The Golden residence permit programme
New legal provisions now allow for the possibility of applying for residence permits for those who wish to pursue investment activities and who regularly enter the country (beneficiaries of Visa exemptions and holders of valid Schengen Visas), by creating jobs, transferring capital or acquiring real estate.
Holders of GRP’s (Golden Residence Permits) for investment purposes also have the right to family regrouping, and may have access to a PR, as well as Portuguese citizenship, which must comply with the current legal provisions.
Who may request a residence permit for investment purposes?
Third world country nationals who either carry out investments through a company or personally that leads to at least one of these situations in the Portuguese territory for at least five years:
• Creating a minimum of 10 jobs
• Acquiring real estate with a value of at least 500 thousand Euros
• Transferring capital of a minimum of 1 million Euros (including company stocks/shares)
How should a person fill out a request to acquire real estate?
• By showing that you have full ownership of the real estate by means of producing a property purchase undertaking or transfer deed. These documents need to include a declaration from a chosen financial institution, which authorises you to carry out the desired activities in the Portuguese territory. It must also include proof that there has been a transfer of at least 500 Euros made for its acquisition or proof that you intend on purchasing.
• And by sending in a recently updated certificate from the local property registrar, which will stand as a promissory contract, provided that it is legal.
• Be bought under a co-ownership scheme, providing that each of the owners invests a minimum of 500 Euros, or via a promissory sale-purchase agreement which indicates the amounts that each party is putting in. The transfer deed needs to be handed in before any request is made to renew residency permits for investors;
• be leased and exploited for agricultural, tourism or commercial purposes;
• Be encumbered starting with a threshold which is higher than 500 thousand Euros.
How do I request a residence permit for investment activities?
It is possible to make requests online or at consulates overseas, Portuguese diplomatic posts or at regional or central offices of the border and foreigners service. More information can be obtained from your immigration specialist at New World Immigration.
Anyone who is in possession of Golden Residence Permits for Investment Activity has the right to what is called “family regrouping”, and may also gain access to permanent residence permits, as well as the possibility of attaining Portuguese citizenship.
Minimum permanent residency periods
In order to renew your permit, you might have to prove that you have been living in the territory for at least 7 days during the last 12 months/14 days in the last 24 months.