Golden visa in Portugal
The rules governing the granting of Residence Permit for Investment (ARI / Golden Visa), in force from 8 October 2012, enable third country nationals to obtain a temporary residence permit to conduct business activities with visa waiver to enter national territory. The beneficiaries of ARI / Golden Visa are entitled to:
• Residence visa waiver for entering Portugal;
• Living and working in Portugal, on condition that they stay in Portugal for a period of 7 or more days, in the first year, and 14 or more days, in the subsequent years;
• Visa exemption for travelling within the Schengen Area;
• Family reunification;
• Applying for permanent residence (pursuant to the Aliens Act – Act number 23/2007 of 4 July with the current wording );
• Applying for Portuguese citizenship, by naturalization, provided all other requirements set out by the Nationality Act are fulfilled (Act number 37/81 of 3 October, with the current wording);
Golden Visa Eligibility
All third country citizens who conduct an investment activity, as an individual businessperson or through a company set up in Portugal or in another EU Member State and who, in addition, are stably settled in Portugal, provided these citizens fulfil the quantitative requirements and the time requirements set out by the relevant legislation, may apply for a Residence Permit for Investment, by one of the following routes:
- Capital transfer with a value equal to or above 1 million Euros;
- The creation of, at least, 10 job positions;
- The purchase of real estate property with a value equal to or above 500 thousand Euros;
- The purchase of real estate property, with construction dating back more than 30 years or located in urban regeneration areas, for refurbishing, for a total value equal to or above 350 thousand Euros;
- Capital transfer with a value equal to or above 350 thousand Euros for investing in research activities conducted by public or private scientific research institutions involved in the national scientific or technologic system;
- Capital transfer with a value equal to or above 250 thousand Euros for investing in artistic output or supporting the arts, for reconstruction or refurbishment of the national heritage, through the local and central authorities, public institutions, public corporate sector, public foundations, private foundations of public interest, networked local authorities, local corporate sector organizations, local associations and public cultural associations, pursuing activities of artistic output, and reconstruction or maintenance of the national heritage;
- Capital transfer with a value equal to or above 500 thousand Euros, for purchasing shares in investment funds or in venture capital geared to capitalize small and medium companies that, in turn, must present a feasible capitalization plan.Portuguese, EU and EEE nationals are not eligible for the ARI / Golden Visa scheme.
Fee for residence permits for investment activity
A) By the receipt and analysis of the application for the granting or renewal of a residence permit
For investment activity, under the terms of article 90-A of Law no. 23/2007, of July; € 520.40
B) For the issue of a residence permit for the investment activity, under the terms of
Of article 90-A of Law no. 23/2007, of July 4; € 5202.60
C) For the renewal of a residence permit for the investment activity, in accordance with
Of article 90-A of Law no. 23/2007, of July 4; € 2601.30
D) By the authorization of residence for relatives reunited with the holders of authorization
Of residence for investment activity, pursuant to article 90-A of Law 23/2007,
Of July 4; € 5202.60
E) For the renewal of a residence permit for relatives reunited with the holders of
Residence permit for investment activity, in accordance with Article 90a of the
Law no. 23/2007, of July 4; € 2601.30
F) For the issuance of the second copy of the residence permit for the investment activity – 50%
Of the rate referred to in point (a); € 260,20
G) For the issuing of a third and successive residence permit for the activity of
100% of the value of the fee provided for in point (a); € 520.40
H) For the replacement of the residence permit for the investment activity, by alteration of the
Of the elements provided for in article 86 of Law no. 23/2007, of July 4 – 25% of the amount of the tax
Provided for in point (a); € 130.20
The fees provided for in paragraph 1 (d) and (f) shall be reduced to 50% where
Residence in respect of minors in accordance with Article 122 (1) (a), (b) or (e) and
Of article 124 of Law no. 23/2007, of July 4: –
Documents and General Requirements
• Passport or other valid travel document;
• Supporting Documents on the legal entry and stay in Portugal;
• Documentary Evidence of adequate Health Insurance (issued within the prior three months),
specifically:
* Document attesting that the applicant is covered by the National Health Service, or;
* Document attesting that the applicant is covered by an internationally acknowledged
Health Insurance Plan for the duration of the stay, with indication of automatic renewal
on the expiry date;
• Criminal record certificate – duly certified by a Portuguese diplomatic or consular post
abroad – of the country of origin, or country of residence in case the applicant has lived in
another country for over one year. This document must be translated into Portuguese and
must have been issued within the prior three months;
• Completed application form (see official template) with permission for checking the
Portuguese Criminal Records;
• Affidavit, whereby the applicant declares on his / her word of honour that he / she shall
comply with the minimum quantitative requirements and maintain the investment for a
minimum period of five years.;
• Up-to-date declarations issued within the prior 45 days by the Portuguese Tax Authorities
and by the Portuguese Social Security confirming the absence of any debts to those
authorities, and where that is not applicable, declaration confirming that the applicant is not
registered with those authorities;
• Receipt for the payment of the ARI / Golden Visa Application Examination Fees;
Real estate ownership documents
For investments by way of purchase of real estate property with a value equal to or above
500 thousand Euros, the investment amount may be reduced in 20% (400 thousand Euros) in
case such investment is made in sparsely populated territories (NUT III level with less than 100
inhabitants per sq.km. or where the GDP per head is below 75% of the national average).
This type of investment may be carried out by the applicant as an independent entrepreneur
or as proprietor of a single member limited company.
For this type of investment, the Investor must prove his / her ownership of the real estate (or
in case this is not feasible, must deliver a copy of the promissory contract, indicating the
payment of an initial deposit [Sinal] in value equal to or above 500 thousand Euros), which can
be done in one of the following ways:
• Purchasing the real estate in co-ownership, provided that the applicant invests 500 thousand
Euros or more;
• Purchasing the real estate by means of a single member limited company of which he/she is
the proprietor;
• Mortgaging, or otherwise, encumbering, the property in the share exceeding the minimum
investment value of 500 thousand Euros;
• Lease the real estate for business, agriculture or tourism purposes.
Documents:
• Final Deeds of purchase, or Promissory Contract;
• Declaration issued by a financial institution accredited or registered in national territory by
the Bank of Portugal, confirming an actual international bank transfer for purchasing or for
payment as initial deposit [Sinal] of the sale agreement, amounting to 500 thousand Euro or
more;
• Certificate of the Land Registry Office [Conservatória do Registo Predial] issued within the prior
45 days, comprising the registrations, endorsements and entries in force and proving the
ownership of the real estate, free of any encumbrances, or certificate of registry comprising
the provisional record of purchase, when legally feasible, with an initial deposit [Sinal] of 500
thousand Euros or more;
• Official Tax Description [Caderneta Predial] of the real estate, when legally feasible;
• Excerpt of the Commercial Register [Registo Comercial] issued within the prior 45 days in
case the investment is made by means of a single member limited company of which the
applicant is the proprietor;
Source:
http://www.imigrante.pt/PagesPT/BancoInformacao/Docs/TabelaTaxas.pdf (translated to english)
http://www.sef.pt/portal/v10/en/aspx/apoiocliente/detalheApoio.aspx?fromIndex=0&id_Linha=6269
