The success of the Golden Visa Program in Portugal has made people realize that anyone can get a second passport, not just high net worth individuals. All it takes is a small investment and your own decision to become a citizen in another part of the world. It is also a very popular options after the D7 visa Portugal.
People are surprised when they realize how simple it is to apply for the Golden Visa Program. The government of Portugal has made foreign investment in the country mostly obstacle free making the application process one of the easiest in the world.
Before starting the application process the first thing you have to do is select which type of investment you will be making to submit for the Golden Visa Program. Portugal offers different types of investment in which any foreigner can apply.
The most popular investment option offered by Portugal is the purchasing of property. There are different options valued at €500,000, €400,000, and €350,000. They all have different requirements in order to be approved, but all of them involve you buying real estate in Portugal and in some cases renovating the house you just purchased.
Another type of investment options offered by Portugal are business related and involve investing in a Portuguese company or creating a certain number of jobs. In other words, you have to create an economic impact in the country.
There are two popular business investment options that end with you obtaining a Golden Visa. In the first one you have to transfer a total of €1,000,000 Euros of capital to an existing company. The second option requires you to deposit €350,000 to an existing Portuguese company and create at least 5 jobs.
In order for these investments to go through you must first be approved by the Portuguese government. This means having all of your financial affairs in order and having no criminal background record whatsoever.
A criminal record can destroy your application, so if you have one I highly advise you make everything you can to make it disappear. Also, make sure to talk to your accountant and your banker to report any red flags with any of your accounts.
Once this is in order what follows is the application process. The first thing you have to do is select the type of investment you will be doing. The next thing is obtaining and submitting all of the required documents. Our professionals at Global Citizen Solutions will gladly help you with this. After your documents have been approved the next thing you will have to do is get a fiscal tax number and use it to open a bank account in Portugal. You won’t be able to do much in Portugal without a NIF or a bank account so this step is very important.
The last thing you have to do before presenting yourself to Portuguese authorities is to finalize your investment. In this step you have to transfer the money to the aforementioned account. Like I mentioned beforehand, there can’t be any controversies regarding the transfer of the finances or any questions involving where the capital is being held.
Do not confuse the immigration department of the United States with the one in Portugal. You will find the Portuguese government to be more lenient and easier to handle. Dealing with Portuguese immigration is fast and simple and it is the last step of the process.
Finally, you will be sent a card of approval and you will be given a Portuguese residency. After five years that residency can turn into a citizenship and you obtain a second passport from Portugal and reap all of the benefits that come with it.