The Portugal Golden Visa is a residency by investment programme open for Non-EU Nationals. The Portugal Golden Visa programme was launched in 2012 with the aim of granting the applicants residency in Portugal and the right to apply for citizenship after 6 years in return for investment in Portugal. Beneficiaries of the Portugal Golden Visa programme can live and work in Portugal, with minimum stay requirements of only 7 days in the first year and 14 days in the subsequent 2 year periods. In addition applicants will enjoy the right of Visa free travel within the 26 Schengen Area countries.
Legal Basis for the Portugal Golden Visa Programme
Legal amendments in Portuguese law have opened up the possibility of applying for a residence permit for pursuing investment activities to those who enter Portugal regularly and their dependents in return for transferring capital, creating jobs or acquiring real estate. This is possible by virtue of Law number 29/2012 and Order number 11820-A/2012.
Applicants can choose from any of the three main investment routes with different amounts of investment mentioned below:
The main applicant may opt to purchase property in Portugal:
- Investment in real estate with a total value equal or greater than €500.000 for new properties or ,
- Investment in real estate with a total value equal or greater than €400.000 for new properties in areas with less than 100 habitants per km2.
- Investment in real estate with a total value equal or greater than €350.000 for old properties built over 30 years ago or,
- Investment in real estate with a total value equal or greater than €280.000 for old properties built over 30 years ago in areas with less than 100 habitants per km2.
The main applicant may opt to open a company which creates 10 permanent jobs. These jobs are to be newly created and certified by the local Social Security Institutions.
The main applicant may invest:
- in an amount equal or greater than €1.000.000 (1 million) into a Portuguese Financial Institution for a period of 5 years, or
- in an amount equal to or above €500,000 , for purchasing shares in investment funds or in venture capital geared to capitalise small and medium companies, that, in turn, must present a feasible capitalization plan, or
- in an amount equal or greater than €350,000 for investing in scientific research activities, or
- in an amount equal or greater than €250,000 for investing in artistic output or supporting the arts and national heritage.
In order to be eligible for the Portugal Golden Visa Programme, the main applicant must enter Portugal for the first time with a valid Schengen Visa. Investing in Portugal is a key requirement under the programme. The main applicant will have three different options for investment, namely real estate, job creation and capital transfer. If the main applicant opts to invest in investment funds, such investment funds must originate from outside of Portugal. A five-year minimum investment time is required, counting from the date of the issue of the residence permit
Moreover, the main applicant must provide evidence of a clean criminal record. Applicants are also required to reside in Portugal for 7 days in the first year, and 14 days in the subsequent 2 year periods
Vaunting stunning scenery, beautiful beaches, an outstanding culinary tradition and a lively, yet serene way of life, Portugal presents itself as an ideal relocation destination.
The Portugal Golden Visa Programme gives successful applicants and their family members the right to live, work, and reside freely in Portugal, while benefiting from favourable tax rates. Moreover, they will benefit from visa-free travel to Portugal and other countries within the Schengen Area. The programme imposes minimum residency requirements, but leads to the possibility of attaining permanent residency after 5 years, and also grants them the right to apply for Portuguese (EU) citizenship after 6 years.
Why Work With Us
We are able to advise you on the requirements and tax and legal implications of the Portugal Golden Visa programme and indicate expected time frames based on the specific circumstances and nature of your application.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.