Golden Visa Scheme In Portugal
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PORTUGAL<br />
A GUIDE TO THE GOLDEN VISA SCHEME<br />
www.propertyspecialistsalgarve.com - +351 912 488 155 - info@propertyspecialistsalgarve.com
What is a <strong>Golden</strong> <strong>Visa</strong>?<br />
The <strong>Golden</strong> <strong>Visa</strong> <strong>Scheme</strong> is a residency program aimed at attracting foreign investment to <strong>Portugal</strong>. It is a fast-track<br />
method for non-EU members and their family members the chance to obtain Residency Permits in <strong>Portugal</strong>, with no<br />
direct tax implications/obligations for income generated outside <strong>Portugal</strong>.<br />
Established in 2012, <strong>Portugal</strong>’s <strong>Golden</strong> Residence Permit Program (ARI) enables non-EU/EEA citizens to obtain a special<br />
residence permit in exchange for a 5-year investment in <strong>Portugal</strong>. The investor need only spend 1 or 2 weeks per year in<br />
<strong>Portugal</strong> to maintain their residency and enjoy the benefits of being an EU resident, such as visa-free travel throughout<br />
the Schengen area.<br />
How to qualify for a <strong>Golden</strong> <strong>Visa</strong> in <strong>Portugal</strong>?<br />
The <strong>Golden</strong> <strong>Visa</strong> is only available for non-EU citizens.<br />
There are three different ways to qualify for a <strong>Golden</strong> <strong>Visa</strong>. You can:<br />
1. <strong>In</strong>vest in a property<br />
When you invest at least €500.000 in property (residential, commercial, land, etc), you can apply immediately for the<br />
<strong>Golden</strong> <strong>Visa</strong>. This does not need to be one property; it can be spread over several properties and also includes coownership<br />
of properties.<br />
When you invest at least €350.000 in a property (residential or commercial) that was built more than 30 years ago or<br />
property located in an area of low population density.<br />
There is a 20% reduction for investments in low density population/low income areas.<br />
The price for the renovations can be included in this amount. The application for the <strong>Golden</strong> <strong>Visa</strong> can before the<br />
renovations renovation works are finished but it is mandatory to provide the building contract the proves of payment of<br />
the first invoices and proof of application of a building license to the local city hall.<br />
2. <strong>In</strong>vest in Capital<br />
Capital investment in companies of at least €1.000.000.<br />
Capital investment of at least €500.000 for acquisition of participation units in investment funds/capital investment<br />
companies, for capitalization of small and medium size companies.<br />
Capital investment of at least €350.000 for research activities carried out by the national scientific and technological<br />
system.<br />
Capital investment of at least €250.000 for support of artistic production/recovery/maintenance of national cultural<br />
heritage.<br />
3. Create Jobs<br />
Create a minimum of 10 jobs.<br />
www.propertyspecialistsalgarve.com - +351 912 488 155 - info@propertyspecialistsalgarve.com
What are the advantages of the <strong>Golden</strong> <strong>Visa</strong> via Property <strong>In</strong>vestment?<br />
Choosing Property <strong>In</strong>vestment to qualify for a <strong>Golden</strong> <strong>Visa</strong> is simple and offers:<br />
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Fast track to residency for foreign investors and their families<br />
Very low minimum stay requirements: 7 days + 14 days + 14 days<br />
One investment qualifies investor and family<br />
Residency: 1 year + 2 years + 2 years<br />
Possibility of Permanent Residency and/or Nationality after just 5 years<br />
Freedom to travel without a visa throughout the countries of the entire Schengen area<br />
No direct tax implications/obligations for income generated outside <strong>Portugal</strong><br />
<strong>In</strong>vestments maintained for a minimum of 5 years<br />
How to find the right investment for a <strong>Golden</strong> <strong>Visa</strong>?<br />
At Property Specialists Algarve we specialize in properties and are therefore able to help you apply for a <strong>Golden</strong> <strong>Visa</strong><br />
under No.1 - Property investment. With our almost 20 years of experience in the area, we are able to advise you to the<br />
perfect property for you. You can save time and effort as it is not necessary to look through the website endlessly to<br />
view pictures online: We take you on a journey along the finest properties to find the perfect fit. When we have found<br />
your property investment, you will go through the regular property buying process before applying for the <strong>Golden</strong> <strong>Visa</strong>.<br />
The <strong>Golden</strong> <strong>Visa</strong> application process in <strong>Portugal</strong><br />
During the property search, we will introduce you to a lawyer to whom you can ask more in-depth questions about your<br />
personal <strong>Golden</strong> <strong>Visa</strong> application. With your lawyer, you set up a Portuguese bank account and get a tax number to start<br />
the application process once the property is purchased. For more information about the property buying process, please<br />
click here.<br />
www.propertyspecialistsalgarve.com - +351 912 488 155 - info@propertyspecialistsalgarve.com
The application takes place through your lawyer and can take up to 6 months for approval. If you want to apply for your<br />
family members as well, this application is done simultaneously. A processing fee is paid of €527.60 for the first<br />
applicant (investor) and €82.30 for other family members.<br />
When your application is approved you pay an approval fee of € 5.274,40 per applicant. After more or less fifteen days,<br />
you receive your residency card valid for 1 year.<br />
Year 1<br />
Your application has been approved and you now have a residency card valid for 1 year with which you can travel freely<br />
within the Schengen Area. <strong>In</strong> this first year, you must spend at least 7 days in <strong>Portugal</strong>.<br />
At the end of this first year, you have a renewal process for your next residency card. You can apply for your new<br />
residency card 30 days before the year 1 card expires.<br />
For the renewal process you have to retake biometrics (fingerprints etc), provide up-to-date criminal records and pay a<br />
fee of € 2.637,20 per applicant.<br />
Additionally, it must also be paid a processing fee of €527.60 for the first applicant (investor) and a fee of € 82.30 for<br />
other family members.<br />
Year 2 & 3<br />
You now have a new residency card, valid for two years. Within these two years, you need to be in <strong>Portugal</strong> at least 14<br />
days (consecutive or non-consecutive). At the end of this two-year period, another renewal process takes place.<br />
2nd renewal process: For this renewal process you have to retake biometrics (fingerprints etc), provide up-to-date<br />
criminal records and pay a fee of € 2.637,20 per applicant.<br />
Additionally, it must also be paid a processing fee of €527.60 for the first applicant (investor) and a fee of € 82.30 for<br />
other family members.<br />
Year 4 & 5<br />
You now have another residency card, valid again for two years. You need to be in <strong>Portugal</strong> again for 14 days,<br />
consecutive or non-consecutive. At the end of this period, the last renewal process takes place.<br />
3rd renewal process: For this final renewal process you have to retake biometrics (fingerprints etc), provide up-to-date<br />
criminal records and pay a fee of € 2.637,20 per applicant.<br />
Additionally, it must also be paid a processing fee of €527.60 for the first applicant (investor) and a fee of € 82.30 for<br />
other family members.<br />
After the last renewal process, you can renew your <strong>Golden</strong> <strong>Visa</strong> or apply for Permanent Residency. For the application of<br />
Permanent Residency the applicant shall make a Portuguese test – European reference level A2.<br />
Year 6<br />
You now have either a renewed <strong>Golden</strong> <strong>Visa</strong> or Permanent Residency. At the end of this year, you can apply for<br />
Citizenship. For the application of Citizenship the applicant shall also make a Portuguese test.<br />
www.propertyspecialistsalgarve.com - +351 912 488 155 - info@propertyspecialistsalgarve.com
The <strong>Golden</strong> <strong>Visa</strong> application costs in <strong>Portugal</strong><br />
For more information about the buying costs of the property itself, please click here.<br />
Which documents do you need for a <strong>Golden</strong> <strong>Visa</strong> in <strong>Portugal</strong>?<br />
The documents you need to apply for a <strong>Golden</strong> <strong>Visa</strong> in <strong>Portugal</strong> are the following:<br />
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A Valid Passport<br />
A Schengen <strong>Visa</strong> (with which you entered <strong>Portugal</strong>), if applicable<br />
Declaration from a bank in <strong>Portugal</strong> confirming the transfer of the funds<br />
Proof of investment<br />
Medical insurance valid in <strong>Portugal</strong> for all members applying<br />
Absence of criminal conviction in <strong>Portugal</strong> and of interdiction<br />
Absence of notice from Portuguese Immigration Authorities or Schengen Services<br />
Proof of ongoing education for children of 6 years of age and older (including children over 18 years of age that<br />
are included in the application). Proof can be a student card or confirmation of enrollment*<br />
Proof of financial support to the family members<br />
www.propertyspecialistsalgarve.com - +351 912 488 155 - info@propertyspecialistsalgarve.com
The following paperwork needs to be legalized (at a Portuguese consulate/Embassy of your country or with an Apostille<br />
for the Countries that are part of the Hague Convention) and translated into Portuguese (at consular services):<br />
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Criminal certificate from country of origin** (or police clearance certificate) of you, your spouse and your<br />
children over 16 years of age*<br />
Marriage certificate<br />
Birth Certificate of the children*<br />
* only applicable for members who are applying for residency visas in their name<br />
** Please note that criminal records are usually only valid for 3 months since date of issue<br />
For help with the <strong>Golden</strong> <strong>Visa</strong> process please contact us any time for free expert advice and specialist information.<br />
Contact us<br />
Telephone: +351 912 488 155 | +351 913 340 733<br />
Email: info@propertyspecialistsalgarve.com<br />
Website: http://www.propertyspecialistsalgarve.com<br />
Facebook: facebook.com/propertyspecialistsalgarve<br />
Linked<strong>In</strong>: property-specialists-algarve<br />
<strong>In</strong>stagram: propertyspecialistsalgarve<br />
Twitter: @ps_algarve<br />
www.propertyspecialistsalgarve.com - +351 912 488 155 - info@propertyspecialistsalgarve.com
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