A €350,000 property or a transfer to Portugal of €1,000,000 in cash, among other routes, secures Residency. Permanent Residency after five years. Citizenship now also after five years of residency. Visa free access to 186 countries.
GOLDEN RESIDENCE PERMIT PROGRAMME
WHO MAY APPLY
Non European Union member-state nationals who want to pursue an investment activity in Portugal.
DURATION OF THE PROGRAMME
The Golden Residence Permit will be given temporarily for an initial period of one year, renewable for two consecutive periods of two years. All Portugal Golden Visa current and prospective clients that meet the minimum 7 days per year residency requirement in Portugal, and speak basic Portuguese will be eligible to apply directly for Citizenship after 5 years (no need to apply for Permanent Residence), without having to make an extended stay in Portugal (providing they have renewed their Golden Visa during the 5-year period).
e.g. An investment in real estate of €500,000 or €350,000 in the case of a property more than 30 years old or in an area of urban regeneration.
Applicants will probably know this normal “Golden Visa” route to Portuguese citizenship. Buy a property in Portugal for €350,000. Reside in Portugal for the specified 35 days over five years. Learn some Portuguese. Portuguese citizenship should be available after five years.
There are however usually several issues with this normal route. The property bought for €350,000 is often not a property that the applicant actually wanted. It will have been bought in a hurry from a developer at an inflated price. The rent achieved turns out to be nowhere near the rent shown in the projections. The applicant receives an email that the roof leaks. The refrigerator breaks. The tenants soil the furniture with red wine. The management company goes into liquidation. On and on.
For the wealthy only Passports Global Ltd has perhaps a better route to Portuguese citizenship. It is far less costly than buying a property. Simply put, if you have an investment portfolio worth in excess of €1,000,000 then all you have to do is put this portfolio under the Portuguese “wrapper” which we provide, invest in just the same investments as you had before, reside in Portugal for the specified 35 days over five years, learn some Portuguese and citizenship should be available to the applicant after five years. The costs are a few fees. For information please contact us.
Documents and requirements:
- Passport or another valid traveling document;
- Enter Portugal for the first time on a valid Schengen visa;
- Proof of health insurance;
- Signed application enabling consultation of the Portuguese Criminal Record authority;
- Criminal Record Certificate showing no criminal record from the relevant authority of country of origin or residence for more than one year;
- Evidence of compliance with tax and Social Security obligations.
- Proof that investment funds originate from abroad.
- The main applicant’s property is not frozen within the boundaries of the EU.
- Meet or exceed the minimum stay requirements. (Seven days for the first year, 14 days for subsequent two-year periods.)
The applicant is entitled to:
- Request a Residence Permit also for immediate family, under the family regrouping option;
Legally work in Portugal;
- Travel within the Schengen area.
- The holders of a Golden Residence Permit may be eligible for a Permanent Residence Permit or Portuguese Citizenship, if all other legal requirements are fulfilled.
For detailed information on the advantages and disadvantages of the citizenship schemes available in Portugal and the application process and requirements, please contact us.