Golden Visa - Residency Permit
For anyone entering the country on a regular basis, new provisions in Portuguese law make it possible to apply for a residence permit for the carrying out of investment activities (e.g. visa holders, valid Schengen visa waiver or beneficiaries). This can be through capital transfer, job creation or from the purchase of buildings. As a way of making foreign investment to Portugal more attractive, law No. 29/9/08 was passed in 2012, creating the "Golden Visa" system.
This gives foreign investors the possibility of obtaining residence in Portugal.
The benefits of this allow the holder to reside and invest in Portugal, create links with Portuguese territory and other territories (related through the "Schengen area"). It also enables relatives of the holder of ARI acquire the same rights of residence in Portugal. It is possible to apply for permanent nationality in due course.
Acquisition of properties above 500,000€ (after 8th October 2012)
Transfer of funds equal to 1,000,000€ or above
Creation of 10 or more jobs
The requirements must be maintained for a minimum of 5 years. Investors have total freedom to rent or lease property acquisitions.
Acquisition completed before the application for residency permit
Properties acquired free from any charges or mortgages
Minimum stay of 7 days first year & 14 days following periods of 2 years
Residency Application made within 90 days after entry in Portugal
Residency Permit granted for 1 year & renewed for periods of 2 years
Possibility of permanent residency after 5 years
Possibility of nationality one year later
Bearers of Investor Residency Permits may travel freely in the Schengen area.￼
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
Proof of accommodation
Absence of criminal conviction and of interdiction to enter the country
Absence of notice from Portuguese Immigration or Schengen Services
Declaration confirming compliance with the investment requirements
The residence permit is granted for a period of 5 years, in which the holder must keep to the outlined legal requirements.
Here at the Portugal Property Shop, our team of professionals can help you with all aspects of your Visa application. Contact us now for further information on the Portuguese 'Golden Visa', or any other legal aspect regarding your property acquisition in Portugal.
We look forward to assisting you.
The Portugal Property Shop | Overseas Invest Ltd | Abertawe House | Ystrad Road | Fforestfach | Swansea | SA5 4JB | United Kingdom
Call us NOW: UK FREEPHONE (+44) 0800 772 0271 PORTUGAL (+351) 910 529 962