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The Golden Visa

The Golden Visa program - From €500.000
 
Find out how to get your Golden Visa in Portugal
A Portuguese Golden Visa provides not only secondary citizenship and freedom to travel around Europe, but also access to the rich European markets. International investors seeking global opportunities are taking good advantage of this program.

New laws approved by the Portuguese Government open up the possibility of applying for a residence permit to Citizens of Non European Union countries.

This new residence permit seeks to attract new investment into Portugal through the purchase of real estate for a minimum period of five years.

The holders of the residence permit for investors will have the right to family regrouping and may gain access to a permanent residence permit, as well as to Portuguese citizenship in accordance with the current legal provisions.

The investor must purchase one or more properties with a value of or above € 500,000.00 (five hundred thousand Euros). They may also choose to purchase a property in co-ownership as long as each co-owner invests more than € 500,000.00 (five hundred thousand Euros).

The requisite of purchasing a property can also be demonstrated with a promissory contract with a deposit of or above € 500,000.00. This means that a residence permit for investment can be applied for with a mere signed promissory contract.
The promissory contract must be registered at the Land Registry Office and before renewing the residence permit for investment, the title deeds of purchase and sale must be presented.

A declaration issued by a financial institution is also necessary to prove the transfer of the capital for payment of the deposit in the promissory contract in the amount of or above € 500,000.00 (five hundred thousand Euros).

The properties purchased can be rented out or leased for commercial, agricultural or tourist exploration.

 

To apply for the residence permit the following documents must be presented to the Portuguese authorities (SEF):

- Evidence of ownership of real estate free from any liabilities, with an up-to-date certificate issued by the Land Registry Office.

- To prove compliance with tax obligations, the applicant must present a declaration proving the absence of debts issued by the Inland Revenue and Customs Authority and by the Social Security

- The investor must stay in Portugal for 7 days in the first year and 14 days in each of the following two years.

- Applicants must not have been convicted of a crime punishable with imprisonment of over one year.

- Applicants must not be the subject of an entry ban into national territory following a removal order from the country.

- Applicants must not be the subject of alerts in the Schengen Information System.

- Applicants must not be the subject of alerts in SEF´s Integrated Information System issued for purposes of non-admission

 
Other requirements under General Law:
 
Documents

- Passport or another valid travelling document

- Proof of legal entry and permanence in national territory
- Proof of health insurance

- Signed application enabling verification of the Portuguese Criminal Records by SEF

- Criminal Record Certificate from the relevant authority of the applicant's home country or from any other country where he / she resided for over a year, requirements of the investment activity

- Investment activity for a minimum period of five years attested by a bona fide declaration signed by the applicant

 

Family Regrouping

The holders of this residence permit for investment may apply for family regrouping under the provisions of the General Law.

The process of family regrouping will take three months.

Family regrouping is authorised for the following members:

- spouse

- Underage children (-18)

- Adult children that are single and studying in a Portuguese School.

Other situations are also possible but must be verified beforehand with the Portuguese Authorities and the Portuguese Law.

 

Expense to be paid for the purchaese of the property

To purchase properties in Portugal you must pay several taxes and expenses depending on the value of the property. For this situation we would advise the costs to be around 7% of the purchase price of the property.

 

Expenses to be paid for the Golden Residency Permit

At the time of the request for the residence permit it is necessary to pay € 500.00 (five hundred Euros) and when it is approved by the Portuguese authorities it is necessary to pay an extra € 5,000.00 (five thousand Euros).

 

Expenses to be paid for family regrouping

After you have applied for the Family Regrouping it is necessary to pay € 5,000.00 (five thousand Euros).

 

Legal Fees

The legal fees will be charged by your chosen Law Firm and are in the region of 1% (plus VAT) of the investment and it includes due diligence regarding the property, promissory contract, deeds, the request for the Golden Residence Permit and the request for the Family Regrouping.

 

Conclusion

Whether you’re thinking of retiring, owning a second home in Europe or you’re just looking to invest, we specialize in helping people like you find the right properties in the Algarve, the top spot in Portugal. With a network of expert advisers we’ve got the resources to make it happen.

We hope this information was useful. 

 

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