The Portuguese Golden Visa program
The so called golden visa program allows a residence permit, including visa free access to the Shenghen area, with a relatively low investment
Under the Portuguese residence by investment program (also known as Golden Visa) non-EU citizens can obtain a temporary residence permit.
The permit requires a minimum permanence period in Portugal of just 7 days during the first year and 14 days in any two of the subsequent years.
As mentioned subsequently, a qualifying investment is also required (real estate acquisition, transfer of funds or job creation) . The same can be reduced by 20% whenever investments are located in defined low density areas.
Acquisition of real estate with a value of at least EUR 500,000, or EUR 350,000 for properties with more than 30 years or located in areas for urban regeneration.
Transfer of funds
Transfer of at least:
-EUR 350,000 if the funds relate to:
Research activities by scientific institutions (either public or private) that are members of the national scientific and technological system;
Acquisition of units of investment funds or venture capital funds aiming at the capitalization of Portuguese companies (at least 60%), provided the maturity is not lower than five years counting from the investment;
-EUR 250,000 if the funds are allocated to qualifying artistic activities (production, recovery or maintenance of national cultural heritage) through predefined institutions.
The creation of at least:
- 10 new jobs; or
- 5 new jobs for a minimum period of three years, together with a minimum investment of EUR 350,000 to the incorporation of a new Portuguese company or the increase of the share capital of an existing Portuguese company.
The golden visa regime allows the investor to enter in Portugal and to freely travel in the Schengen area, to live and to work in Portugal, to request for family reunification (spouse, minors of age, descendants above 18 who are still studying and financially dependent on the investor and parents who are financially dependent on him).
If some other requirements are met, after 5 years of residence the investor can also apply for a permanent residence permit or even apply for Portuguese citizenship. In this later case he will have access to all European Union fundamental freedoms (e.g. working and services, establishment and investment).
The golden visa program does not require the investor to become Portuguese resident. Nevertheless this is obviously possible and in such case the investor may also opt for the special Non Habitual Resident regime (NHR) offering a number of very relevant personal income tax benefits.
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April 2020 update
For generic information purposes only
Specific advise must be obtained before any decision is taken