Is it the whole amount of €250,000 or a percentage of that initially? Would I still have time if I started the process now?
The application can only be submitted once the minimum investments are made for any of the possible routes/options. First of all, it is necessary to transfer the required funds from a foreign account to a Portuguese bank account and only after that it is possible to make the investment. Regarding the second question, it depends on the type of investment you intend to make, but for some investments there is still time.
Depending on the type of investment and the respective areas and conditions, your minimum investment requirements will vary. In order to submit the Golden Visa application you must have proof that the minimum legal amount is paid (investment done). Golden Visa applications are being accepted and will remain available until a new law is approved and in force.
The acquisition of real estate for investment has to be made with real estate worth €500,000 or more. Take note that the investment of €250,000 can only be made through capital transfers that are applied in investment or support of artistic production, recovery or maintenance of the national cultural heritage, through central and peripheral direct administration services, public institutes, entities that integrate the public business sector, public foundations, private foundations with public utility status, intermunicipal entities, entities that integrate the local business sector, municipal associative entities and public cultural associations, which pursue attributions in the area of artistic production, recovery or maintenance of the national cultural heritage. In all possible forms of investment, it is not possible to make the investment in stages. It is necessary to invest the total amount. Originally, the government had proposed a cut-off date for the program starting on February 16th. If adopted, this measure would have voided all applications submitted after this date, of which there are many. Instead, the program will remain open for new applications until new legislation is published. In other words, prospective golden visa applicants will have until the new law is finally promulgated (if, indeed, the bill is enacted) to submit their applications under existing golden visa rules.
To apply for the Golden Visa it is mandatory to make proof of transfer of the minimum amount of investment corresponding to the options selected. In terms of real estate, it can be 500k or, if old real estate for refurbishing, 350k. Both amounts can be reduced by 20% if the property is located in a low density area.
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