Portugal Golden Visa
The Golden Visa (usually called the Golden Visa), has the technical name of Residence by Investment Activity (ARI), and is a regime that allows foreign citizens to obtain a temporary residence permit for investment activity.
In practice, investors who hold a Golden Visa and regularly visit Portugal are exempted from presenting a residence visa to enter our country.
One of the ways to obtain a Golden Visa, and the one that I am interested in describing, is through the acquisition of real estate with a value equal to or greater than 500 thousand euros .
Applications are assessed by the SEF-Foreigners and Borders Service, with a maximum period of 90 days for the granting of a residence permit and 60 days for renewals. If these deadlines are exceeded without any decision, there will be an automatic approval.
All citizens from third States - not belonging to the European Union (EU) and the European Economic Area - who carry out an investment activity, personally or through a company with headquarters in Portugal or in another EU state and with a permanent establishment in Portugal and whose contributory situation is regularized.
If the Investor has older children and intends to integrate them into the program, he can do so, provided he proves that the children are single and are studying under his economic dependence.
- The properties can be acquired on a co-ownership basis, provided that each co-owner invests a value equal to or greater than 500 thousand euros, or through a promissory purchase and sale contract, with a sign equal to or greater than 500 thousand euros, which must be presented before the request ARI renewal the respective acquisition title.
- They can be encumbered (mortgage, for example) from more than 500 thousand euros;
- Acquisition of a property built at least 30 years ago, or located in an urban rehabilitation area, and rehabilitation works worth more than 350,000 euros;
- They can be rented or operated for commercial, agricultural or tourist purposes.
- Absence of conviction for a crime that in Portugal is punishable by deprivation of liberty for more than one year
- Not to be prohibited from entering national territory, following a measure of removal from the country
- Absence of indication in the Schengen Information System
- Absence of indication in the SEF Integrated System for the purposes of refusing admission
Necessary documents
- Have a valid passport;
- Hold a Schengen visa (if applicable) andregularize the situation with the SEF (Foreigners and Borders Service) within 90 days from the date of first entry into Portugal;
- Have a criminal record of the country of origin or the country where you have lived for more than one year;
- Have a statement authorizing consultation of the Portuguese criminal record;
- Have an updated negative debt statement issued by the Tax and Customs Authority and social security;
- To declare, under an honorable pledge, that it will comply with the requirements of the investment activity in national territory;
- Have proof of health insurance;
- Have proof of payment of the ARI application analysis fee (513.75 euros) ;
- Acquisition or purchase promise title for properties showing the declaration of a financial institution authorized to carry out its activity in the national territory, attesting the effective transfer of capital for its acquisition or for effecting the purchase promise sign in the same amount or more than 500 thousandeuros;
- Updated certificate from the land registry office, which must always include, in the case of a promissory contract and whenever legally feasible, the respective registration.
Foreign citizens, holders of a Golden Visa, benefit from special conditions, namely:
- Enter Portugal without having to present the usual residence visa;
- Live and work in Portugal, being able to maintain another residence in another country;
- Golden Visa holders are entitled to family reunification;
- Free movement in the Schengen area, without the need to present a visa;
- Access to a permanent residence permit (after 5 years);
- Access to Portuguese nationality (after 6 years).
- A minimum period of 5 years to maintain ownership of the property (s), starting from the date of issuance of the Golden Visa, requiring a Declaration on Commitment to Honor;
- The minimum stay periods, whether consecutive or interpolated, are:
- 7 days in the 1st year;
- 14 days in subsequent two-year periods.