21/11/2013
The so-called Golden Residence Visa is attracting investment to Portugal …
If you are interested in a golden investment opportunity read oou general information regarding the Golden Residence Permit for Investment Activity
As published and advertised by the Portuguese government, a special legal regime has been created, designated “ARI – Golden Residence Permit for Investment Activity”.
As you are probably already aware, this is a status applied to non-Europeans and opens the possibility of applying for a residence permit when pursuing investment activities by transferring capital (minimum €1,000,000.00), creating at least 30 jobs or acquiring real estate to a minimum value of €500,000.00.
Those who hold the Golden Residence Permit also have the right to regroup the family, as well as to gain access to a permanent residence permit (following five years of Golden Residence) and Portuguese nationality in accordance with the applicable legal provisions.
In order to apply for the Golden Residence Permit for Investment Activity, all the following conditions must be met:
a) Fulfil all the general conditions as set out in Article 77 of Law nº 23/2007, with attention to the updating of the aforementioned Law by way of Law nº 29/2012 of August 9th;
b) Hold a valid Schengen visa;
c) Legalize residence in Portugal within 90 days of first entry into national territory;
d) Prove one of the above mentioned investment conditions (i.e. minimum €1,000,000.00 investment in shares or direct business, the creation of at least 30 jobs or the acquisition of real estate to a minimum value of €500,000.00).
Furthermore, the following conditions must also be satisfied in order to apply:
• No criminal convictions in Portugal punishable with imprisonment for a period of more that one year;
• No restrictions with regard to entry into Portugal, and
• No mention on the Schengen Information System.
Following the first year of Golden Residence, the permit can be renewed for two periods of two years each, provided that the conditions are still being met.
The beneficiary of the Golden Residence Permit is required to stay in Portugal for at least 30 days in the first year and for 60 days during each of the subsequent renewal periods of two years.
An application for the Golden Residence Permit can be made either directly, or by way of your legal representative, and submitted online, despite the fact that at a later date it will be necessary to sign in person and present personal documents.
In order to complete the application the following documents will need to be submitted:
• Passport or other valid travel document
• Proof of entry and legal permanence in Portugal
• Proof of internationally recognised health insurance
• Application for consultation of Portuguese Criminal Record by the SEF
• Criminal Record Certificate from country of origin or the country where the applicant has been resident for more than one year
• Affidavit attesting to investment activity for a period of at least five years
• In the case of capital transfer to the value of €1.000.000,00 or more, it must be demonstrated that the investment was made after 8th October 2012
