© 2016 by MLP Advogada

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GOLDEN VISA

The Golden Visa Program launched by the Portuguese Authorities in October 2012 is a fast track for foreign investors from non-EU countries to obtain a fully valid residency permit in Portugal ("Golden Visa").

Under the Golden Visa program, non-EU citizens simply need to carry out one of the investments set out in the law to qualify to obtain a residency permit in Portugal. This residency permit will allow the investor to enter and/or live in Portugal and to travel freely within the vast majority of European countries (Schengen space).

 

Aimed at attracting foreign investment to Portugal, the Golden Visa is a very straightforward and flexible program, with simple and clear legal requirements. With extremely reduced minimum stay requirements, the Golden Visa is clearly one of the most attractive residency programs for investors in the world.

The Golden Visa Program will provide investors with the following advantages:

- No need to obtain a visa to enter Portugal

- No need to obtain a visa to travel in Europe (Schengen area)

- Living and working in Portugal, even with residency in a different country

- Extremely low minimum stay periods

- Permanent Residency after 5 years

- Citizenship after 6 years

- Residency extended to family members

 

The requirements to obtain the Golden Visa are:

 

- Acquisition of property in the amount of or greater than € 500.000

- Transfer of funds above € 1.000.000 or more

- Creation of at least 10 jobs in Portugal

The simplicity of the Golden Visa Program implies an extremely reduced amount of requirements being asked from the investor. The Golden Visa Program sets out that the investor must comply with general requirements applicable to all types of qualifying investments and also with the specific requirements of each type of qualifying investment.

 

In general, all investors have to comply with the following requirements:

  • Keep the investment for a minimum period of 5 years

  • Funds for investment should come from abroad

  • Entry in Portugal with a valid Schengen visa

  • Absence of references in the Portuguese Immigration and the Schengen services

  • Absence of conviction of relevant crime

  • Minimum stay in Portugal: 7 (seven) days during the first year and 14 (fourteen) days during each subsequent period of two years

 

Each type of investment has specific characteristics, as follows:

  1. Property Acquisitions

o    Minimum investment of € 500.000

o    Purchase of one or multiple properties

o    Possibility of co-ownership

o    All property types qualify

o    Freedom to use, rent or lease

  2. Transfer of Funds

o    Minimum investment of 1 million euros

o    Purchase of one or multiple properties

o    Total freedom to invest the funds

o    Funds transferred from abroad to a bank in Portugal

o    Possibility of using the funds to invest in shares of companies

  3. Job Creation

o    Creation of a minimum of 10 jobs

o    No limitation on areas/activities

o    No minimum investment value

o    Compliance with Social Security obligations

o    Possibility of grants/incentives/benefits

 

Once issued, the Golden Visa will be valid for an initial period of 1 (one) year and then will be renewed for subsequent periods of 2 years

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