Residence Permit in Portugal

About Portugal:

• A new law adopted by Portugal’s government has introduced the new program Portugal Golden Visa, which allows citizens of third countries to receive a residence permit in Portugal by investing in real estate for a minimum period of 5 years.
• Unlike other such possibilities in Europe, Portugal is offering investors the ability to not only receive temporary residency, but by fulfilling the conditions of maintaining the investment and staying a minimum period of time in the country, investors can also claim permanent residency and EU citizenship.

Benefits:

• Visa-free travel or living in European countries-You and your family will not only have the right to live in Portugal year-round, you will also be able to travel throughout the Schengen-zone.
• Temporary residency for the whole family – Through a single investment package, residency in Portugal is available also to your spouse, children under 18, and dependent adult children enrolled in higher education.
• You only need to stay in Portugal for 7 days in a year – To keep your status as a resident, you only need to stay in Portugal for 7 days in a year, which can easily be done over a vacation or business trip.
• Ability to receive permanent residency and citizenship – Maintaining your investment and meeting the rules on minimum stay in the country will allow you to eventually receive permanent residency and Portuguese citizenship (to receive citizenship you must pass a language test).
• Citizenship of Portugal can be claimed by applicants who, over the last 6 years, have lived in Portugal for over 183 days per year and are able to pass a language test.

How to be Considered:

• Purchase real estate at a cost of at least €280,000 which was built over 30 years ago and is located outside of the major cities.
• Purchase real estate at a cost of €350,000 which was built over 30 years ago
• Purchase real estate at a cost of at least €400,000 outside the major cities
• Purchase real estate at a cost of at least €500,000
• All candidates must lack a criminal record, they cannot have violated Schengen visa or customs rules, they must not be barred from entry into the EU, and they must not be subject to an inquiry in the SEF integrated information system.
• Residency through the Portugal Golden Visa program is valid for a period of 5 years. However, it must be extended after the first year for another two years, and then for another two years. You must observe certain minimum conditions for being present in the country: no fewer than 7 days in the first year, and no fewer than 14 days in each of the following 2-year cycles.

Who receives Residency?

• the main investor
• his/her spouse, children under the age of 18
• dependent children over the age of 18 who are students

Real Estate Investment Condition precedent:

• Calculation is based on the total value of your real estate – The investment object can even be several pieces of real estate bought together, provided that the total estimated value exceeds 500,000 euro. The real estate can be either residential or commercial.
• You can pay for the real estate after receiving temporary residency –When submitting an application for temporary residency, you are allowed to use a promissory contract with a deposit in an amount of at least 500,000 euro. The property rights should be drawn up before the first extension of your temporary residency, one year after you obtain residency.
• You can rent out the property you purchase – In order to extend your temporary residency, you do not need to reside in Portugal. This allows you to rent out the property that you have purchased and gain additional income.

Required Documents:

• Proof of ownership of the piece of real estate, issued by the Land Registry Office
• Declaration that you are not in arrears to the state customs and taxation authority or the social insurance fund
• Passport
• Proof of address of permanent residency in your country of citizenship
• Attestation that you have no criminal record in your country of citizenship, as well as in any countries you have lived in for at least one year in the last 5 years
• Proof of medical insurance
• A signed form allowing SEF to carry out a background check in the Portuguese criminal record registry

For family members’ applications:

• A passport for all members of the family
• Marriage certificate and children’s birth certificates
• Proof that the family has living accommodation in Portugal
• Proof of income of at least 12,000 euro a year for each adult and 6,000 euro a year for each child
• A signed declaration of good intentions by the applicant that he/she will keep the investment for at least 5 years.

For a Free Consultation on Migrating to Portugal Contact us, and an Immigration Consultant will be assigned to speak with you right away.