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Investment in Golden Visa Compliant Properties
Portugal Citizenship for the Investors
Portugal has established the Golden Visa program with an objective to encourage the investors from outside the EU. Golden Visa provides the investors from outside the EU, who invest the minimum amount required by law, with a fast and efficient path to obtaining Portuguese, and with it, EU citizenship. The Portiguese “Nationality by naturalization” legislation has undergone some significant changes in the recent yeats, in an attempt to make the program more simple, easier, and more attractive fot those investors who seek to obtain Portuguese citizenship. One of the major changes was the announcement by the SEF, the Portuguese immigration department, that the time of legal residence required for obtaining citizenship will be reduced from six years to five. The requirements for meeting the legal definition of residence in Portugal, are:
– The applicant must spent a minimum of 7 days in the country per year
– The applicant must be registered with the Poruguese Tax authoritees
– The applicant must be able to demonstrated sufficient knowledge of Portuguese language and culture
– The applicant mus have and provide evicence for a clean criminal record.
If the applicant meets all these requirements, once the five years of residency have passed, they are eligible for applying for a Portuguese passport. The Golden Visa program is one of the most favourable EU residency programs, as the others usually require a significantly longer period of residence.
The changes made to the program since 2017 have positively resulted is significant improvements in the processing times for the Golden Visa applications. The processing times for the first time applicants now take approximately 90 days, while taking only 60 days for renewals, according to the most recent reports.
According to GoldenVisa.com, those who hold a Portuguese Golden Visa are entitled to:
– Live and work in Portugal, provided they reside in Portugal for a minimum of seven days in the first year and 14 days each subsequent year.
– Visa-free entry to Schengen area countries
– Family reunion, meaning that certain family members can also obtain Portuguese residency
– Access to Portuguese healthcare and education
– Freely invest in Portuguese property.
These are some of the major factors that contribute to the popularity of the program, consequently making Property Lisbon a favourite among the investors.
350.000 Golden Visa Properties
Lisbon Golden Visa Apartments
Portugal Golden Visa
Golden Visa – No More Uncertainty
There was a lot of speculation about whether participants in the Portuguese Golden Visa program would be eligible for full citizenship after they have held a Golden Visa for the specified time frame. As the first group of Golden Visa holders in Portugal have begun to finish their terms, reports confirm that the investors are obtaining not only permanent residence permits, but full citizenship as well, after having resided in the country for as few as 35 days.
Room for Interpretation
The applicants are required to be legally resident in Portugal for at least five years, before they are able to apply for and acquire a permanent residence permit. Until recently, at least one year of permanent residence was required to apply for citizenship. Under these regulations, investors would have to wait for six years before they could apply for citizenship.
Up until the middle of 2018, there was ambiguity about Portuguese Government’s definition of a legal resident. Specifically, the main question was whether or not the individual had to be physically present in Portugal or whether holding a valid residence permit for five consecutive years was sufficient.
The Best Possible Outcome
Now, fortunately, there are concrete examples of Golden Visa participants receiving residence permits and qualifying for citizenship, after having spent the minimum 35 days in the country rather than the majority of the required five years.
João Cunha Vaz, a Senior Partner at EDGE confirmed this favourable development when speaking to Investment Migration Insider.
“The reality is that at this stage we already have several clients who have transitioned their temporary residencies into permanent residencies, having complied with the minimum stay requirements applicable to the Golden Visa,” He explained.
“This is absolutely real and, with the recent change in the law enabling an applicant to request citizenship after five years of residency, we are now starting to have the first Golden Visa residents applying for citizenship,” he added, confirming that those now applying for citizenship are doing so on the basis of only having spent 35 days in Portugal.
The applicants will also have the option to forego physical residence requirements altogether, once the initial five years of holding a Golden Visa have elapsed.
“There is also a new category of permanent residency recently created that allows for an applicant to obtain permanent residency without then having to abide by any minimum stay requirements in Portugal. This is given to the applicant for five years (renewable every five years) and does not impose any minimum stay requirements,” noted Cunha Vaz.
This is the best outcome that the investment migration industry could have hoped for. With uncertainty surrounding potential different interpretations of the law settled, investors can now be certain, and hopefully encouraged to give this program a second look.
Portugal Golden Visa Property Investment
Property Lisbon Golden Visa Apartments
In one of the most cosmopolitan locations in Lisbon, known for its urban and business lifestyle, the French School, Amoreiras shopping mall and its proximity to Avenida da Liberdade with luxury brands offer. Living on the top of Lisbon’s skyline, these exclusive apartments ensure extremely impressive views over the river, the city and Monsanto’s National […]
In between the fashionable Chiado neighbourhood and the cool river breeze, find your new apartment on a perfect combination of a pombalin traditional architecture with contemporary comfort. From a studio up to 2 bedroom apartments, Alecrim 15 comprises 19 residential units varying from 39sqm up to 101sqm. 2 bedroom apartments also offer an extra storage […]
The Principe Real neighborhood was named after Queen D. Maria II’s firstborn son and is nowadays of the most elegant and calm neighborhoods in Lisbon. It’s one of the most vibrant and elegant areas of Lisbon filled with residences, trendy shops, stunning gardens and a couple of the city’s most tranquil squares to enjoy. When […]
Placed in one of Lisbon’s coolest neighborhoods, Benformoso Lux stands on 4 floors and is comprised by 14 apartments from T1 to T4 Duplex, with areas ranging between 35 and 150 sqm. With a refurbished look, Intendente is one of Lisbon’s coolest neighborhoods in terms of culture and innovation. Its recent makeover is bringing new […]
The city center is booming with great investments and return of income. This area is very popular for short-term renting and it is the most central area of Lisbon. Shops, Restaurants, traditional Portuguese cafes with an amazing variety of pasteis de nata, Baixa-Chiado is the place to be. Not only that, but you are two […]
This is an incredible 3 bedroom apartment in Oeiras, which is 10 min away from Lisbon, and 10 min away from Cascais. Oeiras is one the most famous councils in the greater Lisbon area, due to its excellent schools and universities, it’s business park centres Tagus Park and Lagoas Park with companies like Google, Cisco, […]
Bright 2 bedroom apartment in Baixa on a recently refurbished building. Spacious living room with 40 sqm, one bedroom on suite (16 sqm), another bedroom with 14sqm, fully equipped kitchen with 12 sqm . All areas with AC, double glazed windows, wood shutters, pinewood flooring, high ceilings and elevator. Enjoy Lisbon’s lifestyle from the heart […]
The genesis of the neighborhood of Graça relates to the foundation of Convento dos Agostinhos, which took place in the thirteenth century, under the name of Santo Agostinho. In 1305 this became the Convento da Nossa Senhora da Graça, which later gave the name to the neighborhood itself. The Graça neighborhood, which in these times […]
The neighborhood located in the upper area of Almirante Reis Boulevard is a quite residential yet filled with small traditional shops. This traditional part of Lisbon is filled with constructions form the fifties and sixties and is a lively neighborhood. The A.R. 246 development fits in the original design of this neighborhood. The refurbishment of this […]
This beautiful brand new property nearby the Marina will be finished by the beginning of 2021. This new development will feature an outdoor pool, children’s pool, indoor heated pool with a fantastic jacuzzi and also a gym. The entire project will also have gardens, storage room, underground parking and terraces with traditional tiles. The two […]
Bright apartments on a new development close to Av. da Liberdade and nearly finished – completion estimated for July. All units come with fully equiped kitchen, some having private terraces and parking spaces. A good investment for its location, suitable for short and long term rental. All units made with most modern apliances and constructive […]
Located in the middle of downtown Lisbon, next to the Rossio square and to major luxury shops, the Garcia 38 is surrounded by luxury shops, theaters, museums, cafes, restaurants and touristic attractions, to enjoy the best that Lisbon has to offer at a walking distance. Baixa has been going through some significant renovations which made […]
Buildings for sale in Lisbon city Portugal Here we have a wonderful investment opportunity to renovate a building near the famous AV Liberdade. Project approved for 6 Lisbon apartments which will contain: Two 1 bedroom apartments offering 65 sqm in size Three 2 bedroom Lisbon apartments between 75 and 90sqm in size And one 3 […]
Building project in Lisbon city centre for renovation Next, to the famous Avenida da Liberdade, you will find this character Lisbon building for sale. It retains a wonderful 19th-century facade. The building benefits from 5 floors which contains two bedroom apartments across floors 1-2-3. The top floor has a one bedroom apartment. The ground floor […]
New development in Baixa Lisbon full building renovation – 2 bed Apartments for sale from €660,000-€670,000
Located in the middle of downtown Lisbon, next to Praca Comercio and the Tagus river, the Baixa new development is surrounded by many shops, theatres, museums, cafes, restaurants and touristic attractions, to enjoy the best that Lisbon has to offer at a walking distance. Baixa has been going through some significant renovations which made of […]
Beautiful property with 6 hectares located in the heart of Alentejo, between two villages (Vila de Frades and Vidigueira). One hour and half away from Lisbon, 30 min from the city of Évora and 15 min from Beja. At the centre of the property, there are two twinned houses, composed by a ground floor and […]
In the centre of Lisbon, located between the zone of São Bento and Chiado, we have this magnificent 1 bedroom apartment. Fully furnished, with modern and functional decoration. It has one parking space; two elevators. The apartment is inserted in a historic building, an old Palace – Palácio Flor da Murta. The building has been […]
Luxury apartments in Lisbon for sale This beautiful apartment is located in central Lisbon, more precisely at the heart of Lisbon’s design district. The neighbourhood is considered to be the design district of the capital. In the Santos o-Velho area you can find several design shops and also art galleries. This neighbourhood is very contemporary […]
5 Bed Villa for sale in Lisbon – Luxury family homes near Lisbon This amazing villa is located in one of the most valuable areas in Lisbon -The Alvalade neighbourhood. Mostly is a residential area and it includes some excellent commercial areas and shopping, green areas and charming restaurants. Soon, this villa is fully refurbished, […]
2 Bed modern apartment in Lisbon with terrace and elevator Lisbon apartment for sale with Parking, Elevator and storage. In the Amoreiras area is a lovely neighbourhood of Campolide. It’s calm and quiet and the residential area is offering plenty of services and charming shops… This amazing apartment has a breathtaking view over Lisbon and […]
Portugal Golden Visa Investment & Associated Requirements
Alternative investment options that meet the Golden Visa requirements
The transfer of at least €1 million to Portugal, which may have one of the following investment sub-types:
– A bank deposit
– The purchase of Portugal sovereign debt instruments
– The purchase of any securities issued by Portugal-based entities
– Of any type and anywhere in Portugal
– In any number of properties
– Individually or in co-ownership
– Purchased either independently or through a property investment company
It is required that the investment is €500,000 at minimum (€400,000 if located in a “low density area”).
Real Estate and its rehabilitation
– Of any type and anywhere in Portugal
– Individually or in co-ownership
– Purchased independently or through a property investment company,
– Properties are at least 30 years old or are located in areas designated for urban rehabilitation
– Price of property purchase combined with ex-VAT value of rehabilitation add up to a minimum of €350,000 (€280,00 in a “low density area”)
– An investment of at least €350,000 in institutions accredited by national scientific and technological system (€280,000 in a “low density area”)
– Note: there are currently no open projects in this category for private investors
– An investment of at least €250,000 in support of the artistic production, or recovery or maintenance of the national cultural heritage, conducted by accredited institutions (€200,000 in a “low density area”)
– Note: there are currently no open projects in this category for private investors
Capitalisation of Companies
– An investment of at least €350,000 in Portugal-regulated projects of this category
– At least 60% must be invested in Portugal-registered businesses
– The property must have been purchased at least 5 years prior
– Setting up a new company in Portugal that creates and maintains at least five new permanent jobs, or
– Investing into an already-existing Portuguese company that creates and maintains at least five permanent jobs, for a minimum time period of 3 years
Single-member private limited company
– An investment in business that creates and maintains at least ten permanent jobs in Portugal. (8 in “low density area”).
– No minimum investment is required
Low Density Areas
– Regions with less than 100 inhabitants per square kilometre, or a per capita GDP of less than 75% of national average
– In practice, coastal areas south of the River Lima and north of the River Sado, are the only areas excluded from this category
– Any location within the national territory of Portugal
– Alternatively: An investment through a Portuguese bank in the case of the financial assets route
– The investment must be kept for at least 5 years
Changes to the Investment
– New investment must be of the same investment type, or sub-type of the original
– The replaced investment may only be disposed of once the new investment has been made
Changes – Mortgages
– The investment must be kept free of charges, but only in respect of the minimum required amount
– There are no other restrictions in this category
– Investment can be made privately or through a company
– It can be made individually or jointly
– The property investment company must be based in Portugal
– It can be of any type (residential, agricultural, commercial, etc.)
– It can be bought wholly or be in-part ownership
– It is not required that the property generates income
Shares and Other Securities
– The issuing entity must be located in Portugal
– It can be new or long-established
– It can be of any type
– It may or may not be listed on the stock exchange
Timing and Cost Consideration
The Financial Assets Route is most suitable for investors to whom time, flexibility and cost-efficiency are essential. Before they even begin travel, they may transfer €1 million to Portugal, and spend less than 1 day in Portugal in order to attend the mandatory border agency biometrics session.
The Real Estate Investment Route is a quick way to purchase a property without viewing it first, which is commonplace.
The Job Creation Route is the least demanding in terms of immediately available capital, but it is the slowest and most complicated option.
– You must not be an EU, EEA or Swiss citizen
– You must not have been convicted of a crime punishable by more than 1 year of imprisonment under Portuguese law
– You must not be banned from entering the Schengen Zone
(Documents that should be obtained in your country of origin)
– Valid Passport and, if applicable, a valid Schengen Visa for each applicant
– Criminal record certificate (sometimes called Police clearance letter) for each applicant who is over 16 years old, issued by the country in which the applicant has most recently resided for at least 1 year, certified by the Portuguese consulate or by the apostille of the Hague convention.
– Proof of residence (a copy of the driving licence, a copy of a recent utility bill, or a copy of a recent bank statement) for the main applicant
– Proof of professional occupation of the main applicant (a letter from the employer)
– Documentary evidence of the eligibility of the family member (marriage certificate for the spouse, birth certificates for the children, marital status certificate, proof of enrollment as full-time students if over 18 years old, birth certificates for the applicants having dependent parents, certificates of no income of the latter if under 65), also must be legalized by either a Portuguese consulat or the apostille of the Hague Convention
– Certified translations of foreign-language documents into Portuguese by a Portuguese consulate-accredited translator or by a Portuguese lawyer
Documents to be Obtained in Portugal
– Permission for the Portuguese authorities to access the applicant’s Portuguese criminal record
– A Portuguese tax indentification number(Only available through appointing a local tax representative)
– Proof of no debts to the Portuguese national tax and insurance offices
– Signed statement that the applicant will fullfill the investment requirements
– Evidence that the minimum investment has been made
– Receipt of the payment of the application fee
– Since January 2018 it is required that all Golden Visa applications are initially filed online, together with copies of all required documents, including those pertaining to the investment
– The Government application fee may also be paid online at the time of online application
Biometrics-Collection Session in Portugal
– Upon approval of the online documentation, a biometrics-collection session must then be booked (also online) and this session must be attended by all applicants, including babies
– Dependants’ applications may be submitted at a later date
– The original documentation must be submitted at the biometrics-collection session, but their validity is calculated on the basis of the online filing date.
Approval of the Residence Permit Application
– If all documentation is in order, your application will be approved, after which you must pay the residence permit issue fee
– The residence permit must be renewed after 1st and 3rd year
– You may apply for permanent residency or citizenship at the end of the 5th year
– There are no maximum stay requirements
– You must spend at least 7 days in Portugal, not necessarily consecutive, during the 1st year of your initial investment
– You must spend 14 days, not necessarily consecutive, during each subsequent 2 year period
– Portuguese border agency may require to see evidence that you complied with these minimum stay requirements when you apply for the visa renewal (passport stamps, flight tickets, proof of lodging)
– As long as you comply with the minimum stay requirements, your right to permanent residency or citizenship after 5 years will not be affected by how much time you actually spent in Portugal
At any time after your initial Golden Visa application, you may apply for Golden Visa to be issued to your family members. The family members that are eligible for Golden Visa are as following:
– Spouse or partner
– Under-18 year old children
– Over-18 dependent children who are under 26, unmarried and enrolled as full-time students
– Dependent parents of either spouse or partner
– Under-18 year old siblings of either spouse or partner if legally under their supervision
Lisbon Golden Visa Properties
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