Portugal Residence By Investment
Updated: January 2022.
Portugal Golden Visa Program (Portuguese Permanent Residency Permit with Investment) was introduced in 2012 by the Portuguese Government to enable non-EU citizens obtain a permanent resident status with investment in Portugal as well as visa-free movement within EU Schengen area comprising 26 states.
Portuguese Golden Visa Program grants the right to permanent residence within 6 months after the investment in Portugal, as well as the right to acquire Portuguese (EU) Citizenship at the end of the 5th year. Therefore, it is one of the most attractive and preferred residency permit by investment programs. In addition, the Portuguese Passport ranks at the top of the world's strongest passports index and it is the 4th strongest passport as of 2021.
Investors (Main Applicants) finalizing an investment in Portugal are eligible to include their spouses, and children up to the age of 18/or over the age of 18 who are unmarried and enrolled in full-time education. In addition, Parents over the age of 65 could also be included Portuguese Golden Visa application.
The Portuguese Residency Permit by Investment Program grants right to live and work in Portugal, as well as visa free travel access to all EU (Schengen) countries.
Investors can apply for and obtain Portuguese Citizenship after completion of 5 years. In order to apply for citizenship; investors are just required to stay 7 days in the first year and for at least 14 days for each following year in Portugal which puts Portuguese program ahead of other EU-residency programs.
Investors intending to acquire Portuguese citizenships must also take a language test that demonstrates their basic knowledge of the Portuguese language.
Updated Rules for Portuguese Golden Visa Program:
According to the updated investment and application rules, as of 01st January 2022; Investors can proceed with below investment options to apply for Portuguese Golden Visa:
1) Property Investment:
Property Investment remains as the most preferred option for Portuguese Golden Visa Application. The investment amount differs according to the type and location of the property. It is possible to apply for a Portuguese Golden Visa with a minimum real estate investment of €280,000.
Portuguese Authorities announced that they will update the residency-by-investment program to attract more international investors towards low residency regions, reduce inflation and to expand urbanization to other regions in Portugal else than Lisbon and Porto. This decision was confirmed by the Council of Ministers, who reached an agreement to apply new changes to such a program following the new legislative authorization granted by the State Budget Law of 2020.
Current rules require that:
- €500.000 investment in a new real estate in metropolitan cities.
- €400,000 investment in a new real estate in low-density areas outside Lisbon-Porto or
- €350,000 investment in a real estate in urban rehabilitation area in metropolitan cities or in a real estate with the construction age of +30 years.
- €280.000 investment in a real estate in the process of urban rehabilitation are in low-density areas outside Lisbon-Porto or in a real estate with the construction age of +30 years.
According to the new regulations that would enter into force as of 01st January 2022; The specified investment amounts will remain the same. However; in metropolitan cities such as Lisbon, Porto, and Algarve, it will not be allowed to acquire real estate for residential purposes. In this context, the opportunity to apply for the Golden Visa will continue by investing only in commercial real estates such as work places, offices, shops, and hotels within the specified amounts.
Soner Alemdar is a leading international immigration law firm. Please contact us to have further detailed info in relation to updated rules on property investment and eligible real estate options for Portuguese golden visa application if you consider proceeding with a real estate investment.
2) Fund Investment:
Fund Investment has recently become increasing popular to apply for Portuguese Golden Visa among international investors.
The fund market is highly regulated, and the whole process is examined by the fund manager, the Depositary Bank, and the Portuguese Securities Market Commission (CMVM). This advantage makes fund investment a safe option for international investors.
Within the current context, it is required to invest of €350,000 in one of the Golden Visa Funds approved by the Portuguese Securities Market Commission «CMVM» in order to be eligible for Golden Visa Application. However, as of 01st January 2022; the minimum investment for Fund will be increased to €500.000.
The investment fund option has increased in popularity since the pandemic has made traveling abroad more difficult.
You can contact us for current rules and Fund Options Approved by CMVM.
As Soner Alemdar, we work closely with Portuguese government approved and regulated Venture Capital and Real Estate Funds offering main capital protection guarantee or high returns as well as possibility to invest in a residential or commercial real estate and also providing an opportunity to exit from the fund with a real estate ownership as well.
3) Capital Investment
The minimum capital investment amount is €1 million as per the current rules.
The applicants who would like to apply for a Golden Visa with the creation of employment are required to transfer of the amount of €350.000, or higher, for the establishment of a Company with head office in the national territory, combined with the creation of five permanent working jobs. There is no such minimum investment amount regarding the ten job creation option.
However; according to the regulations that will enter into force as of 01 January 2022;
- Minimum investment for capital transfer will be increased from €1 million to €1.5 million.
- Minimum capital transfer amount will be €500.000 and creation of five permanent working jobs.
The Portuguese Golden Visa program is now and will continue to be a simple doorway to families looking to achieve permanent residency in Europe and to diversify their investments abroad. Portuguese Golden Visa Program will continue to maintain its leading position for a long time when it is compared with other EU countries' residency by investment programs.
Key advantages of Portugal Residency program:
- Portugal will make you feel safe and happy with your family with its mixed, warm, and tolerant culture. Besides, for Turkish Investors, Portugal is very close in terms of climate, food, culture, and its friendly and helpful people.
- The value of real estate in regions such as Lisbon, Porto and Algarve has been continuously increasing on a regular basis every year (in Euro Currency) over the last 20 years, which also included the pandemic period.
- It is possible to trade freely with all EU countries by establishing a company in Portugal.
- After obtaining a Portuguese (EU) Passport which means becoming a Portuguese Citizen, you can freely settle in any EU member country such as Germany, France, Italy, the Netherlands. Therefore, it is possible to benefit from the social opportunities provided by all EU Countries.
- Visa-free travel to Schengen Area.
- Visa holders may apply for and obtain Portuguese citizenship after 5 years of lawful residency.
- Investors are offered many different and attractive investment options such as Hotel Shares, Offices, Branded Residences and similar commercial properties and Fund Investments.
FREQUENTLY ASKED QUESTIONS IN RELATION TO PORTUGAL & PORTUGUESE GOLDEN VISA SCHEME
Which countries are the investors from most applying for the Portuguese Golden Visa Program?
Citizens of many different countries, primarily Chinese, US, Turkish, Brazilian and Russian investors, have applied to Portugal Golden Visa program with investment and obtained their residency permits in Portugal. There are also several investors who have been granted Portuguese Citizenship after the completion of 5 years.
What is the Golden Residence Permit Program for Portugal?
Golden Residence Permit Program for Portugal is a five year investment based residence process for non-EU nationals, which allows free circulation in the Schengen area of 26 states
What are the conditions of application for the Golden Residence Permit Program?
The main condition to apply for the Golden Residence Permit Program of Portugal is the proof of having a qualifying investment be it property, fund or capital investment.
In additon applicants shall submit the required documents for the application including clean criminal record.
How long does it take to obtain Portuguese Residency?
Application process for Golden Residence Permit Program takes approximately 8 months. Residency Permit would be obtained for the Investor and all Family Members within the next 6-8 months from the date of submission of the application.
The Portuguese Residency Permit shall be renewed every 2 years. Once after becoming a Permanent Residency Permit Holder at the end of the 5th Year, investors and their family members can apply for Portuguese Citizenship.
What are the advantages of this Program?
Key advantages of this residency program are;
- It requires a total of only 35 days stay in Portugal during the 5 year period.
- olders of this residence permit are entitled to enter to Portugal as well as all Schengen countries.
- Investors have a wide range of investment choices
- Holders of this residence permit are eligible to apply for citizenship after six years of residence
Why choose Portugal?
Portugal is based in the west-end of the European continent offering a very good living standard. Its one of the safest countries in the World. Together with its mixed, warm and tolerant culture, you can enjoy living a happy life with your family in Portugal and get benefits of being an EU Citizen. Thanks to its thriving economy, Portugal offers many business advantages as well.
Do I have to travel to Portugal during Residence Permit procedures?
Yes, applicants must fulfill the minimum stay requirements as seven days for the first year and 14 days for following two-year periods.
What are the visa-free travel opportunities for citizens of Portugal?
Owners of Portugal’s passport benefit from Visa Free Travel to over 185 countries, including Hong Kong, US, United Kingdom, Switzerland and EU Countries.
Is Portugal considered a tax haven for investors plan for applying to its Golden Visa Programme?
Although Portugal cannot be defined as a tax haven, there are many advantageous tax cuts and business opportunities for investors thanks to non-habitual tax residency structure of Portugal.
Is it possible for two or more different investors to get Portuguese Golden Visa depending on a single real estate?
Yes, this might be an option. Property Investment which is requested by Portugal has been specified as at least €280.000 per main applicant. Therefore each main applicant must to invest at least such a price, in order to obtain EU Residency and eventually, Portuguese Citizenship.
Is there any official law which stipulates the Portugal Golden Visa Program?
Yes. While Law No.23/2007 sets the main ground for Portuguese Citizenship matters, especially Ordinance No. 305-A / 2012 puts forward terms and conditions related to Portugal Golden Visa Program, which provides several investment options in order for investors to become Residents or Citizens of Portugal, depending on their preference.
Do you offer real estate options from Portugal?
Yes. As Soner Alemdar, we work closely with carefully selected developers in Portugal offering eligible projects and properties for Portuguese golden visa, based in different parts of the country offering high ROIs and rental incomes.
How many family members can apply for residency along with the Main Applicant?
Spouse and dependent children can also apply with the main applicant.
Is there any language requirement to apply for Portuguese Residency?
No, applicants do not have to take any language test to apply for Residency of Portugal.
Soner Alemdar is a leading international immigration law firm. We have a team of highly experienced team of Portuguese and International lawyers advising on Portuguese golden visa program.
We advise on all required steps of Portuguese Residence by investment application, and conduct and follow up all the necessary steps very diligently for all our clients and their family members’ including obtaining new tax numbers in Portugal, opening a new Portuguese bank account, obtaining and attestation procedures of required documents.
We also work together with carefully selected developers and licenced real estate advisors based in Lisbon, Porto, Algarve, and assist our Clients on identifying the right, eligible investment property for Portuguese golden visa application.
We further advise our Clients on finalizing the property investment in Portugal, or alternatively presenting of eligible, selected Portugal golden visa funds and applying to program with fund investment accordingly.
Please contact us now for further details and queries to apply for Portugal Golden Visa and to obtain Portugal Citizenship as well as request info on other citizenship and residency by investment programs.
You can schedule a video call with one of our experienced immigration lawyers, and we can provide advice according to your preferable investment and jurisdiction.
info@soneralemdarlaw.com
+90 216 455 80 98