Golden Visa Portugal

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Golden Visa Portugal – Residence permit in Portugal

The “Golden Visa Portugal” are residency permits granted by Portugal to any non-member of the European Union who agrees to carry out one of the investment options set out in the law.  The investment must be kept during a minimum of 5 years. The holder of the Golden Visa is then free to move and do business freely in the Schengen area.

It is not a requirement to live permanently in Portugal. It is enough to reside seven days in the year.

In case of an investment in real estate, investors can rent the property and obtain a return on investment.

The Portugal immigration Golden Visa may be extended to family members, i.e. children, spouse, and dependent family members. The residency permit is granted for an initial period of one year and is renewable every 2 years. After five years, the investor and family members are eligible for permanent residency and after 6 years for Portuguese citizenship.

The Golden Visa was launched in October 2012 by the Portuguese authorities in order to attract foreign capital. The main investors are the Chinese, followed by Russians, Brazilians and Angolans.

 

Map of Europe with Portugal highlighted

Map of Portugal in Europe

 

Portugal Golden Residence Visa scheme main benefits

  • Travel freely in the 26 Schengen Area countries
  • Freedom, but without obligation, to live and/or work in Portugal
  • Possibility to acquire Portuguese citizenship after 6 years.
  • Option to apply for family reunification

Investment requirement (NEW)

To qualify for a Golden residence permit,  investors need to carry out one of the following investments activities in Portugal:

I) Capital transfer with a value equal to or above 1 million Euros;

II) Capital transfer with a value equal to or above 500 thousand Euros for purchase of shares to capitalize small or medium sized businesses.

III) Creation of, at least, 10 job positions (reduced to 8 job positions if located in a low density area*) ;

IV) Acquisition of properties with a value equal to or above 500 thousand Euros (reduced to 400 thousand Euros if located in a low density area*);

V) Acquisition of properties older than 30 years or located in certain urban renewal districts, with a value equal to or above 350 thousand Euros (reduced to 280 thousand Euros if located in a low density area*);

VI) Capital transfer with a value equal to or above 350 thousand Euros for investing in scientific or technological activities (reduced to 280 thousand Euros if located in a low density area*);

VII) Capital transfer with a value equal to or above 250 thousand Euros for investing in artistic production or the mainenance of national cultural heritage (reduced to 200 thousand Euros if located in a low density area*);

* – “low density areas are regions with less than 100 inhabitants per square kilometre or with GDP per head less than 75% of the national average”.

The investment must be maintained for a minimum period of 5 years after the residence permit is granted.

Contact us for more information about the investments in Portugal.

Golden Visa Government fees – download full details

• Initial application – € 517.40
• Issue of Investor Residency Permit – € 5,173.60
• Renewal of Investor Residency Permit – € 2,586.80
• Issue of Portuguese Residency Permit for Family Members – € 5,173.60
• Renewal of Portuguese Residency Permit for Family Members – € 2,586.80

The Golden Visas processing timeline

 

Year 1

Make your investment, obtain your Portugal Golden Investment Visa after your make the investment, spend at least 7 days in Portugal, whether or not consecutive

 

Year 2 to 5

Renew your visa at the end of Year 1 and 3, spend at least 14 days in Portugal (whether or not consecutive) per each 2-year period.

 

Year 6

Subject to mastering “basic Portuguese”, obtain a permanent visa (and dispose of your investment if you wish) at the end of Year 5. No minimum stay requirements apply from then on.

Citizenship application

 

At the end of your 6th year you can apply for the portuguese passport.
Contact us for more information.

 

FAQ

What is the Portugal Golden Visa Residence Permit ?

It is a resident permit for non European citizen, willing to invest in Portugal, entitling the holder to free movement throughout the 26 Schengen countries in Europe. Golden Visa holders can obtain access to the permanent residence after 5 years, and Portuguese citizenship after 6 years since obtaining the Golden Visa permit.

The Portugal Golden Visa Residence Permit Programme is one of the most popular residency by investment programmes beacuse of its simplicity, speed and limited number of reqirements.

Why the Golden Visa was implemented ?

The Portugal Golden Visa Programm, launched by Portuguese authorities in October 2012, is aimed at attracting foreign investment into Portugal.

What are the conditions to qualify for the Golden Visa Program ?

  • Not being a EU or EEA citizen
  • Not having been convicted of a crime punishable by more than 1 year imprisonment
  • Not having been banned from entering the Schengen Space
  • Having no debts to the Portuguese State
  • Having private health insurance
  • Make the minimum investment

Is there any restriction on nationality ?

No, any nationality may apply, the only condition is not to be from Europe Union

Who are the main beneficiaries of the Golden Visa ?

The main beneficiairies of the Golden visa are from China, Brazil, Russia, South Africa, Lebanon

How many Portugal Golden Visas have been issued ?

In 2014, Portuguese authorities have granted 1’526 Residence permits for pursuing investment activities

What kind of rights have the Golden Visa holder?

  • To circulate freely through the Schengen area without any other visa
  • To live and work in Portugal even with residency in a different country
  • To be eligible for family reunion
  • To apply for a permanent residence permit after 5 years
  • To apply for the Portuguese nationality after 6 years
  • Option to become a “non-habitual resident” of Portugal for tax purposes, thereby paying little or not tax for at least 10 years.
  • The right to education, health and justice.

Is it possible to extend the Golden Visa to family members ?

Yes.

Who are the family members, according to the Golden Visa law?

  • The spouse.
  • Children under age 18
  • Children over 18 if they are unmarried, financially dependent on their parents and full-time students.
  • Underage brothers or sisters (on the condition that they are legally under the responsibility of the resident in their country of origin).
  • First degree ascendants (parents) of the couple on the condition that they are financially dependent

What is the Schengen Area and what are the countries included ?

The Schengen Area is the area comprising 26 European countries that have abolished passport and any other type of border control at their common borders, also referred to as internal borders.

The country included are : Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, The Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden and Switzerland.

Should I change my tax residency to Portugal ?

No. The holder is not obliged to change it

Am I entitled to work in Portugal ?

Yes, you are allowed to work during the period of the Golden visa permit and also during the period of the permanent residence permit

Can I mortgage my real estate investment  ?

The minimum required amount of investment must be kept free of charges. However, on the value that exceeds the minimum amount, the applicant may apply for a mortgage.

Can I purchase more than one property asset (real estate) ?

Yes. The law allows more than one. Bearing in mind that the total investment must reach the minimum investment required by law.

Can the property be rented out ?

Yes, the investor may rent his property out to obtain a return of investment on his property.

When can I dispose of the investment ?

After 5 years from the granting of the residence permit, when the investor has obtained the permanent residence visa, the property can be sold.

How can the investor and family obtain Permanent residency after 5 years ?

The following criteria must be met:

  • Absence of conviction of crime during the last 5 (five years)
  • Proof of income / financial independence
  • Proof of accommodation in Portugal
  • Basic knowledge of Portuguese 

How can the investor and family obtain Portuguese citizenship ?

By fulfilling the following criteria:

  • To be over 18
  • Absence of conviction of any crime that might be punishable by 3 or more years imprisonment under Portuguese law
  • Pass a simple Portuguese language test, which will serve to show sufficient knowledge of the language

What are the required documents for a residence permit application ?

  • A valid passport
  • A valid Schengen Visa
  • Clean criminal record of the country of origin or from any other country where the applicant has resided for more than one year, certified by the Portuguese consulate or by the apostille of the Hague convention (not necessary for under 16-years old children)
  • Proof of health insurance
  • Applicant’s permisson enabling consultation of the Portuguese Criminal Records by SEF
  • Proof of investment
  • Declaration from the Portuguese Tax Department proving the absence of debts to the Portuguese Tax Authorities
  • Declaration from Portuguese Social Security proving the absence of debts to Portuguese Social Security Authorities
  • If applicable, documentary evidence of the eligibility of family member applicants, e.g. a marriage certificate for the spouse and birth certificates for the children, legalised by either a Portuguese consulate or the apostille of The Hague Convention.

The documents issued by foreign authorities must be legalized before being submitted in Portugal.  This legalization means obtaining the Apostille of the Hague Convention (when applicable) or legalization by the Portuguese Consular services.

The documents are not in Portuguese ? What can the investor do ?

Any document that is not in the Portuguese or English languages needs to be translated to Portuguese and the translation must be certified.

How long it will take to receive a decision concerning the residence permit from the Portuguese administration ?Usually it takes less than 60 days once the application is submitted to the Services of Foreigners and Borders (SEF).

What kind of document does the applicant get if his / her residence permit is approved ?

A resident permit authorization card, which will serve as an ID or traveling document and will correspond for ID purposes in Portugal and other European countries

For how long is valid the initial residence permit ?

The initial permit is valid for 1 year. The residence permit shall be renewed subsequently for a period of 2 years.

What are the mandatory requirements of minimum stay in Portugal ?

During the 5 initial years, the stay requirements are 7 days for the first year and 14 days during each of the two subsequent 2-year period wether or not consecutive.

 What are the renewal conditions for the residence permit ?

  • Maintenance of the investment in Portugal
  • The minimum period of permanency should be 7 days in the first year and 14 days in the subsequent 2 years

 What rights does a resident of Portugal have ?

A person authorized to live in Portugal, has the right to education, professional activity, training, health care, social security benefits and justice system.

Does the investor need to pay taxes in Portugal on his worldwide income ?

No.  If the holder of the golden visa does not stay in Portugal form more than 183 consecutive days, he/she will not be required to pay taxes for income generated outside of Portugal.

What income taxes apply to income generated in Portugal ?

Rental income and income arising from capital (e.g. interest, dividends, etc) will be taxed at a rate of 28%.

 What are the grounds for refusing the Portugal Golden Visa Residence Permit?

The investor (or any family member) will be refused the Golden Visa, or its renewal, if:

  • The investor has not maintained the investment for the minimum period of 5 (years)
  • The investor  has not complied with the minimum periods of stay in Portugal
  • The investor  has been convicted of a crime
  • The investor in a period where he/she has been banned entry into Portuguese territory following a removal measure of the country

The Golden Visa may be also refused on the grounds of public order, public security or public health.

How can we deal with you to take care about the Golden Visa Residence Permit fast and from A to Z ? What are the exact steps, the operation time table and payment time table? Can you also provide us with a detailed breakdown of fees? 

Simply send us information about your situation and we will provide you with all details within 24 hours.

  • Nationality
  • Country of residence
  • Marital status
  • number and age of children

We are happy to assist you.

Contact us today!

 

USEFUL LINKS

Immigration and Borders Service SEF

Living in Portugal

Visitportugal, the official tourist guide in Portugal

To obtain information how to obtain a Portuguese Schengen visa

Portugal Economy Probe, website about the Portuguese economy and financial system

 APEMIP, website of professional real estate agents of Portugal

CIMLOP – The Construction and Real Estate Confederation of Speaking Portuguese Countries

 

Golden Visa Portugal

QUICK INFO

  • Governement fees download full details

Latest Stats

Golden Visas Issued until 28.02.2017

2012 – 2

2013 – 494

2014 – 1526

2015 – 766

2016 – 1’414

2017 – 376

See full stats here