Obtaining a Golden Visa for Portugal Through Property Purchase

Obtaining a Golden Visa for Portugal Through Property Purchases

Obtaining a Golden Visa for Portugal Through Property Purchase

Recent legislative changes are sure to attract significant attention from foreign investors interested in obtaining a golden visa for Portugal. The new regulations known as the Golden Residence Permit Programme are designed to bring greater foreign investment into the country by offering in exchange a quicker and simpler way for investors to receive temporary residency (golden visa). 


The legislation means that it is now possible for a temporary residence permit (golden visa) to be granted without the need to first obtain a full residency visa for Portugal if the foreign national, personally or though a company, makes one of the following investments:

 

1) 

The purchase of a property or properties valued at €500,000 or more. The latest legislative changes also allow:

a) The possibility of co-ownership with each co-owner making an investment of a minimum of €500,000; 

b) Promissory contracts will now be acceptable for the initial investor residency application, provided that a deposit of a minimum of €500,000 has been paid. The property purchase must then be completed before the time of the first renewal of the residency permit. 

c) The possibility of financing to purchase a property above the set €500,000 investment; 

d) Properties purchased under this scheme can be freely rented and let for commercial, agricultural and tourism purposes;

 

1)

A capital investment with a transfer of funds equal to or greater then €1,000,000. Under this option the investor must present a declaration from a Portuguese financial institution stating that the applicant is the sole or first holder of the capital or, if it is an investment made by a company an up to date commercial registration certificate declaring the holding of the stake in the company, valued at the amount of the investment required for this purpose. Funds can be invested in all types of companies.

2)

An investment that directly creates at least 10 new jobs in Portugal which must be registered for social security purposes.

Applicants wishing to obtain an investment visa for Portugal must have made one of the above investments after 8th October 2012 but prior to their application for a visa and the investment must be maintained for a minimum of five years after the residence permit is granted. 



To obtain a temporary residency visa for Portugal you must also have entered Portugal with a valid Schengen visa if necessary, comply with the general requirements for temporary residence and apply for residence within 90 days of arrival. Once the temporary residence permit is granted the investor must stay in Portugal for at least 7 days during the first year and 14 days in each subsequent period of two years. The temporary residency visa is valid for the period of one year and may be renewed for successive periods of two years. Five years after the first renewal you may apply for permanent residency, a year after permanent residency is granted you may apply for Portuguese nationality. 


Typical application costs for an investment golden visa for Portugal under the Golden Residence Permit Porgramme

 

  • Application Fee and renewals €513.75
  • Initial Golden Visa Permit €5,135.50
  • Renewal of Golden Visa Permit €2,568.75
  • Initial Golden Visa Permit for Family Members €5,135.50
  • Renewal of Golden Visa Permit for Family Members €2,568.75

 

Representation - Lawyers
We at Portugal Property Experts are happy to recommend a lawyer who will provide a full comprehensive service for any foreign investor wishing to purchase property and apply for the golden visa for Portugal.


Update: The Golden Visa and Children over 18 years of age
One of the most frequently asked questions regarding the Portuguese Golden Visa programme is whether it is possible for children over 18 to obtain residency under the family reunion status. The family reunion status defines qualifying family members as the spouse, children under 18 and other dependent relatives. Under the General Immigration Law, children over 18 will qualify if they are dependent and study in Portugal. However, the Golden Visa is a exceptional regime and the Immigration Services recognizes this and although it is necessary for any children over the age of 18yrs to be in education to qualify, they don't necessarily need to be studying in Portugal. 


We understand how important this information is for investors wishing to apply for the Golden Visa in Portugal and thought it important to clarify this point. Should you require any further help obtaining a suitable property and the Golden Visa in Portugal, don't hesitate to contact us and we'll ensure that you have access to the best properties and legal advice throughout the whole process. 
 

Consult the Experts for more information on the Golden Residence Permit Programme!


If you are interested in purchasing a property in order to obtain an investment visa for Portugal please contact us to discuss your investment. 


You may also use our specialist property finding service for tailored recommendations for properties for you

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