Investing in Portugal makes you eligible for a resident permit. This is because of a scheme designed by the Portuguese government to boost investment in the country. Known as the Golden Visa, this scheme has worked exceedingly well for Portugal.
The Golden Visa scheme targets investors who are not citizens of EU/EEU countries or Switzerland. To be considered for a golden visa, there are some requirements you must meet. This article explores some Golden Visa Portugal rules interested investors should be aware of.
Investment Visa Rules
To begin with, you gain a residence permit when you invest in the country. This is the backbone of the scheme. After all, it was set up to attract investors to the European nation. Other rules include:
- Transferring capital to build a business in the country
- Changing the category of investment to satisfy renewal authorizations
Citizens holding a residence of permit and who meet the requirements will be issued ‘a residence permit for permanent investment activity’. This is according to a new regulatory decree which also adds a slew of additional declarations.
The permanent residence permit comes with a no minimum period clause. It was designed primarily for golden visa holders. They are not required to stay a minimum of two months in Portugal to qualify for this permit.
As long as the holders continue to invest in the country, the law will grant them a permanent residence permit. Simply put, they are expected to sustain their investment in order to be considered for a permanent residence permit.
Moreover, golden visa holders are also expected to invest in capital funds and Portugal-based companies that create employment. If you invest in stocks and venture capital funds, you need a declaration issued by the investment fund’s management. This declaration ensures:
- The viability of the plan
- That it is set to mature in at least 5 years
- The application of not less than 60% of your investment in commercial companies based in the national Portuguese territory
As an investor, the Golden Visa Portugal rules allow you to alter your investments but the value cannot be reduced. If you invested in property worth €500,000, you can only invest the same amount or more in a different type of investment.