Portugal Golden Visa program is a five-year residence-by-investment program for non-EU nationals. The Golden Visa allows free circulation in the Schengen area and only requires an average of seven days per year stay in Portugal over this period, which can also count towards citizenship eligibility after six years.
Golden Visa Investment Routes
Portugal has produced streamlined legislation to create an efficient process by which non-EU residents may obtain a residence permit based on investment. The Golden Visa offers three qualifying routes for committing funds to obtain residence status under the Golden Visa program, which must be maintained for a minimum period of five years. After six years as a resident, the applicant is eligible to apply for Portuguese citizenship.
The Golden Visa program’s qualifying options are:
- Capital transfer of a minimum of EUR 1 million into a Portuguese bank account or specifically approved investment options
- EUR 350,000 for research activities of public or private entities that are part of the national scientific and technological system*
- EUR 250,000 in support of artistic production or in the recovery or maintenance of the national cultural heritage*
- EUR 350,000 for the acquisition of units of investment funds or venture capital funds committed to the capitalization of companies incorporated under the Portuguese law, with a maturity of at least five years and with at least 60% of the investment portfolio in companies with a head office in the national territory**
- A real estate purchase with a minimum value of EUR 500,000*
- A real estate purchase with a minimum value of EUR 350,000 for the refurbishment of properties older than 30 years or in an area of urban regeneration, including the cost of renovations*
- Creation of a minimum of 10 new jobs*
- EUR 350,000 for the incorporation or increase of the share capital of a company registered in Portugal, creating or maintaining a minimum of five permanent jobs, for a period of three years**
The EUR 1 million capital transfer option is a straightforward route and can include investments in stocks and shares.
Advantages of Portugal Golden Visa
Portugal is the westernmost European country. Its colonies extended across Africa, Brazil, Persia, Indochina, and the Malay Peninsula, creating one of the world’s most globalized and peaceful nations. Portugal is considered very safe and has a low crime rate. Although Portuguese is the official language, English is widely spoken, especially in tourist regions.
The country is a member of the Schengen area and began using the euro as its currency in 2002. While Portugal is shifting towards offering business-oriented services, a third of its economy remains in manufacturing. It is the world’s largest supplier of cork and enjoys the benefits of a strong tourism industry.
Portugal has an excellent real estate offering, whether for lifestyle or investment, with a large geographic, environment, and price-point diversity, and many applicants desire to combine the residence permit’s mandatory qualifying stay (an average of seven days per year) with longer visits to Portugal.
Free circulation in the Schengen area
Like any other holder of a residence permit in Portugal, ARI holders can move freely within the Schengen area.
Rights for family reunification
ARI holders may apply for family reunification under common law (enabling their immediate family to also acquire an ARI).
Obtain Permanent Residency
After 5 years (which is also with the minimum duration of investment under ARI rules) the investor and his/ her immediate family may apply for a permanent residence permit.
Obtain Portuguese Nationality and European Citizenship
After 6 years (one year after the minimum required for investment on the ARI system) the investor and his/her immediate family members may petition for Portuguese citizenship.
Connaught Law will endeavour to match the applicant’s personal objectives with the program’s requirements, aiming for a rapid and seamless process which combines the residence permit procedure and the parallel financial commitment.
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