How much money do I need to immigrate to Portugal?

Portugal’s Residency by Passive Income: A Cost Analysis

Portugal’s Golden Visa program, offering a path to residency for those with consistent passive income, has gained popularity among foreign investors. To qualify for the program, applicants must demonstrate a monthly income of at least €1,070, proving financial stability and potential integration into Portuguese society.

Income Requirement

The €1,070 monthly income requirement translates to an annual income of €12,840. This income must be generated from passive sources, such as:

• Interest from bank accounts and bonds
• Dividends from stocks
• Rental income from properties

Applicants must provide documentation supporting their passive income, such as bank statements, tax returns, or rental agreements.

Additional Costs

In addition to the income requirement, applicants for Portugal’s Residency by Passive Income must also cover other costs associated with immigration, including:

• Application fee: €515
• Residence permit issuance fee: €531
• Biometric data collection: €55
• Health insurance: Applicants must have health insurance compliant with Portuguese regulations. The cost will vary depending on the insurance provider and coverage level.
• Legal fees: It is advisable to consult an immigration lawyer to assist with the application process. Fees may vary.

Ongoing Costs

Once residency is granted, applicants will incur ongoing costs to maintain their status, such as:

• Annual residency fee: €250 per person
• Accommodation: The cost of accommodation varies widely depending on location and type of property.
• Living expenses: Basic living expenses such as groceries, transportation, and utilities should be taken into account.

Conclusion

Portugal’s Residency by Passive Income offers a pathway to residency for individuals with consistent passive income. While the income requirement of €1,070 per month is manageable, applicants should be prepared for additional costs associated with the application process and ongoing maintenance of their residency status. By carefully considering these costs and ensuring financial stability, potential applicants can maximize their chances of success in obtaining residency in Portugal.