If your initial Golden Visa investment is no longer viable, consult legal experts or immigration authorities for renewal options, ensuring compliance with visa regulations.
Renewing your Golden Visa in Portugal when your initial investment is no longer viable can be challenging, but it's not necessarily impossible. Here’s what you need to consider:
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Investment Requirements:
- The Golden Visa program typically requires you to maintain the initial investment throughout the validity of your residency. If your initial investment is no longer viable (e.g., the investment property is sold, or a business fails), you may need to make a new qualifying investment to meet the program's requirements for renewal.
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Alternative Investments:
- You may have the option to replace your initial investment with a new one that meets the Golden Visa criteria. This could involve purchasing a new property, making a new investment in a Portuguese business, or other qualifying investments.
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Consult with Authorities:
- It's crucial to consult with the Portuguese immigration authorities or a legal advisor who specializes in immigration. They can provide specific guidance based on your situation and help you understand your options for renewal.
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Adherence to Legal Requirements:
- Ensure that you comply with all other legal requirements of the Golden Visa program, such as maintaining your residency status, fulfilling periodic reporting obligations, and continuing to meet any other program conditions.
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Consider Transition Options:
- If renewal under the Golden Visa program is not feasible, explore alternative residency or citizenship options available in Portugal. This might include other residency permits or citizenship through naturalization if you meet the eligibility criteria.
By addressing these considerations and seeking professional advice, you can better navigate the renewal process and explore viable solutions if your initial investment is no longer viable.