Renewal of a Portugal Golden Visa Extending a Portuguese Residence Permit

Portugal Golden Visa is a visa granted to foreigners who invest in the country’s economy.

The minimum sum is €250,000, and it must be invested in supporting arts or restoring cultural heritage. Other options, such as the purchase of investment fund units, business investment, and contribution to research activities, require at least €500,000. There is no established minimum sum if the investor opens a company and creates 10 jobs.

To maintain the status, a foreigner must spend at least 7 days a year in the country. They are not required to live in the country permanently.

To renew a Portugal Golden Visa, an investor must collect a similar package of documents as for the first time.

The documents for renewal are the following:

• a passport;

• an application form;

• a previous Portuguese residence permit card;

• a certificate of no criminal record if you live outside Portugal;

• a permission to Portuguese authorities to check for criminal background in Portugal for each person over 16;

• documents proving the applicant has no tax debts in Portugal;

• health insurance for the applicant and all family members;

• a receipt proving the payment of government fees.

When renewing a residence permit, the applicant doesn’t need to make another investment.

While applying for renewal, the applicant must pay government fees. That includes €582 for analyzing the application and €2,906 for the renewal itself.

The applicant buys and provides health insurance for every family member who is renewing their visas alongside them. The average cost of one insurance is €400.

Portugal Golden Visa is issued for 2 years and can be extended for another 2 years an unlimited number of times. If you’re planning to obtain citizenship or permanent residency, you have to renew a residence permit at least two times.

You must start the process of extending your document at least 30 days before the expiration date of your previous one. Otherwise, your residence permit can be revoked, and you would need to start the process of obtaining a Portugal Golden Visa from scratch.

The only exception for not applying in time is a force majeure. For example, you can’t leave the country due to the pandemic.

The process of Portuguese Golden visa renewal takes less time than the initial obtainment of it. The application is considered within 1—2 months. So, with the time required for the collection of documents, the process is usually no longer than 3 months.

The visa can be renewed online. To do that, a foreigner must register on the platform AIMA

You are eligible to apply for permanent residency or citizenship in Portugal after having the status of a resident for at least 5 years. You don’t need to live in the country for the whole time or pass any exams.

You must only meet the program requirements:

• spend at least 7 days in Portugal each year — 35 days in total during 5 years;

• keep the investment;

• regularly renew a residence permit.

With a Portugal passport, you can live in any EU state and travel to 172 countries visa-free.

1. Safe haven and moving to Portugal. Investors and their families receive the right to live in Portugal for as long as their residence permits are valid. They can enter the country even if the borders are closed to foreigners.

2. Travel freedom. The visa grants the freedom to travel within 27 states of the Schengen Zone, which includes most European countries, without the need for an additional visa.

3. Path to citizenship. Golden Visa holders can apply for Portuguese permanent residency or citizenship five years after obtaining a residence permit.

4. Residency for family members. The Golden Visa extends to the investor’s spouse, children under the age of 18 or older if they are full-time students and dependent parents.

5. Quality of life. Portugal is known for its high quality of life, with a pleasant climate, rich culture, good healthcare, and a safe environment.

6. Minimal residency requirements. To maintain the visa, it’s only necessary to stay in Portugal for a minimum of 7 days every year.

7. No tax on worldwide income. For non-tax residents, Portugal does not tax foreign income, which can be a significant financial advantage.

1. A Golden Visa is a visa for investors who contribute to the country’s economy. It is issued for 2 years and can be extended every 2 years for as long as the investor wishes.

2. The process of renewal is more accessible than the process of initially obtaining a Golden visa. It takes only 2–3 months and consists of 4 steps. No new investment is required.

3. The investor must start the process of renewing a residence permit at least 30 days before the expiration date of their document.

4. The list of documents is almost the same as the first time: a passport, an application form, health insurance, and no criminal record certificate. The applicant must also submit their expiring residency card.

5. After 5 years of holding a Golden Visa, a foreigner can apply for Portuguese permanent residency or citizenship.