Portuguese Golden Visa Resident Permit
In the sequence of the publication of the Law number 29/2012, of 9 August and the Order number 11820-A/2012, Portugal established the legal framework for the Portuguese Golden Visa Residence Permit through investment in Portugal. This Golden Visa Residence Permit may be granted to foreign non EU Citizens with family reunification, by doing one of the following investments in the country, for a minimum period of 5 years:
a) Transfer of capital in an amount equal to or greater than €1.000.000 (one million Euros);
b) Creationofat least 10 jobs;
c) Acquisition of property in an amountequal or greaterthan€500.000 (five hundred thousandEuros).
There are two main advantages on the Portuguese Golden Visa Residence Permit:
1. The possibility of obtaining Portuguese Permanent Residency after five years of Temporary Residence Permit;
2. And the possibility of obtaining Portuguese Nationality aftersix years of Temporary Residence Permit and therefore, be the bearer of an European passport, with all the respective advantages – travel, work and study without borders .
The general requirements of Portuguese Golden Visa Residence Permit are:
- Presence in Portugal;
- Non existing of any fact that would be an obstacle for the granting of a visa;
- Valid Passport;
- Valid Schengen Visa;
- Legalization of a stay in Portugal within ninety (90) days of the first entrance into national territory. Applicant(s) must hold a Schengen Visa, when applicable, and legalize their entry with SEF (Immigration and Borders Service) within 90 days from the date of their first entry in Portugal;
- Proof of means of subsistence and accommodation – Usually a Bank proof that there is deposited money enough for one year’s living expenses, or proof of other origin of income, like salary, or property rental income. The calculation is one minimum wage for the investor, half of it for the spouse and 30% for each minor. The Portuguese minimum wage is around €500 per month. So, for a family of 3, proof of minimum income of 11,000 euros per year is enough;
- Proof of health insurance – issued in Portugal. The cost depends on the health coverage chosen by the investor;
- Request for consultation of criminal record at “SEF”;
- Sworn statement signed by the applicant that he/she will comply with all investment requirements;
- No debt certificate issued by Portuguese Social security and Tax Authorities;
- Criminal record certificate of the country of origin and of the country where the applicant has resided for more than one year;
- Proof of one of the three types of investment.
All foreigndocuments must be translated to Portuguese and certified at a Portuguese Consulate in thecountry ofapplicant’s origin.
DCS- Sociedade de Advogados RL offers the following services:
A. Property Purchasing / Investment in assets:
– Due diligence in theinvestment process, including assisting negotiations , analysis ofall therequired sellers and property documentation and accessing thepublic departments for verification, namely Land Registry, Commercial Registry, Tax Office and Local MunicipalityCouncil.
– Obtaining Portuguese FiscalNumber forthe Investor at the local Tax Office
– Fiscal representation service.
– Assisting at theBank accountopening.
– Power ofattorney draft and authentication at the moment ofthe signature.
– Promissory purchase and sale agreement draft and signaturesrecognition.
– Declarations for the Tax Office regarding the IMT and the Stamp tax.
– Final purchase and sale deed draftand authentication.
– Registrationthepromissory purchase and sale agreement and/or the final deed attheLand Registry.
– Registrationofthe final deed atthe Tax Office.
– Portuguese Company constitutiondeed and registration at theCommercial Registry.
B. Five Year Golden Visa Application:
– Preparation and submission ofthe Portuguese Golden Visa Residence Permit Application.
– Preparation and submission ofthe Portuguese Golden Visa Residence Permit Application for family reunification.
– Representation services atthe Portuguese immigrationand BordersAuthorities
– Preparation and submission ofRenewals ofthe Portuguese Golden Visa Residence Permits for investor and family.
C. Other:
– Drafting and recognitionofsignaturesofall agreementsregarding theproperties management, namely rental agreements.
– Representation services in all or some oftheactsand procedures regarding theinvestment.
– Presence of an Official translatorofthe Portuguese documentsor acts,when required.