The golden visa is a Portuguese residency permit that allows free movement in the Schengen zone of 26 countries for 5 years.Golden visa holders can also apply for family reunification and will, after a period of 5 years, be granted permanent residency where in the 6th year Portuguese citizenship can be applied for. This is dependent on current legal provisions, provided they pass a basic language test and demonstrate an affiliation to Portugal.
Types of investment.
Minimum capital investment of €1000 000 via a standard savings bank account or investment in Portuguese equities.
Minimum value of €350 000 unencumbered (property older than 30 years)
Multiple properties may be purchased
All properties can be rented out (long/short term)
For acquisitions exceeding €500 000 a bond at 2% rate can be facilitated
Co-ownership is permitted provided each individual invests the minimum €500 000
Employ at least 10 workers at minimum wage
Employees must be registered with the social security department
Minimum stay in Portugal
Period minimum stay
year 1 7 days
years 2 & 3 14 days
years 4 & 5 14 days
Funding for investment must come from abroad, outside of Portugal
The investment must be retained for at least 5 years
Prior to receiving temporary residence all entry into Portugal must be with a valid Schengen visa
Absence of criminal conviction
Residence permits can also be granted to family members of an eligible main applicant through this procedure. These dependents may apply for the Golden visa concurrently to the main investor, provided that they are under the age of 18 or are enrolled in full time study. Parents over the age of 65 also qualify.
Permanent residency will be granted to those who have successfully renewed their temporary residence for a full 5 year period and have met the following requirements:
Proof of accommodation in Portugal
Basic knowledge of the Portuguese language
Proof of income/financial independence
Absence of relevant criminal convictions during the 5 year period
The following conditions are required for a foreign national and his/her family to apply for Portuguese citizenship:
Applicant has been a resident in Portugal for 6 years under a temporary or permanent residency permit
Demonstrate sufficient fluency if the Portuguese language (A2 level)
Has a clean criminal record
It is a similar family reunification process as that of the Golden Visa, but one member of the family must hold EU citizenship. A legitimate rental agreement instead of a property purchase will suffice.
Business Development Accord
Actual registration and starting of a company. A business plan, social security registration etc is required.
The residence process is the initial application – for one year, then two years and then another two years making a total of five years to Permanent Resident.
Citizenship requires a further one year before application.
Private medical care is not necessary as medical is covered by the social security contribution.