Over the years, the Portuguese golden visa has continued to gain popularity among many investors. As such, many people have shown interest in knowing what the latter encompasses. Here are some of the frequently asked questions and their answers.
FAQs about the Portuguese golden visa
What is a Portugal golden visa?
The golden visa was primarily introduced to stimulate economic growth. It was launched in the year 2012. This program was meant for foreign investors with intentions of investing in Portugal. As such, with this visa, you get a residence permit in Portugal. Before qualifying for the golden visa, one has to meet some investment requirements as stipulated by the law.
What are the benefits of having a golden visa?
Having a golden visa has numerous advantages. One, it allows you to work and reside in Portugal even with another residential area in a different country. Secondly, there is no need of acquiring a visa so that you can travel in any European country. Thirdly, it is possible to move with your family to Portugal. Other benefits include, one can acquire citizenship after six years. More to this, if both you and your family members desire to relocate to Portugal, you are assured of permanent residence after five years.
How much will the golden visa cost?
There is no much expense incurred in acquiring the Portugal golden visa. An individual pays close to 520 Euros for processing the golden visa per person. The initial golden fee for family members and renewal fee for the golden visa are the only major expenses you can incur in the process.
Is it possible to extend the visa to family members?
The answer is yes. Golden Visas Portugal allow all family members and other dependents to acquire a residential permit. To make it even better, it is possible for the family members to acquire citizenship after the lapse of the six years. All your family members may receive permanent residency only if they are legally legible for the same.
What area does the Schengen area cover?
The Schengen area includes 26 European countries. Some of the countries covered in the Schengen zone are Germany, Italy, France, Netherlands just to mention a few. All these countries have adopted a common visa across their borders. As such, the golden visa gives you a chance of touring these countries.