Portugal Golden Visa Investment & Associated Requirements

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

Real Estate
– 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,
Provided that:
– 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”)

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Scientific research

– 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

Arts
– 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

New Jobs
– 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

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Investment specifications

Location
– Any location within the national territory of Portugal
– Alternatively: An investment through a Portuguese bank in the case of the financial assets route

Duration
– 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

Structure
– 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

The Property
– 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.

Personal Requirements
– 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

Documentary Requirements

(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

Procedural Requirements

Online Application
– 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

Stay Requirements
– 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

Family Reunion
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

 

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