Golden Visa
In our country, the Gold Visa Program (Residence Permit for Investment activity) has been in force since 2012, and this is a mechanism for attracting foreign investment. thus representing 4% of the total immigrants living in our country.
- Enter Portugal with waiver of residence visa;
- Reside and work in Portugal, and must, at least, stay in Portugal for a period not inferring to 7 days in the first year and not less than 14 days in subsequent years;
- Move around the Schengen area without a visa;
- Benefit from family reunification;
This amendment of the Portuguese Immigration Law has made the country a privileged gateway to Europe for those wishing to enjoy freedom of movement in the Shengen Area (Germany, Austria, Belgium, Denmark, Slovakia, Slovenia, Spain, Estonia, Finland, France, Greece, Hungary, Iceland, Italy, Latvia, Lithuania, Luxembourg, Malta, Norway, Netherlands, Poland, Portugal, Czech Republic, Sweden and Switzerland).
In 2015, new changes were announced to the procedures that give access, through investment, to the Gold Or Golden Visa.
Real estate investment covers:
– Purchase of one or more properties with a total value equal to or greater than €500,000, or;
– Acquisition of one or more properties completed more than 30 years ago or located in urban rehabilitation areas, with urban rehabilitation works according to the respective law, in the overall amount equal to or greater than 350 000€.
This type of investment includes:
– Commercial or residential real estate;
– properties acquired in co-ownership, provided that the investor's share is at the minimum value indicated;
– Properties acquired individually or through single-person companies by shares of which the investor is a partner;
- Leased properties;
– Onsage properties, in the part that exceeds the minimum value of the investment.
The legislator establishes the possibility of reducing the amounts concerned by 20% if real estate is located in areas of low population density. According to current law, it is considered territory of low population density if it has less than 100 inhabitants per km2 or if the GDP of this region is below 75% of the national average.
The residence permit shall be granted for a period of one year, renewable for two successive periods of two years and presupposes the maintenance of the investment for a minimum period of 5 years and the stay in Portuguese, (followed or interpolated) in the first year, and 14 days (followed or interpolated) in subsequent two-year periods.
The authorisation may be extended to the investor's family members and, after the initial period of 5 years, the residence permit may be granted on a permanent basis. After 6 years, Portuguese nationality by naturalization can be requested.
