Investor visa to Portugal

Golden Visa of Portugal. Obtaining a residence permit through investment

What is a Golden Visa of Portugal? The idea of the Golden Visa of Portugal  program is to attract foreign investment and stimulate the domestic economy. This visa is also commonly referred to as a residence permit for investment, as it allows rapid obtaining of this status if the applicant is financially capable.

Applicants who were able to obtain the Golden Visa of Portugal receive a temporary residence permit for 12 months, with a subsequent extension of 2 and 2 years. Five years later, holders of the Golden Visa of Portugal can begin obtaining a permanent residence status and subsequent registration of the EU citizenship.

Golden Visa of Portugal. Program description

The Portuguese Golden Visa program chosen by the applicant provides for a significant level of future rights and freedoms, with the exception of participating in elections. At the same time, the chosen option may require serious investments from the investor (€250,000 and more).

Today the Golden Visa of Portugal is one of the most demanded investment programs among applicants from many countries of Eastern Europe, Asia and even Australia. It offers potential investors relatively affordable investment options as well as a safe operating environment.

Portugal, located in the southwestern corner of Europe, boasts an excellent reputation as one of the most globalized and peaceful countries in the world. It has its own language, the sixth most spoken in the world, as well as its own culture and cuisine.

Residence in Portugal, which an applicant participating in the Golden Visa program can count on, is an opportunity to enjoy a high-quality life, to work safely and pay minimal taxes, study at the best universities in Europe and receive high-quality medical services.

The Portuguese Golden Visa Citizenship program was launched in October 2012 in agreement with the Ministry of Foreign Affairs through the Department of Consular Affairs and the Portuguese Agency for Investment and Trade Relations (AICEP).

The five-year naturalization program for citizens applying for a residence permit through investment in Portugal is intended for non-resident foreigners from countries that are not members of the European Union. The obtained status gives you the opportunity to live in any locality in the country, to be officially employed  and obtain education in any country of the European Union.

In addition, you are free to travel around countries of the Schengen area, staying in each of them for no more than 3 months every six months. To obtain a passport, it is enough to stay in the country for only one week each year within a five-year period.

Terms and conditions for obtaining the Golden Visa of Portugal

Applicants wishing to take advantage of this program must meet certain requirements, including:

1. Age starting from 18 years old;
2. No outstanding convictions;
3. Availability of medical insurance;
4. Confirmation of the legality of income for participation in the investment program.

Every year the applicant must stay in the country for at least 7 full days, which is checked by the border service.

The main thing that an applicant should think about is choosing an option for investment:

1. Acquisition of one or more real estate objects;
2. Investment in the local economy;
3. Creation of vacancies in the Portuguese labor market for local citizens.

The applicant must meet the requirements for the application and make the necessary investments in accordance with the chosen option. He or she may include to the application one or all of the following dependents:

1. Husband or wife;
2. Children under the age of 18;
3. Children aged from 18 to 30 who are financially dependent on the main applicant;
4. Parents, grandparents of the main applicant or his or her spouse who are already 66 years old and are financially dependent on the main applicant;
5. Brother or sister of the main applicant or his or her spouse under the age of 18 who are unmarried.

Since this is a residency program, you must visit and stay in Portugal for at least a week each year for the first 5 years. You also need to purchase a real estate object, transfer capital, or invest in creating jobs for local citizens.

Procedure time for obtaining a residence permit through investment in Portugal

The service “Residence Permit through Investment in Portugal” is popular among many financially independent applicants due to the minimum period for obtaining a residence permit. Usually it can be issued in 3-6 months as of the date of submission of the necessary documentation package.

Benefits of a residence permit in Portugal

The country has signed an agreement on the creation of the Schengen area, so you will have the right to live, conduct business officially and receive higher education not only in Portugal, but almost anywhere in Europe. For applicants ways to verify the status of permanent residence, as well as to obtain a Portuguese passport after a five-year period are open.

Among other advantages are:

1. High standards of education and healthcare system;
2. Low crime level;
3. Laws obligatory for everyone;
4. Low tax rates for business;
5. Visa-free entry to the Schengen area;
6. Minimum requirements for a short-term physical residence.

In addition, you do not need to know Portuguese and there are no special education requirements.

Comparison of a residence permit through investment in Portugal and other types of residence permits

The conditions for obtaining a residence permit through investment in Portugal include three main solutions for applicants:

• Acquisition of real estate objects

The acquisition of a state-approved investment real estate object gives the right to obtain the status of a residence permit. The investment can be returned after five years of ownership of the object or objects by selling them. All this time you can use dividends in the form of rent payments, for example. The selected objects fall into two main categories based on the age and location of the property. If you purchase a real estate object in places with a minimum population density, while it needs repair and restoration, the amount of investments is reduced. Usually the minimum contribution is €500,000 for an ordinary object in a major city. If you buy a building within the country in a small village, the minimum contribution will be only €400,000. Objects that are more than 30 years old and require repair will cost a minimum amount of €350,000. If they are located in small towns with low population density, the investment value is adjusted to €280,000.

• Opening accounts and investments

You can open an account in a private or public financial institution in the country by transferring the amount starting from €1 million into it. Closing an account and withdrawing money is possible only after a five-year period. In addition, you can invest the amount starting from €350,000 in scientific and technical research through official or private organizations, the amount starting from €250,000 to support the restoration and preservation of national heritage, as well as in artistic undertakings. Investments in the amount starting from €350,000 in certain national investment funds, the list of which is established and adjusted by the Portuguese Securities Market Commission, are allowed.

• Business investment

The applicant can invest the amount starting from €350,000 in the purchase of shares in a Portuguese company or create his or her own business. It is necessary to create at least five free vacancies for local citizens and these job opportunities must be relevant for at least 36 months.

The procedure of obtaining a residence permit in Portugal through the purchase of a real estate object

Acquisition of one or more real estate objects is currently considered by many of our fellow citizens to be the best option for subsequent naturalization. For example, last year 9 out of 10 applicants took advantage of this option. The objects in the capital and resort regions with high liquidity have traditionally been in the greatest demand.

As statistics show, the cost of real estate objects in the popular resorts of the country is constantly growing, so is their rental price. In accordance with the terms of the program, investors were given the opportunity to return their finances by selling the purchased objects after 60 months of owning.

In 2021 the government revised the terms of the program, which will be subject to certain changes. In accordance with them the applicants will be able to purchase objects that are located either on the island of Madeira or inland next year. All resorts in Portugal are excluded from the list of objects for investment. Also, the investor cannot buy real estate objects in the capital and the city of Porto.

If you wish to participate in a residence permit program through investment in real estate under the current programs, you must apply during 2021. The specialists of our company will help you decide on the choice of profitable objects for purchase in terms of the liquidity of your investments until the options are still available in the resort areas and in the capital.

The minimum contribution in 2022 will remain the same as before. Old buildings and constructions for repair and restoration shall be purchased in the amount starting from €350,000 in large cities and €280,000 in small towns. Other objects shall be purchased in the amount starting from €500 thousand (€400 thousand in small towns).