Rostislav S., an IT specialist from Kyiv. He had always liked Portugal and wanted to live there. As soon as Rostislav had gathered the necessary funds, he immediately set out to fulfill his long-held dream. It was crucial for our client that the entire family obtain citizenship, as he is a father of three children.

For reference: Despite the wide variety of options, investors most often choose to obtain residency by purchasing Portuguese real estate. These investments have different minimum thresholds: €500,000, €350,000, or €280,000, depending on the type of property and the region in which it is purchased. You can find more detailed descriptions of all the options on our website GARANT.in.

How did our cooperation with Rostislav proceed? Let’s review it step by step.

Step 1: Preliminary check and contract signing

Rostislav sent us his documents via Telegram, and the next day, our lawyers conducted a complete preliminary review of the documents, assessed the risks, and evaluated the likelihood of a positive response from the Portuguese authorities.

This preparation usually takes a few days, but in this case, we managed it in just one. Rostislav was given the “green light,” after which we proceeded to sign the contract and begin our cooperation.

Step 2: Document collection

The essence of this stage is a more in-depth review and collection of client documents. Rostislav provided the following documents:

• Signed legal support agreement
• Marriage certificate
• Colored copies of birth certificates for all family members
• School certificates for children over 18
• Employment certificates for Rostislav and his wife
• Colored copies of passports of all adult family members
• Tax identification numbers (TIN) for all adult family members

We conducted a TIN check, prepared a certificate of no criminal record, and translated, apostilled, and notarized the aforementioned documents.

Additionally, we prepared and sent Rostislav two important powers of attorney:

1. For opening a tax number and a bank account in Portugal (Rostislav signed and returned this power of attorney)
2. For purchasing real estate in Portugal and submitting residency documents

Step 3: Bank account opening, real estate purchase, and TIN (remotely)

At this critical stage, our work included the following:

• Opening a bank account for Rostislav in a Portuguese bank
• Obtaining a TIN for him in Portugal
• Selecting suitable real estate properties in Portugal according to Rostislav's preferences
• Conducting comprehensive checks on the properties for any legal issues, liens, or debts

Acting on behalf of the client, our lawyers signed a preliminary purchase agreement with the owner of the selected property. Rostislav chose a 3-room apartment with a living area of 153 m² in the city of Sintra.

During this stage, Rostislav:

• Paid a deposit of €10,000
• Paid a prepayment of €3,000 for legal services
• Transferred the remaining sum to the property owner's account using the bank account we opened for him

Step 4: Real estate purchase agreement and submitting documents for residency in SEF Portugal

At this stage, we handed Rostislav the real estate purchase agreement for his Portuguese apartment, along with all other ownership documents.

Acting on his behalf, we also submitted his documents for the residency card. During this time, the following fees were paid:

• Application fee for residency: €533.9 for the main applicant and €83.3 for each family member
• Residency card fee: €5336.4 for the main applicant and €2668.2 for each family member

Additionally, Rostislav paid €3,000 for legal services. The entire process took one week.

Step 5: Biometric data submission

Three months later, the submission of biometric data took place.

Rostislav needed to visit Portugal. He received a letter from us confirming the importance of his trip. As a Ukrainian citizen, he did not need a Schengen visa, but for Russian citizens, we assist in obtaining visas in advance.

Upon arrival in Portugal, he was met by our lawyers, who guided him through the biometric submission process.

Step 6: Document submission and residency card issuance

After the biometric data was submitted, the complete set of original documents was submitted to the Portuguese government authorities. In this case, the review process took exactly 3 months.

As a result, Rostislav was issued a residency card, which was sent to him via DHL.

Post-service

According to the terms of the Portuguese Golden Visa, it is initially issued to investors for 1 year. After that, as long as the investment conditions are maintained, it can be renewed twice, each time for 2 years. According to our contract with Rostislav, we can handle all the residency renewal paperwork. The prepayment for legal support for renewal is €3,000 for each renewal.

Permanent residency or citizenship application

We strive to continue assisting our clients, aiming for long-term cooperation. After 5 years of residency, Rostislav will be eligible to apply for permanent residency in Portugal. He will only need to pass a language exam.

Our task will be to collect and submit the necessary documents for permanent residency using a power of attorney. Just like with the residency application, fees for submitting the application will apply, which are the same: €533.9 for Rostislav and €83.3 for each family member.

From our previous clients' experience, we can say that the permanent residency application process takes no more than a week.

One of the key reasons for the popularity of Portugal's investment program is the opportunity to quickly obtain full citizenship in this country, which automatically grants EU citizenship! A Portuguese passport is among the top ten most “powerful” in the world, and Portuguese law recognizes dual citizenship, meaning you will not need to give up your original passport.

We don't know if Rostislav will want to pursue Portuguese citizenship, but if he decides to (6 years after initially obtaining residency), we will be happy to assist him. Our lawyers will gather all the necessary documents, just like for the residency application, and personally submit them to the Portuguese Citizenship Department. Typically, the review process for citizenship takes no more than 4 months.

Important!

Once citizenship is obtained, you are free to sell the property that served as the basis for your residency renewals. We emphasize that the law does not prohibit investors from renting out the property immediately after obtaining residency. In some cases, the profit can be around 6% annually. Therefore, by the time citizenship is granted, the investor may sell the property with a 36% return.

FAQ

Can I apply independently without the help of a company?

Yes, but think carefully before doing so. You are investing significant funds, and it's not advisable to take unnecessary risks. Additionally, investors who use the services of companies have a higher chance of receiving a positive response.

Do the documents need to be translated into Portuguese?

Yes, even English-language documentation is not accepted.

Do I need to pay taxes in Portugal?

Although you do not automatically become a Portuguese tax resident, you must pay taxes related to your investments.

How do I become a Portuguese tax resident?

You must live in Portugal for 183 days a year (consecutively or non-consecutively).

Is it necessary to pay social security contributions?

It's not mandatory, but if you don't, you'll need to cover medical expenses on your own.

What is the healthcare system in Portugal like?

While in Portugal, residents can access services from a family doctor who provides vaccinations, primary care, and referrals to specialists. Hospitals offer inpatient care, outpatient consultations, and emergency services.

Can children attend Portuguese educational institutions?

Yes, the children of residents can attend kindergartens and schools. There are no fees for attending public schools.