RESIDENCY BY INVESTMENT PROGRAM
The Portugal residency by investment program’s legal framework was first introduced by amending Act number 23/2007 of July 4, 2012, which is known as the “Golden Visa”. On the 8th October 2012, the Government of Portugal made changes to the Immigration Law 29/2012 allowing non-EU Citizens to receive a temporary EU Residence Permit for up to 5 years in exchange for investments in Portugal’s Real Estate. The new regulations offer non-EU Citizens, a simple and fast way for property investors to receive a five-year Residence Permit.
- Processing Time: 6 months
- Citizenship Timeline: 5 years
Visa free travel: Visa-free to 29 Schengen countries
Investment type: Real Estate
Investment cost: EUR 500,000
Family Dependents: Spouse and children below 18. Adult children above 18, and parents of main applicant qualify as long as they prove financial dependency
Passport Validity: 2 years for children up to the age of 4; 5 years for all other citizens
RESIDENCE LAW: In accordance with Portuguese Nationality Law 37/81 of the 3rd October 2006, amended by Decree Law No. 322-A/2001 of 14th December, article 6, the Government grants the Portuguese nationality through naturalization to foreigners who fulfill the requirement to be legally resident in Portuguese territory for at least 5 years.
- SIMPLE PROCESS
European residence in 6 months Minimal physical residency requirements, you are required to visit Portugal for 7 days per year. No interview, language test, education or management experience required adult children above 18 years of age qualify if they prove financial dependency The Portuguese PR extends to Spouse and children below 18 years of age Parents of main applicant also qualify if they prove financial dependency Open to all non-EU nationalities
- GLOBAL MOBILITY
Portugal visa grant you free travel to 29 Schengen countries in Europe Right to apply for Portugal citizenship after 5 years If Citizenship obtained in the future, dual nationality allowed
- WEALTH PROTECTION
Only those staying in Portugal longer than six months a year and deemed resident in Portugal must pay tax over income obtained in Portugal, meaning the Portuguese tax authorities will expect Golden Visa holders to only pay taxes on income related to activities in Portugal and not any other primary country of residence
To be eligible for Portugal golden visa under its residency by investment programme, the applicant is required to do a Real Estate Investment and a non-refundable contribution to the Government.
REAL ESTATE INVESTMENT
Real Estate Investment through one of the Government approved real estate asset classes: freehold property with title deed; hotel shares; fractional ownership or land. The investment and Government Fees are payable once the citizenship is approved. The non-refundable financial contribution varies depending on the number of applicants as follows:
- Acquisition of Property EUR 500,000
- Acquisition of Property Subject to a 20% reduction if property is in a designated low-density population. EUR 400,000
- Acquisition of Property More than 30 years old subject to approved renovation works EUR 350,000
- Acquisition of Property More than 30 years old subject to approved renovation works & in a designated low-density population area. EUR 280,000
- Initial Investor Residency Permit EUR 5,150
In addition to the purchase of real estate, there are Government fees to be paid.
- Main applicant EUR 550
- Each dependent either spouse, children or elderly parents EUR 80
- Initial Residency Permit per family member EUR 5,150
Citizenship Invest professional fees, official application forms, certification of citizenship and passport, courier & other disbursements are the only other costs associated. A detailed quotation with no hidden costs is provided for the specific case.
Citizenship Invest appoints a Document Collection Specialist for each case. The firm offers a bespoke service that simplifies the application process, requesting from clients the bear minimum. Our job is to simplify the document collection as much as possible and when required we obtain the documents for the client without their involvement. Please note the below list is to be used as a guideline only, after assessing the particular case Citizenship Invest prepares a personalized checklist.
Documents required from each applicant including children:
- Certified copy of valid passports
- Schengen Visa
- Three (3) Original passport-size photos
- Original excerpt of Birth record or certified copy of Birth certificates with Official Portuguese or English translation and legalized/ Apostilled by the Portuguese Consulate in Country of issuance
- Criminal Record for all adults for both Country of Birth & Country of Residence (If different) (Applicants above 16) with Official Portuguese or English translation and legalized / Apostilled by the Portuguese Consulate in Country of issuance
- Flight Ticket Reservation to visit Portugal (issuance not necessary)
- Proof of accommodation from a hotel or invitation letter from a relative or friend in order to prove the destination and the purpose of the trip
Documents required only if married persons apply together:
- Original excerpt of marriage record or certified copy of marriage certificates with Official Portuguese or English translation and legalized/ Apostilled by the Portuguese Consulate in Country of issuance
- Certified copy of divorce certificate with Official Portuguese or English translation and legalized/ Apostilled by the Portuguese Consulate in Country of issuance (if applicable).
- CI Retainer Agreement signed and first Payment of CI Professional Fees.
- The Client could select the Portuguese property remotely and CI starts preparing the property purchase documentation required to be presented for Residency application.
- The Client must travel to Portugal to get the passport stamped before submitting the Residency application. If the client does not have Schengen Visa, then a Portuguese Tourist Visa must be applied for at the Portuguese Consulate in the client’s country of origin / residence.
- The Client & all applicants travel to Portugal on Schengen / Tourist Visa, to obtain passport stamp & visit Immigration Department. Client can see the property, alternatively, can directly transfer the capital to his new Portuguese bank account opened by CI.
- Property Purchase executed by CI Lawyers. Residence Permit documentation is submitted to the Government including the property Title Deed. At this point, Government Processing Application Fees are payable.
- The client pays the Submission invoice of CI Professional Fees.
- Upon Approval, a meeting with the authorities is scheduled. At this point, Government Residency Permit Fees are payable.
- CI final Professional Fees are paid
- Clients can travel to Portugal to collect the Residency Permit, alternatively, CI lawyers can collect on client’s behalf. Residence Permit is issued within 45 days.
The estimated time to receive citizenship approval depends on the due diligence processing time and the specific case