Many people do not not know Portugal actually offers a golden visa for bank deposits and also for government bonds.  This is because SEF website only shows Capital transfer of an amount equal to or above 1 million Euros,and does not explicitly say bank deposit or govt bond option.

As a matter of fact, it is actually possible to get golden visa for cash deposits for €1.5m euro or more in a portuguese bank. It must be maintained for 5 years. Effective from Jan 1, 2022, new rules increases the minimum investment for bank deposits increased to 1.5 million euros.

You must get a declaration of a credit institution authorised or registered in the national territory within Bank of Portugal, attesting the holdership, free from any charges and obligations, of deposit accounts with a balance equal or above 1.5 million euros, resulting from an international and effective transfer, or of a quota of the same amount when joint accounts are at stake

SEF has published full documentation guide for investors who wish to make capital transfers through bank deposit, debt instruments, and securities (bearer, transferable or nominative). It is also possible to make investments through legal entity (LLC).

Portuguese banks also pay interest rates on term deposits and note that income taxes are applicable on interest paid.

The following documents will be necessary to apply with SEF for residence permit for the purpose of investment activity

  • No criminal record certificate
  • Tax number and certificate of negative debt from tax authority and social security authority
  • Declaration that investment must be held for 5 years
  • Health insurance coverage
  • Minimum stay requirement of 7 days (first year) and 14 days per year from second year onwards;
  • Duly certified by a Portuguese diplomatic or consular post abroad – of the country of origin, or of the country of residence in case the applicant has been living in another country for over one year. (if the applicant is not living in Portugal)

It should be possible to get residence permit for upto 5 years and later a path to citizenship.

We assist clients with bank deposit option in Portugal through our lawyers. Please contact us for more information.