As you plan to apply for the Portuguese golden visa program, there are some basics you should understand. They reveal what this interesting program is all about and how you can have a smooth application process.
This will help you to make fast and informed decisions because you understand all the procedures. Fortunately we have compiled these things below to give you more clarity on the Portuguese golden visa program.
1. Variety of Investment Options
One of the most amazing things about Portugal’s golden visa program is that it offers several investment options. This gives all interested people the freedom to invest in their favorite ventures. You can either inject the money in business or give it out as a donation.
Some investment options include investment funds, and starting a company that can employ a minimum of ten people full time. Besides that, you can also donate to art and culture or finance scientific and technological research of any accredited educational institution in Portugal. Starting a company and injecting the money into investment funds can be profitable in the long run. But with the donations, you can’t recover the money.
2. Long Processing Period
The Portuguese golden visa program calls for some patience when applying for it. This is because the process doesn’t take only a few weeks and months but takes longer than that. Its time frame is one year and six months to complete all the application procedures.
It is enough time for you to look for the best qualifying investment. Moreover, it allows you to work on all your papers and ensure they are ready when the immigration office asks for them. Also, the long period gives immigration officers ample time to verify your papers. And look into your criminal background to ensure you don’t pose any harm to Portuguese citizens.
3. Varied Capital Requirement
All the qualifying investment options of the program have varied capital requirements. Some need more money while others less. This gives both high and low income earners an opportunity to afford the golden visa program. Investment in a fund has a minimum requirement of 500,000 Euros.
It is the best option for people with more money. But the cheapest option is creating 10 jobs. You can establish a small company using the funds you have as long as you create the needed employment opportunities. Donations also have a small capital requirement of only 250,000 Euros. But the bad thing is that you can’t recover the money given out.
4. Offers Family Benefits
The program also has family benefits where by you can apply with all your dependents. You won’t have to leave your beloved people behind. But you can involve or add them to your program and move to Portugal together.
Another thing about it is that you can also apply for citizenship. After staying for over five years, you can apply to become a full citizen. You should have a clean criminal record both in your home country and Portugal to improve your chances of getting citizenship fast.
Move to Portugal
After understanding the application procedure for Portugal’s golden visa program, you can start on the process.