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
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 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%)
- “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.