Portuguese Golden Visa Residency FAQs

The process for applying to the Portuguese Golden Residence Permit can prove to be lengthy and confusing for overseas investors. Select Resorts Properties is proud to have a number of Portuguese property investment specialists within the team, who are on hand to support you every step of the way throughout your application process.

To help you along, we've provided a brief list of frequently asked questions regarding the Portuguese Golden Visa residency application process. Click on the questions to view the answers. If you've got any additional questions, please do not hesitate to call us on +44(0)1202 765011 or email [email protected] to talk to us today.

How long is the Golden Visa valid for?

Once issued, the Golden Visa will be valid for an initial period of 1 (one) year and then will be renewed for subsequent periods of 2 years.

Should I have a personal bank account and TAX number in Portugal?

Yes it is necessary to open a personal bank account and obtain a fiscal number.

What is a Fiscal Number?

A fiscal number is an identification number before the Portuguese Tax Authorities (also known as the tax number). This number is required to carry out property investments in Portugal.

How long will it take to be granted the residency permit?

Generally within 45 days.

What kind of document does the applicant get if their residence permit is approved?

The applicant will obtain a residence permit authorization card, which will serve as an ID or travelling document and can be used for ID purposes in Portugal and other European Union countries that have signed up to the Schengen agreement.

What is the Schengen Area and what are the countries included?

The Schengen Area is a group of European countries that have abolished passport and immigration controls at their common borders. With a resident permit from Portugal, the investor is entitled to enter and travel freely throughout all the countries of the Schengen area.

The Schengen Area includes the following countries: Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, The Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, Switzerland.

Is there a limitation of family members?

No.

Who are considered members of the family?

The spouse, minors or children who are under guardianship of the couple or of one of the spouses. Minors adopted by an unmarried applicant, by a married applicant or by the spouse, Children who are of age and of whom the couple or one of the spouses is in charge, that attend a teaching institution. Progenitors in the first ascending line of the resident or the respective spouse, provided they depend from either of those.

What kind of identity do children who are born in Portugal have?

Children born in Portugal can apply for Portuguese nationality.

What happens to the investment after 5 years? Can I sell my property?

Yes, the investor only needs to hold the investment during the Golden Visa’s validity period – 5 years.

Does the investor need to live in/use the property he is purchasing or can it be rented out?

No. The investor does not need to occupy the property and it can be rented out to obtain income.

How long do I have to stay in Portugal to achieve my residency?

7 days for the first year and 14 days in the following and subsequent two biannual periods.

What are the taxes and costs for property acquisitions and ownership?

a) Payable with the property’s acquisition: - “IMT” or Property Transfer Tax”, which is the tax on transfer of ownership of property - Stamp Duty
b) Payable on an annual basis: “IMI” or Council Tax, which is the annual municipal property tax; it is levied between 0.3% and 0.5% on the property’s tax value

With the Golden Visa does the investor need to pay taxes in Portugal on his worldwide income?

No. If the holder of the golden visa does not stay in Portugal for more than 183 consecutive days, he/she will not be required to pay taxes for income generated outside of Portugal.

What income taxes apply to income generated in Portugal?

Rental income and income arising from capital (e.g. interest, dividends, etc) will be taxed at a rate of 28%.