A Golden Visa is a mechanism that allows foreign nationals to obtain a residence permit making it a privileged entry into Europe and allowing such permit holders free circulation in a Shengen countries.
With this mechanism it is possible to obtain a residence permit for investments activity (visa gold), if the foreign nationals makes one of the following investments in Portugal, maintained for a minimum period of five years after the date the residence permit granted:
- Transfer capital in amount equal or greator than Eur. 1.000.000,00;
- Creation of a least 10 jobs;
- Aqquisition of a real state of value equal or greator than Eur. 500.000,00. (this is the more simply to aqquire the golden visa).
Necessary requirements to obtain the Visa Gold
The simplicity of the Golden Visa Programme implies an extremely reduced amount of requirements being asked from the investor. The Golden Visa Programme sets out that the investor must comply with general requirements applicable to all types of qualifying investments and also with the specific requirements of each type of qualifying investment.
In general all investitors have to comply with following requirements:
- Keep the investment for a minimum period of 5 years
- Funds for investment should come from abroad
- Entry in Portugal with a valid Schengen visa
- Absence of references in the Portuguese Immigration and the Schengen services
- Absence of conviction of relevant crime
The residence permit is valid for one year at the time of its issuance, renewable subsequently for periods of 2 years, provided that the minimum legal requirements are maintained and Minimum stay in Portugal: 7 (seven) days during the first year and 14 (fourteen) days during each subsequent period of two years.
To enter Portugal you will have to obtain a short stay visa (visa C)
The request can be made online at the following site www.secomunidades.pt.
The request shall state the reasons for the intended
Documents you will need to attach:
- a passport photo;
- Authentic travel document valid for 3 months;
- Proof of the legal documentary situation;
- Reservation of round-trip tickets;
- Travel medical insurance (minimum coverage of 30.000 valid for the entire Schengen area)
- Proof of professional activity and salary and presentation of the last 3 g) bank statements (to prove the means of subsistence)
- Reservation of hotel or guaranteed accommodation conditions
- Proof of entry and stay in Portuguese territory;
- Request for consultation of the criminal record by the SEF (we do)
- Certified criminal record issued by the Portuguese authorities (we do)
- Certified criminal record of the country of origin with authentication by Portuguese consulate or apostille of the haia convention)
- Declaring of commitment of honor attesting the fulfillment of the minimum requirements related to the exercise of the investment activity (we do)
- Providence of investments made in portugal.
As a rule, the request should be decided within 60 days, but it may take longer
Obsv: The short-stay visa can be issued by the Portuguese consulate in the country of origin
The specific characteristics for property acquisitions:
Each type of qualifying investment has specific characteristics, as follows:
(a) Property Acquisitions
- Minimum investment of € 500,000
- Purchase of one or multiple properties
- All property types qualify
- Possibility of co-ownership;
- Freedom to use, rent or lease.
The main advantages of the Golden Visa Programme?
The Golden Visa Programme will provide investors with the following advantages:
- No need to obtain a visa to enter Portugal
- No need to obtain a visa to travel in Europe (Schengen area)
- Living and working in Portugal, even with residency in a different country
- Residency extended to family members
- Extremely low minimum stay periods
- Permanent Residency after 5 years
- Citizenship after 6 years.
To demonstrate compliance with this the applicant must submit:
- Purchasing title of buying and selling real estate;
- Statement of credit institution authorized in Portugal with the Bank of Portugal, attesting to the international transfer of capital for the acquisition of property or the payment of purchase and sale of value equal or greater than 500.000 Euros.
- The conservatory certificate from de Land Registry to the records endorsements and registration in force demonstrating to have the ownership of real property
- Certificate of update business register, which demonstrates that the applicant member of the sole member of the sole proprietorship by owning shares, if the investement is held through sole proprietorship limited company.
The Schengen Area includes the following countries
The Schengen Area is a group of 26 European countries that have abolished passport and immigration controls at their common borders. With a resident permit from Portugal, the investor is entitled to enter and travel freely throughout all the countries of the Schengen area.
The Schengen Area includes the following countries: Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, The Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, Switzerland.
The documents the investitor need to provide to apply for the Golden Visa
The application for the Golden Visa implies that the investor will have to submit the following documentation:
- Proof of Investment
- Passport & Valid Schengen Visa
- Portuguese Fiscal number
- Criminal Record from country of residency
- Portuguese Criminal Record (we do)
- Declaration from the Tax Department proving the absence of debts to the Tax Authorities(We do)
- Declaration from Social Security proving the absence of debts to Social Security Authorities (We do)
- Declaration from the investor confirming compliance with the investment requirements
- Health Insurance valid in Portugal
- 2 passport-type pictures
Any document that is not in the Portuguese or English languages needs to be translated to Portuguese. The translation needs to be certified; All documents need to be legalized before being submitted in Portugal. This legalization means obtaining the Appostille of the Hague Convention (when applicable) or legalization by the Portuguese Consular services.
The application can be made simultaneously with the granting of the golden visa but will always be conditional upon the granting of the request of the latter.
The other requirements and documents are applicable to this application, except for the investment
Taxes costs for property acquisitions and ownership
There are three taxes in Portugal related to property:
a) Payable with the property’s acquisition:
- “IMT” or Property Transfer Tax”, which is the tax on transfer of ownership of property (6,5%)
- Stamp Duty (0,8%)
b) “IMI” or Council Tax, which is the annual municipal property tax; it is levied between 0.3% and 0.5% on the property’s tax value.
Note: The exact amount of taxes to be paid varies according to the actual value of the acquisition.
Any citizen who is in Portugal in irregular situation has access to the urgent medical services available in any public hospital.
Any foreigner with residence authorization can obtain the National Health Service card
The SNS user card is the user ID card; Document that proves the identity of its owner, before the institutions and services integrated in the NHS. Its issue is free, but renewal in case of loss is paid.
It is presented for the following purposes:
- Health care delivery;
- Requisition of diagnostic and therapeutic aids;
- Prescription and purchase of medicines.
Foreigners holding a residence permit or residence permit or a work visa can obtain the SNS User Card. For the purposes of obtaining the SNS user card, foreign citizens must present, with the health services in their area of residence, the document proving the authorization to stay or to reside, or a work visa in the national territory, according to the situations Applicable.
Public costs to obtain the Golden Visa
- Analysis process in the Aliens and Borders Service: 514,70 Eur
- Issuance residence authorization card (per person) 5.147,80 Eur
- Renewal residence permit (per person) 2573,90 Eur
- Issuance the second renewal of the residence permit 257,40 Eur
- Issuance the third renewal of the residence permit 514,80 Eur
- Emoluments with the Deeds (approximate value) 500,00 Eur
- Registration with the acquisition of the property (approximate value) 250,00 Eur
- bank account opening (approximate Value) 250,00 Eur
- International Health Insurance: varies according to the beneficiary’s personal conditions
Residence authorization process with the SEF 6,000.00 Eur
Family reunification 2,000,00 Eur
- Our office monitors all purchases that must be made to comply with the investment:
For each act we elaborate the contracts promise of purchase and sale, we analyze the necessary documents, and we follow the all the scriptures. For each act we charge the amount of 1,5% on the purchase price
Legal services we can provide to foreigners:
- legal advice in the management of assets
- Preparation of leases and other contracts
- Emission of competent income receipts
- Payment of their taxes
- Appointment with the insurance company in the choice of the best apolice
- Representation of the owners in the condominium assemblies
Annual fees 5.000,00 Eur
Observ The fees must include VAT at the current legal rate (23%)