PORTUGAL GOLDEN VISA
GOLDEN VISA SCHEME PORTUGAL
The Golden Visa Program in Portugal has proven to be the most popular scheme in Europe with Investors attracted to its ease and flexibility to obtain along with all the benefits it provides.
The visa program was launched in 2012 and has been promoted by the Portuguese government as an investment in real estate, there are several ways to obtain the visa with the most popular being an investment of 500,000 Euros in to a freehold property in Portugal, there is a reduced version of this at 350,000 Euros however there are certain criteria that must be met.
The visa allows you and your dependent family (Children & Parents) to gain a residency permit in Portugal for 12 months and is then renewed on a 2 yearly cycle, to qualify for renewal you simply have to spend a minimum of 7 days in Portugal per year. This visa will allow you to travel freely across Europe within the Schengen Zone.
The most attractive part of the visa is that after 5 years of title you can then apply for permanent residency within Portugal and after 6 years you can apply for citizenship, the basic requirements to qualify is the initial investment, a clean criminal record and the ability to spend a minimum of 7 days in Portugal each year, without the need to reside in Portugal this visa has become the most attractive and popular option across Europe.
Once residency has been granted you will have the right to live, work and study anywhere within the European Union, once citizenship has been granted you will become a European citizen and will have the same rights of anyone in Portugal.
In 2012, Portugal approved special legislation designed to attract foreign investment, by offering a fast way for property investors (non EU citizens) to receive a residence permit, making it a privileged entry into Europe and allowing such permit holders free circulation in Schengen countries.*
On September the 2nd, 2015, new amendments were added to the procedures that allow, through investment, obtaining the residence permit known as the Golden Visa.
Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Lithuania, Luxembourg, Malta, Norway, Netherlands, Poland, Portugal, Slovakia, Slovenia, Sweden and Switzerland.
As of this date, it is possible to apply for this visa through one of the following investment options:
Capital transfer in the amount equal to or greater than 1.000.000 Euros.
Create, at least, 10 new jobs.
Property acquisition in the amount equal to or greater than 500.000 Euros.
Acquisition of property over 30 years old or property located in urban renewal areas with rehabilitation works totaling the amount equal to or greater than 350.000 Euros.
Capital transfer in the amount equal to or exceeding 350 000 Euros to public or private national institutions for scientific research.
Capital transfer in the amount equal to or exceeding 250.000 Euros for investment or support for artistic production, recuperation or maintenance of national cultural heritage.
Capital transfer in the amount equal to or exceeding 500.000 Euros for the purchase of shares in mutual in investment funds for investment in small and medium enterprises.
REAL ESTATE INVESTMENT COVERS
Acquisition of one or more properties with a total value equal to or exceeding 500.000 Euros.
The acquisition of one or more properties over 30 years old or located in urban renewal areas, with rehabilitation works, in accordance with the corresponding legislation, totaling an amount equal to or greater than 350.000 Euros.
This type of investment includes:
Commercial or residential properties.
Real estate acquired in co-ownership, as long as the investor's share is at least the minimum indicated value.
Properties that are acquired individually or through sole proprietorship companies in which the investor is a partner.
Properties encumbered, by the amount that exceeds the minimum amount of the investment.
The government establishes the possibility of reducing the amounts in question by 20% if the properties in question are located in areas of low population density. According to current law, it is considered a territory of low population density if it has less than 100 inhabitants per km2 or if the GDP of that region is below 75% of the national average.