Portugal Golden Visa & permanent residency by investment

Government program. Investment from €350,000. Residency for the whole family

Terms and requirements to obtain Portuguese residence permit

Usually the process takes up to 6-8 months. One visit to Portugal is required. Investors must meet the following criteria:

  • Not being subject to sanctions, restrictions or bans on entry to EU countries, USA, the UK and Canada

  • No criminal record and criminal proceedings for serious crimes

  • Ability to confirm the legality of the origin of funds

  • Impeccable personal and business reputation

Who can obtain the Portuguese residency together with the main applicant?

  • A spouse

  • Children under the age of 18

  • Children, regardless of age, having a mental or physical disability

  • Main applicant's parents and / or spouse 65 years of age and older

Benefits of Portuguese residence permit

  • Visa-free entry and travel across the Schengen

  • Required period of stay in the country - 7 days during a calendar year

  • New possibilities for business development

  • All family members can get residence permit within 6-8 months with a right to employment

  • A way to obtain permanent residency and citizenship

  • Social and political security

  • Tax planning possibilities

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Portugal Golden Visa Residence Program: changes

On January 1, 2022, changes in the program for obtaining a residence permit in Portugal by investment will come into force.

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The investment amount will be increased for some of the available options, and the zones where you can buy real estate to obtain the “Golden Visa” will be finally determined.

Investors who will submit applications before 01/01/2022 will not be affected by the changes, as well as those who will renew their residence permit later.

The following changes await new investors:

  • The size of investments in securities or opening bank deposits will be increased from €1 million to €1.5 million.
  • The minimum investment in the shares of Portuguese funds will be increased from €350 000 to €500 000.
  • The amount of investment in real estate will remain the same, but the available territories will be limited. Coastal areas, Lisbon, Porto and their suburbs will be excluded. Real estate can be bought on the mainland Portugal, Madeira and the Azores.
  • The option with investments in the company with the subsequent creation of ten jobs also will change – from €350 000 to €500 000.
  • The minimum investment in scientific and research activities will increase from € 350,000 to € 500,000.

These changes will not affect commercial real estate: commercial real estate in Lisbon, Porto and their surroundings will be available to purchase. Coastal hotel projects will also qualify for the Golden Visa. The possibility of reducing investment by 20% when buying real estate in sparsely populated areas remains unchanged.

 

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Investment options to obtain residence permit

Investment in real estate

                               

500,000 for any type of property 350,000 for properties that are subject to renovation and were built over 30 years ago

Examples of calculations:
For 1 applicant - €556,000
For a family of four - €574,000

Investment in country's economy

                               

€1,000,000 – a minimum investment (from 01/01/2022 – €1,500,000)

Job creation

                               

— €350,000 – investment (from 01/01/2022 – €500,000) — creation of at least 10 jobs in Portugal

Investment in research activities

                               

€350,000 (from 01/01/2022 – €500,000)

Acquisition of shares of Portuguese funds

                               

€350,000 a minimum investment (from 01/01/2022 – €500,000)

Examples of calculations:
For 1 applicant - €392,000
For a family of four - €411,000

Stages of Portugal residency application process

The following steps are described for reference purpose only. The main thing that we want to underline is that Migronis takes care of preparation and submission of your case. You only need to provide the original documents. We will do all the paperwork ourselves.

01
CONTRACT SIGNING

Free preliminary background check (due diligence) of an applicant (1 day) and contract signing in one of our offices or remotely. At this stage, it will be sufficient to provide the passport copies of all family members who will be included in the residency application.

Result of the stage: background check report + signed contract.

02
CHOOSING AN INVESTMENT OBJECT

We cooperate with leading real estate agencies and offer our clients highly liquid objects at real market value (the value of the object is not artificially raised for the purpose of obtaining a Golden Visa).

You choose a suitable object and approve the date of its viewing.

Result of this step: an investment object chosen.

03
VISITING PORTUGAL TO SIGN A REAL ESTATE PURCHASE AND SALE CONTRACT

We receive the tax number required for the transaction and apply for a residence permit in the local tax administration. We open an account in a local bank, arrange for life insurance in the same bank or in an insurance company. Reissue all contracts for utility payments in the name of the client.

You sign the real property sale and purchase contract and make the necessary amount of investment.

At this stage you will need to issue a power of attorney in the name of the agent/intermediary.

Result of this step: Document on the ownership of the property.

04
PREPARATION OF DOCUMENTS AND FILING THE CASE TO SEF

We receive certificates of no criminal record, fill out government forms, arrange for notarization of the copies of documents, translation and apostilization of the entire package, and send it to the Portuguese Immigration Office (SEF). Submission of documents and payment of fees is carried out by a certified agent. The personal presence of the applicant is not required.

You provide original documents and sign forms and other documents that we prepare ourselves.

Result of this step: Application form to be filed to SEF

05
EXAMINATION OF THE CASE IN SEF

The Portuguese Immigration Office carries out examination within 4-7 months, and then issues a decision on the case.

We are preparing the additional documents and certificates requested in the course of examination.

Result of this step: Invitation to the SEF office for submitting biometric data.

06
OBTAINING A RESIDENCE PERMIT

After payment of the investment amount and fees, you visit Portugal to submit biometrics, pay for a residence permit and collect a plastic card as a Portuguese residency. Residence permit is valid for 1 year. To maintain the status one has to spend 7 days per year in the country. We remind about the necessity to renew the document 6 months prior its expiration.

Result of this step: Portuguese residence card obtained.

Post – immigration service

 

  • Opening an account at a local bank.

  • Registration of a company.

  • Real estate management.

  • Obtaining a driver's license in Portugal (a driver's license can be exchanged within 3 months from the date of obtaining a residence permit WITHOUT exams and additional confirmation).

  • Replacement and restoration of a residence permit within 7-14 days in case of its loss / damage / expiration.

  • Obtaining a utility bill, local phone number, as well as other documents.

The real case of obtaining Portuguese residency.

See how we work

We described the procedure for obtaining Portuguese residency in every last detail, breaking the process into steps, providing examples and photos of all documents.

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Our cases

Case: Portugal’s temporary residence in comparison with other programs and with consideration of all expenses on application processing and status renewal

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Answers to frequently asked questions and information about Portugal

Who can obtain the residence permit together with the investor?

Spouse/s (monogamous marriage);
Main applicant's and/or spouse's children under the age of 18 who are unmarried and are fully financed by the main applicant;
Main applicant's and/or spouse's children aged 18 to 26 who are not married are enrolled in full-time learning at the university and are fully financed by the main applicant;
Children, regardless of age, having physical or mental disability, who live with the main applicant and are on his full financial support;
Parents and grandparents of the main applicant and/or his spouse over 65 who are fully financed by the main applicant;
Former spouse cannot obtain citizenship;
A marriage certificate from a third country may be provided.

Can children from previous marriages get a residence permit?

Yes, if they meet program requirements.

How is the financial dependence of children and parents on the main applicant confirmed?

The documents confirming financial dependence shall be provided. For children - a certificate from the place of study. For dependent parents - a birth certificate.

Can married children and working parents be granted citizenship?

No, in this case they do not fall under the category of dependents.

For how long is a Portuguese residence permit valid?

Portuguese residence permit is issued for 1 year with its subsequent renewal for 2 years.

Is it required to visit the country to apply for residence permit?

It is not required to stay in Portugal during the process of obtaining a residence permit - applicants need to visit the country only once to submit biometrics and collect residence cards.

Is it required to reside in the country and know the language to maintain a residence permit?

In order to successfully renew the residence permit in Portugal, you will need to spend in the country 7 days per year and pay a state fee for issuance of new residence cards.

Do I need to know the language and reside in the country to obtain citizenship?

To successfully pass the Portuguese language test attending 3-month online courses will be sufficient;
The requirement to stay - you need reside in the country for 7 days per year.

Does a person become liable for military service after obtaining citizenship?

No.

Do I need to renounce my first citizenship when I receive a Portuguese passport?

No. Dual citizenship is acceptable under the Portuguese law.

Do I need to submit biometric data during application process and for renewal of a residence permit?

Yes, biometric data are required when applying for a residence permit.

Is it possible to obtain a residence permit and citizenship, if you had a conviction which is now canceled?

No, the applicants must hold a clean criminal record.

Is it possible to apply for a residence permit and citizenship if there was a refusal of a visa to Europe, America, UK?

No, to qualify for the program, an applicant shall not be subject to any restrictions or prohibitions on entry into the EU, USA, UK and Canada.

What level of language proficiency is required for citizenship?

Language proficiency requirements are loyal. To pass the language test, a certificate of completion of 3-month courses is sufficient.

What is the procedure for obtaining citizenship?

After 5 years of possession of a residence permit, permanent residence is granted, and after a year of permanent residence - a passport is granted.

Do I need to reside in the country after grant of permanent residency to be able to renew it in the future?

No, it is sufficient to spend 7 days per year in the country.

How is the application process and submission of documents carried out if our office is not available in the client's city?How is the application process and submission of documents carried out if our office is not available in the client's city?

All documents are sent by mail.

Fees for obtaining and renewal of a residence permit.

Fee for the grant of a residence permit - € 5,173.70 per each applicant;
Fee for the renewal of a residence permit - € 2,586.60 per each applicant.

Is it possible to visit Schengen countries, the USA and England with a residence permit but without a visa?

Visa-free travel to Schengen countries during the first year of residence permit;
Visa-free entry to the USA, England and Canada only with a passport.

For how long can you stay in Schengen countries with a Portuguese residence permit?

No restrictions.

Is it possible to work in the Schengen countries with a Portuguese residence permit without obtaining a work permit?

Portuguese residence permit gives the right to work in Portugal only.

Do I need a visa to visit the United States and Canada with a Portuguese passport?

No. A Portuguese passport allows you to freely enter 186 countries, including the United States, Canada and England.

Is it possible to work in the EU with a Portuguese passport without obtaining a work permit?

Yes. There is no need to obtain a work permit.

Is it required to provide any documents to confirm the origin of funds?

Confirmation of the source of funds is required - employment and/or ownership of business.

What documents are required to confirm the origin of funds?

Employment contract;
certificate of employment indicating the duration of work, position and salary / bonuses;
Copies of tax returns;
Certificate of state registration;
License;
Company registration documents;
Company's financial report of the;
If the capital is accumulated through certain transactions - the sale of property, inheritance, gift - supporting documents are needed; One or several documents may be provided (the list is agreed upon when preparing the case).

Is it possible to transfer funds from a source other than a personal account?

No. Money should be transferred from the personal account only.

Do I need to open an account in Portugal?

Yes, you need to open a bank account in Portugal, after receiving the tax number for investment purposes.

Do I need to pay global income tax when obtaining citizenship?

Portuguese citizenship program provides an opportunity to receive a special tax status, according to which an investor is exempted from global income tax for 10 years (the so-called "tax holiday").

Conditions of acquiring tax residency?

Tax resident status is assigned only to those who stay in the country for more than six months. If an investor is still interested in obtaining the status of a tax resident of Portugal, he will need to prove that he spends at least 183 days per year in a country.

What are the conditions of tax holiday?

The investor must have tax residency status (i.e., stay in Portugal for more than 183 days per year);

The investor must reside in Portugal at the time of applying for a special tax status (if he leaves the country AFTER the grant of “tax holiday”, the status is preserved).

What additional documents are may be issued?

Driver's license;
Tax number.

Is it required to visit a country during application process?

Yes, a visit is required at least to submit biometric data.

The minimum value of a property item?

€ 500,000 in any type of real estate;

€ 350,000 in property that is subject to reconstruction and was built more than 30 years ago.

Average yield from renting an item?

4-8 per cent per annum.

Portuguese Real Estate Market Review

The Portuguese real estate market is on the rise. Real estate prices have been growing proportionate to demand since 2016. According to Standard & Poor’s analysts, growth in real estate in Portugal will increase at least until 2021 in light of the upcoming British exit from the European Union (Brexit). A side effect of Brexit will be the lack of supply in the EU real estate market, which will have a favorable effect on the dynamics of the Portuguese market.

According to a S&P report, Portugal is expecting the fastest price growth among the leading EU property markets. Housing prices will rise by 8.5% in 2018 and 7% in 2019. The forecast for 2020 is also optimistic: a 6% increase in prices for Portuguese real estate . The combination of sustainable economic growth, a stable pace of development of the labor market and external demand for housing opens up attractive financial prospects for Portuguese investors.

Duration of retaining an object to maintain a residence permit?

5 years.

Is it possible to sell the object after obtaining a permanent residency or citizenship?

Yes, after 5 years real estate can be sold and status will be preserved.

Is it possible to invest in any object or is there a specific list?

There is freedom to choose objects for investment (as opposed to Caribbean programs, where you can only invest in a government-approved list of real estate items). You can buy residential and non-residential real estate, you can invest in several objects, as long as their total value matches the required investment amount.

What regions are popular in terms of buying real estate and why?

Lisbon Riviera (Cascais, Estoril) is popular after the reconstruction of urban infrastructure in 2004 after preparing for the European Football Championship;
Resort regions of the Algarve, Madeira, Alentejo are also popular due to tourism, proximity to the sea.

Can I buy several real property items when applying for a residence permit?

It is allowed to buy several real estate items if their total value total reaches the required investment amount.

What is an actual duration of residence permit application process in Portugal?

Typically, a residence permit application process in Portugal takes 6-8 months.

What happens in case of concealment of information or providing false data?

Refusal in grant of a residence permit (or deprivation of status).

What are the reasons for refusal?

- provision of false information;
- availability of a criminal record or criminal proceedings in any country of the world;
- posing a potential threat to public order, national security or the reputation of Portugal.

Portugal Passport Rating

Portuguese passport is ranked 4th (out of 100) according the rating of passports in 2018 for freedom of movement.

Country Information

Portugal's GDP in 2017 is $ 218.06 bln. (increased by 6.23% compared to $ 205.27 bn in 2016);
The population of Portugal in 2018 is 10,203,439 people;
The capital is Lisbon;
Sectors of the economy: production sector, foreign tourism (about 10 million people per year);
Portugal is ranked 29 among 190 economies in the ease of doing business (Doing Business ranking 2017).

When do customers choose a program?

When they need to get legal status in a European country, and the maintenance of which does not require residing permanently in Portugal + when they plan to apply for citizenship in future.

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