The Portuguese Government wants to increase foreign investment in low-density regions. Until now most Golden Visa investment has been focussed on Lisbon, Porto and coastal regions such as the Algarve. However, from July 2021 investment in coastal locations including Lisbon and Porto will no longer qualify.
The official legislation is yet to be published but we expect more details to be released in the coming months.
The Golden Visa programme, launched by the Portuguese Government, is a fast track for investors to obtain a valid residency permit in Portugal through investment. The scheme provides the option to acquire Portuguese nationality and, therefore, an EU Passport, in six years.
It is designed for non-European Union citizens undertaking an investment activity either as individuals or through a company established in Portugal. Once issued, the Golden Visa will be valid for an initial period of one year and then will be renewed for subsequent periods of two years.
Individuals can currently apply for a Residence Permit for Investment by fulfilling one of the following criteria:
• Capital transfer to Portugal of a minimum €1 million
• The creation of a minimum of 10 jobs
• The purchase of real estate property with a minimum value of €500,000
• The purchase of real estate property, built at least 30 years ago or located in an urban regeneration area, for refurbishment purposes, with a minimum value of €350,000
• Investment of a minimum €350,000 in research undertaken by public or private scientific research institutions involved in national scientific or technological research
• Investment of a minimum €250,000 in artistic creation or supporting the arts, reconstructing or maintaining the national heritage and culture
• Investment of a minimum €500,000 in shares placed in investment funds or in venture capital, geared to capitalise small and medium companies in Portugal which must have a viable capitalisation plan in place.
• €350,000 investment in the incorporation of a new Portuguese company, creating a minimum of five permanent jobs
• €350,000 additional share capital investment in an existing Portuguese company, creating a minimum of five permanent jobs
• €200,000 investment in a Portuguese company, with an economic recovery plan in place
• €350,000 investment in funds to provide additional capital to a Portuguese company with an economic recovery plan in progress.
Advantages of the Portuguese Golden Visa include:
• Straightforward and flexible investment requirements
• Extremely low minimum stay requirements
• Fully extensible to family members (with no further investment requirements)
• Freedom to travel to all European countries who are members of the Schengen area
• Possibility of permanent residency after five years and nationality after six years
• No limitations on ownership of the selected investment
• No limitation on subsequent investments or employment opportunities
• Very limited number of documents required
• Residency applications quickly processed
• No need to obtain a visa to enter Portugal
• Living and working in Portugal, even with residency in a different country
• Residency extended to family members
• Permanent residency after five years
• Citizenship after six years
• Access to all Portuguese public services, including health and education.
The ILS World Portugal offices has been helping international families and business for more than 20 years. We have a great deal of experience and have had much success in assisting people to acquire visas. For further information please contact Paulo Réfega at Paulo.firstname.lastname@example.org
Please note: ILS World does not offer tax advice. If you are not professionally qualified to give tax advice we will be happy to make an appropriate introduction.