I'm an investor based in the U.S. and I've heard that even though after I apply for the golden visa in countries like Portugal, I would still need to apply for the Schengen Zone visa. Could you please explain why? Also is it necessary?
If you have a residence permit issued by one of the Schengen area countries, you will not need another visa to travel within the Schengen area, as long as you respect the "short stay" limits, which means that your stay cannot exceed 90 days in a total period of 180 days. This is valid for any type of residence permit, including the investment residence permit.
Let me explain that if you got a Golden Visa in Portugal, you don’t have to get the Schengen Zone visa separately. The beneficiaries of the Golden Visa are entitled to: • Residence visa waiver for entering Portugal; • Live and work in Portugal; flexible. No requirement to reside • Visa exemption for travelling within the Schengen Area; • Full family residency: residency extended to family members; • Apply for permanent residence after five years. The investor and family members will have to meet criteria in order to be able to apply for Permanent Residency in Portugal. • Apply for Portuguese citizenship after six years. Compared to the Spanish regime, the Portuguese seems advantageous, as in Spain, the investor is granted citizenship after 10 years.
Once you are a holder of a residence permit in Portugal, that visa itself has the same value as a Schengen Visa. As such, there won’t be a need for another visa to be issued to travel in the Schengen area. As it happens with other regular Schengen visas, the residence card is valid for staying in countries in the Schengen area that don’t go beyond 90 days, during a total period of 180 days.
Once you have your Golden Visa card, you get access to Schengen area.
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