Portugal Golden Visa Program

Portugal Golden Visa Program

by nabeel

Golden Residence Permit

Portuguese Golden Residency Permit
New legislation aimed at attracting foreign investment to Portugal.
Fast track for foreign investors to obtain Residency Permits in Portugal.

Types of qualifying investments:
Property Investments – Acquisition of Properties above €500,000 in total.
– There is also the possibility of requesting the residency permit just with the signature of a Promissory Contract of – Purchase and Sale with a payment of a deposit of 500,000 Euro.
– Joint acquisition of properties provided that each of the joint owners invest €500,000 or more (for example: 3 investors could make a joint investment of 1.5M€).
– Possibility of financing above €500,000.
– Total freedom to rent or lease the properties;

Capital Investments:
– Transfer of Funds above € 1,000,000. This may include direct investment into any company in Portugal.

Job Creation:
– Creation of a minimum of 10 jobs.

General requirement
– Investments maintained for a minimum of 5 years.

Portuguese Golden Residency Permit – Property Investments – Legal Information:
– Acquisition of Properties above € 500,000.
– Purchased after 8th October 2012.
– Acquisition completed before the application for residency permit.
– Properties acquired free from any charges or mortgages.
– Minimum stays in Portugal – 7 days first year & 14 days following periods of 2 years.
– Residency Application made within a maximum of 90 days after entry in Portugal.
– Residency Permit granted for an initial period of 1 year & renewed for periods of 2 years.
– Possibility of permanent residency after year 5 and nationality one year later.
– Bearers of Investor Residency Permits may travel freely in the Schengen area.

Portuguese Golden Residency Permit – Documents & requirements:
– Valid Passport and Schengen Visa.
– Valid travel document and medical insurance.
– Updated property documents showing ownership of property.
– Proof of means of income and proof of address.
– Accommodation.
– Absence of criminal conviction and of interdiction to enter the country.
– Absence of notice from the Portuguese Immigration Authorities or Schengen Services.
– Declaration from the investor confirming compliance with the investment requirements.

Portuguese Golden Residency Permit – Typical Application costs:
– Processing Fee (initial application and renewals)
=Investor – € 514.80
=Family member – € 80.20 per person
– Initial Investor Residency Permit – € 5,147
– Renewal of Investor Residency Permit – € 2,573.90
– Initial Residency Permit for Family Members – € 5,147
– Renewal of Residency Permit for Family Members – € 2,573.90

Portuguese Golden Residency Permit – Portugal Property recommended legal services:
All in one package of legal services with full support to the foreign investor covering the property acquisition and the application for investor residency permit.

Full legal due diligence on property.
Preparation and assistance on property acquisition, including client representation. Receipt and holding of funds in a Lawyers client/escrow account (if required).
Property registration procedures and document services.

Application for Golden Residency Permit:
Preparation and submission of initial application and required documentation Representation before the Portuguese Authorities.
Accompanying client to the Portuguese Authorities (when required).
Full assistance with renewals.

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