Understanding the residence permit for investment activity (Golden Visa)
Let’s cut to the chase! Long story short, the Golden Visa Portugal is a residency program that benefits those who make certain types of investments in the country.
The main attractive points that we can highlight about the Golden Visa are:
- Residence visa waiver for entering Portugal;
- Living and working in Portugal
- Right to family reunification, which means that, in order to preserve the family unit, the holder of the residence permit can bring their family members to reside in Portugal;
- Free movement throughout the Schengen area;
- Low minimum stay periods compared to other residency / citizenship programmes (7 days, in the first year and 14 or more in the subsequent years)
- Applying for Portuguese citizenship, by naturalisation, provided all other requirements set out by the Nationality Act are fulfilled
Who is entitled?
Any national from countries outside the European Union and European Economic Area who makes certain types of investments in Portugal is entitled to apply for the Golden Visa.
What types of investments are allowed under the Portugal Golden Visa?
- Capital transfer with a value equal to or above € 1,500,000
- Creation of at least 10 (ten) jobs in Portugal
- Acquisition of real estate for housing pricing at least € 500.000
Please note: Properties located on a large part of the portuguese coast, Lisbon or Porto are no longer eligible. Access to the Visa Gold is only allowed in cases where the property, used for residential purposes, is located in the “interior territories” of Mainland Portugal (Portugal Continental). This restriction does not exist when it comes to properties located in the Autonomous Regions of the Azores and Madeira. The inland areas where real estate investment is possible can be found in the annex to Ordinance No. 208/2017, of July 13th (Portaria n.º 208/2017, de 13 de julho).
- Acquisition of real state for rehabilitation, over 30 years old or located in urban rehabilitation areas with a minimum value of € 350.000
The forementioned restriction to the location of the property applies to this type of investment as well.
- Investment in scientific research activities no less than €500.000
- Investment of at least €250.000 in artistic production, reconstruction, or refurbishment of national cultural heritage
- Transfer of capital in the minimum amount of € 500.000 to constitute a commercial company, combined with the creation of five permanent jobs, or for the reinforcement of the share capital of a commercial company, already existing, with the creation or keeping of working jobs, with a minimum of five permanent jobs, and for a minimum period of three years.
- Investment in mutual funds or capital gains of at least €500.000
Permanent Residence Permit
At first, you get the golden residency visa and, after the legal period required is fulfilled, a permanent residency permit can be requested in accordance with Act 23/2007 of July 4 (Lei 23/2007, de 04 de Julho).
