Portugal Golden Visa

The Portugal Golden Residence Permit Programme- Portuguese Residence Permit for Investment Purposes

WHY PORTUGAL

• Portugal is a member of the EU and the Schengen zone and has been using the Euro as its currency since 2002 making it an ideal platform for travel and business within the EU.
• Excellent international and Portuguese schools and universities.
• Portugal has been seen as the best place to retire in 2020 owing to its low cost of living, climate and healthcare system, according to the Annual Global Retirement Index from International Living.
• Portugal is one of the safest countries in the world according to the 2019 Global Peace Index.
• Since May 2013 Portugal has been listed as one of the top countries in the world to buy and own real estate according to the OECD.
• The 2017 Alpha Cities Report has identified Portugal as a ‘city to watch’ for its combination of affordable real estate and foreign investment programmes.

BENEFITS

• Residence Visa Waiver for entering Portugal
• Visa free travel within the Schengen area
• Applies to family members
• Allows for living, working and studying in Portugal
• Residence requirements are minimal i.e. Physical presence for 7 or more days in the first year and 14 or more days each subsequent years
• Eligibility to apply for Permanent residence subject to fulfilment of necessary requirements at law
• Eligibility to apply for Portuguese Citizenship subject to fulfilment of relative requirements at law
• Option to become a non-habitual tax resident of Portugal and benefit from a favorable tax regime.

TAX TREATMENT

• Personal progressive tax rates up to 48%
• Corporate tax rate is 21%
• VAT is 23%.
• Annual real property tax ranges from 0.3%-0.8% of taxable value of the property
• An individual, not resident in Portugal for 5 years before moving to Portugal may benefit from the Non-Habitual Resident Tax Regime for 10 years. Non-habitual residents are taxable on worldwide income but exempt from tax on certain foreign-source income. Portugal also has the concept of part-year residence. Subject to certain conditions, a favorable tax regime may also apply to individual taxpayers previously resident in Portugal for tax purposes who regain residence status between 1 January 2019 and 31 December 2020. For qualifying individuals, 50% of employment income or professional/self-employment income is excluded for a 5-year period.

ELIGIBILITY

• Third Country National
• Applicant must be fit and proper
• Clean Criminal Record. This includes absence of any conviction for a crime which in Portugal would be punishable with the deprivation of liberty for more than 1 year.
• Evidence of legal entry and legal stay in Portugal
• Not a threat to public order, public safety and public health
• Fulfilment of one of the following investment activities personally or through a company within the Portuguese territory for a minimum of 5 years:

A. PROPERTY ACQUISITION

1. Acquisition of real estate property 3 of an amount equal to or above €500,000

2. Acquisition and refurbishment of real estate older than 30 years or in an area of urban regeneration of an amount equal to or above €350,000 (including renovation costs)

B. CAPITAL TRANSFER

1. Capital Transfer with a value equal to or above 1,5 million Euro into a Portuguese Bank Account or specifically approved investment options

2. Capital transfer of the amount equal to or above €500,000 for investment in research activities developed by public or private scientific research institutions that are part of the national scientific or technological system

3. Capital transfer of the amount equal to or above €250,000 for investment in artistic output and supporting the arts, for the restoration or maintenance of national cultural heritage

4. Capital transfer of the amount equal to or above €500,000 for acquisition of units of investment funds or venture capital funds dedicated to the capitalization of companies, capital injected under Portuguese legislation, whose maturity, at the moment of investment is at least of five years and at least 60% of the investment is realized in commercial companies with head office in the national territory.

C. BUSINESS

1. The creation of at least 10 jobs

2. Capital transfer of the amount equal to or above €500,000 for the incorporation or increase in share capital of a company with its head office in Portugal, in conjunction with the creation/maintenance of 5 permanent working jobs for a minimum period of 3 years

PROCEDURES AND TIMEFRAMES

1. Investment decision, obtainment of Portuguese Tax number, opening of Portuguese bank account and compilation of required documentation for application purposes. At this stage applicant visits Portugal.

2. Filing of application and documentation. Family member application may be filed at this stage.

3. Applicant and family members (if applicable) travel to Portugal for collection of biometric data.

4. Decisions on requests to grant or renew residence authorizations should be made within a maximum of 90 days. This may be extended by another 3 months.

5. Residence card issued with 1-year validity

6. Residence card to be renewed at the end of year 1 and the end of year 3 for periods of 2 years.

7. In year 5 the applicant has the option to (i) renew the residence card (ii) apply for permanent residence in Portugal if eligible or (iii) apply for Portuguese citizenship if eligible.

FEES

• Professional fees
• Initial application fee of €533.90
• Approval fee of €5,336.40
• Renewal fee of €2,668.20
• Approval fee for family members €5336.40
• Renewal fee for family members €2,668.20
• Approval fee for minors €2,668.20
• Accommodation
• Internationally recognized Health Insurance
• Fees in relation to opening of bank account and obtainment of a tax identification number in Portugal