Golden Visa is a temporary residence permit that is acquired by making a specific investment in a country of the applicant’s choice. The permit allows the holder, in general, to live and work in the country. In addition, it offers the opportunity to travel visa-free in different countries.
The most popular European Golden Visa countries are Spain and Portugal.
Which is the best option?
Both Spain and Portugal have the same benefits in terms of the right to live and work in the country, the visa exemption within the Schengen area and the inclusion of the family in the application. The differences are in the length of stay required in each country, the type and amount of investment and the right to apply for nationality.
Length of stay requirement
Spain requires the applicant to enter the country at least once a year. his can be interpreted to mean that he/she only has to be physically in Spain for one day per year.
Portugal requires applicants to stay an average of seven days per year in the country. If your Golden Visa is valid for a period of two years, then you are required to stay a total of fourteen days in Portugal.
Type and amount of investment
Spain requires a minimum of EUR 500,000 in real estate or a capital investment of EUR 1,000,000. It also allows a minimum investment of EUR 1,000,000 in a Spanish business or a minimum investment of EUR 2,000,000 in Spanish government securities.
If the investment is made in low population density areas, the investment is reduced by 20%, so the final investment price is EUR 400,000. You can also obtain the Golden Visa for 350,000 euros if you acquire a property that is at least 30 years old, with the premise that it has to be rehabilitated. Furthermore, if the latter acquisition is in a low population density area, the investment is reduced by 20%, obtaining the Golden Visa Portugal for 290,000 euros.
As other options, the applicant can create a company in Portugal that employs at least ten Portuguese citizens. You can also invest a minimum of 500,000 euros in a qualified fund in Portugal or 250,000 euros in Portugal’s national heritage, art and culture.
Spain requires ten years’ residence in Spain, in addition to passing the DELE A2 Spanish language exam, the CCSE Spanish culture exam and no criminal record from the country of origin.
Portugal requires five years’ residence in Portugal and an average of seven days a year in Portugal, in addition to passing the A2 Portuguese language exam, not having paid taxes in Portugal and not having a criminal record in the country of origin.