The Portuguese Golden Visa offers successful applicants full family residency including the right to live in Portugal and benefit from free travel within the Schengen area. The Visa comes with a minimum stay requirement of only seven days within the first year, after which it may be renewed for two-year periods, provided that a minimum stay requirement of 14 days is met in these subsequent periods.
There are numerous investment routes with varying commitments, that an interested applicant may take, making the Portugal residency programme a highly flexible one. Should an applicant decide to invest in real estate, the property market in Portugal is a thriving one which offers compelling prospects. Particularly in the capital city of Lisbon, interest from abroad has helped to boost prices while maintain them at an average affordable price of €1,350 per sq metre.
After 5 years of legal residence, not only may an individual apply for Permanent Residency, but they can also apply for citizenship. This requirement of ‘legal residency’ calls for applicants to be physically present in Portugal for as little as 35 days within the preceding 5 years. A Portuguese passport would grant visa-free travel to a total of 177 destinations. Portugal also permits dual citizenship, meaning that any original citizenships need not be renounced upon acquiring a Portuguese one.
|Free travel within Schengen|
|Minimum stay requirement of only 7 days within 1st year|
|May be renewed for 2-year periods|
|Dual citizenship allowed|
|Permanent Residency after 5 years of legal residence|
|Apply for citizenship after 5 years of legal residence|
Qualifying applicants for the Portugal residency programme have to be non-EU citizens of good standing, with the main applicant being 18 years of age or over.
Eligible dependents include the spouse, dependent children and dependent parents, as well as siblings under the care of the main applicant. Children over the age of 18 may also be considered as dependent given they are financially dependent on the main applicant or enrolled in an academic institution.
Applicants must not have a criminal record and they must enter Portugal for the first time on a valid Schengen visa.
|Eligible dependants may include spouse, children, siblings, and parents|
|Open to all non-EU applicants of good standing|
|Main applicants must be over the age of 18|
|Clean criminal record|
|Must enter Portugal for the first time on a valid Schengen visa|
Investment requirements for the Portugal Residency Programme may be related to three areas- real estate, employment opportunities, or capital.
The investment requirements for real estate range between €280,000 and €500,000, and property can be bought out either by a single investor or through co-ownership. If investment is made in new property, the minimum requirement is that of €500,000, or can be reduced to €400,000 if the property is located in a low-density area (having less than 100 inhabitants per square kilometre). Investment for property which is older than 30 years and situated in urban regeneration areas must be valued at least at €350,000, with the possibility of this threshold being reduced to €280,000 if property is bought in a low-density area.
For job creation, there is no minimum investment value or limitation on specific areas/activities, as long as long 10 permanent jobs are created in Portugal which are verified by the local social security obligations. The minimum requirement can be deducted to eight employees if the investment is made in a low density populated area. Other options exist that incorporate job creation and transferring capital, as highlighted below.
Varying options are available should one choose to invest in the Portuguese residency programme through a capital transfer. The main applicant may invest €1,000,000 in a Portuguese Financial Institution over a period of 5 years. Another option would be a €500,000 investment in funds or in venture capital geared towards small and medium companies. Both of these fund transfers could be used for the purchasing of shares. Alternatively, a €350,000 investment in scientific research activities, or €250,000 in the recovery or maintenance of national arts and culture can also be carried out, on the condition that these are conducted by recognized institutions.
In November 2017, two other options were introduced for capital transfer. The first is a minimum of €350,000 transfer of capital for the acquisition of units of investment funds or venture capital funds for the capitalization of companies. This has to be reflective of Portuguese law, and have a maturity of at least five years at the time of investment, and 60% of the investment value has to be dedicated to a commercial company based in Portugal. The other initiative is a capital transfer of €350,000 for the establishment of a commercial company which has its head office in Portugal, along with the creation of five permanent jobs; or otherwise the same transfer amount for the reinforcement of the share capital of a pre-existing commercial Portuguese firm with the creation or retainment of working jobs, the minimum being five permanent jobs, and for a minimum period of three years.
As 2019 came around, yet another new option was introduced as part of the programme, known as the “Green Visa” option. Through this option, foreign individuals may obtain Portuguese residency by making an investment of at least €500,000 in organic agriculture, ecotourism, renewable energy and other environmental projects that contribute to cutting down on carbon emissions.
|One of the below investments:|
|Minimum €500,000 in real estate. Lower thresholds may apply for qualifying property|
|Capital transfer ranging from minimum €250,000 to €1,000,000. Subject to specific requirements|
|Minimum €500,000 in environmental projects|
Our advisors can provide you with personalised advice regarding any one of the citizenship by investment programmes listed above.