Residence Permits for Investors in Portugal
Why Portugal?
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28th country on the Better Life and Safety OECD Index
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Weather and environment quality climate (17th country on the OECD Index)
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Modern and Cosmopolitan country
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278 daily flights from Portugal to the World
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Estimated 3300 hours of sunshine per year, one of the highest rates in Europe
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Top conditions for sports (Golf, sailing, diving, biking, trekking)
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Best European Golf Destination, has 9 of the best 100 European Golf Courses
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Value for money in real estate investments
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Affordable cost of living
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State of the art health system
Advantages
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No entry visa for Portugal
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Visa-free travel within the Schengen area
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Living, working, retire, have access to quality health care and education in Portugal
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Residency extended to family members
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Minimal physical requirement
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Growing real estate market
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Permanent Residency after 5 years
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Citizenship after 6 years
HOW to Get the Golden Visa?
Recently, in October 2012, the Portuguese Government through the Ministry of Foreign Affairs, has established new legislation that allows non EU citizens, through investment in the country, to obtain a residence permit, commonly known as the “golden residence permit”, or “golden visa”, which enables foreign Investors to travel freely in the Schengen area.
A “golden residence permit” may be granted to foreign non EU Citizens, by making an investment in the country, for a minimum period of 5 years that leads to one of the following situations:
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Transfer of capital in an amount equal to or greater than € 1 000 000 (one million Euros)— In the case of transfer of capital, the applicant must present a declaration issued by a Portuguese financial institution, which proves the effective transfer of the capital in an amount equal or greater than € 1.000.000, 00 (one million Euros), and certifying that the applicant is the sole or first holder of the capital. The investment can be made through a company, as long as the investor’s personal share in the company fulfills the minimum amount of investment;
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Creation of at least 10 jobs — In the case of investment that leads to the creation of at least 10 jobs, the applicant must prove to have employed 10 people, and registered the employees in the social security, by presenting a Certificate issued by the Social Security authorities;
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Acquisition of property in an amount equal to or greater than € 500 000 (five hundred thousand euros).
1 The Schengen Area is a group of 26 European states which have abolished passport and immigration controls at their common borders. It functions as a single country for international travel purposes, with a common visa policy.
2 The holder of a golden residence permit may travel freely in the Schengen Area (Germany, Austria, Belgium, Denmark, Slovakia, Slovenia, Estonia, Spain, Finland, France, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxemburg, Malta, Norway, the Czech Republic, the Netherlands, Poland, Portugal, Sweden and Switzerland).
Renewal of the Golden Residence Permit
The residence permit is valid for a period of 1 (one) year, from the date of issue, and may be renewed subsequently for periods of 2 (two) years, provided that the initial conditions of granting are maintained.
For renewal of the Golden Visa, applicants must prove that they have stayed in Portugal for at least 7 (seven) days in the first year and 14 (fourteen) days in each subsequent period of 2 (two) years. 3 4
3 Family Reunification and Residency Permit for Family Members — Holders of Golden Residence Permit for Investment Activity may apply for family reunification under the provisions of the General Law, for family members (spouse and children), who are outside the country, which have lived in another country and are dependent; The Application for Residency Permit may also be extensive to minors who are dependent of the applicant. The Family member who holds a Visa, or when granted the request for Reunification of family members, a Residence Permit is granted to the family members for the same duration as the resident permit holder.
4 Permanent Residence Permit and Portuguese Citizenship — T he holder of the Golden Visa may obtain a Permanent Residence Permit after (5) years, as well as Portuguese citizenship 1 (one) year later, according to legal provisions in force, by meeting the following conditions: i) Has held a temporary residence permit for at least 5 years; ii) Possesses subsistence means; iii) Has guaranteed accommodation; iv) Has sufficient basic knowledge of the Portuguese language.
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