The Law, issued on the 9th of August, to support the investment of foreign entrepreneurs, brings to Portugal a new programme of residence permit also known as Golden Visa or ARI.
The main goal is to attract foreign investment to Portugal, and any citizen outside the European Union may apply, being the application a straight forward process. The idea is to inject capital in any real estate property, derivates or creating 10 jobs.
Benefits of a Golden Visa in Portugal
This type of permit, allows the holder to enter and stay in Portugal for a period of 5 years, which increases the actual period foreseen for non residents ( 90 days ).
Allows the holder to travel in the Schengen Area (Spain, France, Germany, Austria, Belgium, Denmark, Estonia, Finland, Greece, Hungary, Island, Italy, Leetonia, Republic of Latvia, Check Republic, Liechtenstein, Luxembourg, Malta, Nederland, Norway, Poland, Portugal, Slovenia, Slovakia, Sweden e Switzerland).
After a period of 5 years, the Golden Visa permit allows the holder to apply for a permanent residence permit.
Only a minimum period of 7 days of residence for the first year and 14 days for the next per 2 years in Portugal is a great convinence for the applice.
The holder may request the family regrouping (husband/spouse, children aged under 18 and adult dependent relatives carrying out his/her studies).
Specifics Requirements to obtain a Golden Visa in Portugal
a) Purchase of a property (real estate asset)
Application must be submitted with the title deed of purchase and sale or the promissory contract of purchase and sale;
Purchase price on a minimum of € 500.000,00, and the asset shall be free of charges or any other encumbrances ( in case of a purchase price above that amount, the applicant may apply for a loan );
The investment has to be kept for a period of 5 years.
b) Invest at least one million Euros of this capital in the purchase of derivates or shares in companies at the stock exchange
Declaration issued by the Bank that the period of the investment is for a minimum period of 5 years
Bank Deposit for 5 years term
C) Other Investments
Set up a company or purchase of a company, at least 10 employees, and declaration issued by Social Security, of the date of beginning of the contracts.
General Requirements to obtain a Golden Visa in Portugal
Valid Passport and Schengen Visa.
Valid travel document and medical insurance.
Updated property documents showing ownership of property.
Proof of means of income and proof of address.
Absence of criminal conviction and of interdiction to enter the country.
Absence of notice from the Portuguese Immigration Authorities or Schengen Services.
Declaration from the investor confirming compliance with the investment requirements.
Once granted, the Golden Visa Residence Permit is valid for 5 years and allows the holder to stay in Portugal for one year, subject to its renewals for two years, at the end of the first and third year.
After the five years period, the holder may apply for a permanent resident permit valid for another five years (this can also be renewed after the five years). At the end of the sixth year, the holder may apply to the Portuguese Nationality, under the general terms of the Portuguese Law.
Portuguese Golden Residency Permit – Typical Application costs
Processing Fee (initial application and renewals) - Investor - € 514.80 - Family member - € 80.20 per person
Initial Investor Residency Permit - € 5,147
Renewal of Investor Residency Permit - € 2,573.90
Initial Residency Permit for Family Members - € 5,147
Renewal of Residency Permit for Family Members - € 2,573.90
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