Portugal Golden Visa Program

The Portugal Golden Visa Program, formally known as the Portuguese Permanent Residency Permit with Investment, was instituted in 2012 by the Portuguese Government. Designed as an initiative to bolster foreign investment, this programme serves as a gateway for non-EU citizens to gain permanent residency in Portugal and facilitates visa-free mobility across the EU Schengen zone, which encompasses 26 member states.

As Ketenci&Ketenci, we are a leading law firm advising on Portuguese Residency and Citizenship by Investment. We have significant experience in Portuguese immigration, real estate, fund and corporate law matters.

Over the years, we have successfully advised and represented hundreds of Clients from around the world on the Portuguese Golden Visa program.

We have advised clients from a diverse array of backgrounds and from numerous nations including Pakistan, UAE, Saudi Arabia, Jordan, Iraq, Iran, Yemen, Algeria, Egypt, Palestine, Morocco, Syria, Bahrain, Kuwait, Qatar, Algeria, Malaysia, Bangladesh, and other Asian Countries like China, India, Vietnam, Philippines, Malaysia, Indonesia. Additionally, we've assisted clients from Western nations such as the US, UK, France, Canada, Italy, Sweden, Switzerland, Greece, Poland, and even Caribbean countries. Our client base also extends to the CIS countries, including Russia, Azerbaijan, Belarus, Kazakhstan, and African nations like Nigeria, Ivory Coast, South Africa, among many others.

Under our guidance and with our advice, our clients and their families have successfully obtained firstly Portuguese Residency and then Citizenships through property investment, fund investment, capital transfer and other alternative routes.

We tailor our advice to each client's specific needs and requirements, always adhering to Portuguese immigration law rules. As seasoned immigration lawyers and attorneys in based in Lisbon and Porto in Portugal, we can offer comprehensive advice on obtaining Portuguese Citizenship by Investment for you and your family members.

We provide in-depth advice on the Portuguese Residency by Investment application and meticulously oversee all necessary procedures for our clients. This includes opening new bank accounts, reviewing properties, handling property sale transactions, fund subscription, company formation as well as managing other essential tasks in Portugal.

As highly experienced Portuguese citizenship and residency lawyers, we are pleased to offer our advice to our clients, guiding them through the process of obtaining Portuguese citizenship by investment.

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Key Features of the Programme:

1. Rights and Privileges: Investors as well as their family members can obtain residence in Portugal. Holders of the Portuguese Residency Permit through Portuguese golden visa investment scheme are also granted the right to live, work, and set up a business in Portugal. Moreover, they can have visa-free travel rights throughout the EU Schengen area.

2. Pathway to EU Citizenship: One of the standout features of this programme is the opportunity it offers for acquiring Portuguese citizenship, which can be applied for after five continuous years of residency. This is particularly appealing given the strength of the Portuguese passport, which, as of 2021, is ranked the 4th most powerful globally.

3. Family Inclusion: The main investor or applicant is entitled to include family members in the Golden Visa application. This includes their spouse, children up to 18 years, and those above 18 who are unmarried and actively engaged in full-time education. Additionally, parents aged 65 and above can also be encompassed in the application.

4. Minimal Residency Requirements: The Portugal Golden Visa Programme is especially notable for its lenient residency prerequisites. For the pathway to citizenship, investors are mandated to stay in Portugal for just 7 days in the initial year and a minimum of 14 days in each subsequent year. This is a far more flexible requirement compared to many other EU residency-by-investment programmes.

5. Language Proficiency for Citizenship: To successfully acquire Portuguese citizenship, applicants must exhibit a basic understanding of the Portuguese language. This is gauged through a language proficiency test, ensuring that potential citizens possess a foundational knowledge of the nation's language.

In summary, the Portugal Golden Visa Programme stands out as an exceptionally alluring proposition for potential investors. Not only does it offer a swift route to European residency and eventual citizenship, but it also presents an array of benefits to the main applicant and their immediate family. Given the prestige associated with the Portuguese passport and the programme's minimal residency stipulations, it's no wonder that this scheme is amongst the most sought-after in the world.

A Comprehensive Guide to Recent Revisions

In the ever-evolving landscape of global citizenship and residency programmes, Portugal's Golden Visa has consistently held a prominent position, enticing a plethora of high-net-worth individuals to its shores. Nevertheless, the recent alterations, largely spurred by the "Mais Habitação" intervention plan, have sparked significant discourse and, at times, confusion. With various media outlets and even governmental statements appearing inconsistent, it's imperative to shed light on the current legal standings.

As of October 2023, following promulgation of the new law by the Portuguese President, following investment routes will be eligible only to apply for Golden Visa:

1. Fund Investment: Capital transfers of €500,000 or more for procuring shares in non-real estate collective investment undertakings, established under Portuguese jurisdiction. It's mandatory that such undertakings have a maturity of at least five years at the time of the investment and allocate a minimum of 60% of their asset value to commercial entities situated within the nation.

2. Job Creation: The establishment of a minimum of ten job roles.

3. Research Contributions: Capital transfers of €500,000 or more directed towards research endeavours executed by either public or private scientific establishments, integral to the national scientific and technological infrastructure.

4. Cultural and Artistic Patronage: Capital transfers equating to or exceeding €250,000 that support artistic ventures or the restoration and upkeep of national cultural heritage. The beneficiaries of these funds would be a spectrum of public and private entities engaged in arts and cultural preservation.

5. Entrepreneurial Ventures: Capital transfers equaling or surpassing €500,000, designated for either the foundation of a commercial enterprise domiciled in Portugal, conjoined with the creation of five permanent jobs, or for augmenting the capital of an existing commercial entity. This must result in either the generation of a minimum of five permanent roles or the sustenance of at least ten roles, of which five are permanent, spanning a three-year duration.

It's also prudent to highlight that the aforementioned investment actions will likely be subjected to biennial assessments, gauging their repercussions on scientific, cultural, and employment facets, as well as their efficacy in bolstering foreign direct investment.

Addressing temporary residence, it's pivotal to mention that nationals from third countries under EU restrictive stipulations may encounter challenges in obtaining or renewing residence permits.

For those in the midst of ARI applications, those submitted prior to the law's formalisation remain valid. This also extends to processes awaiting preliminary approval from the Municipalities. When it comes to the familial reunification of investors, both application and renewal processes for residence permits remain unaffected.

With regard to residency obligations, the requirement stipulates a seven-day stay (either consecutive or non-consecutive) within the inaugural year, followed by a 14-day (either consecutive or non-consecutive) stay over the subsequent two years.

Benefits of the Portuguese Golden Visa Program:

Portugal, with its diverse, welcoming, and inclusive culture, ensures a sense of security and contentment for families.

Real estate values in regions like Lisbon, Porto, and Algarve have consistently appreciated in euros annually for the past two decades, a trend that persisted even during the pandemic.

Establishing a company in Portugal paves the way for unrestricted trade with all EU nations.

After maintaining lawful residency for a span of five years, golden visa holders become eligible to apply for Portuguese citizenship.

Upon obtaining a Portuguese passport – and thereby gaining Portuguese citizenship – individuals have the liberty to reside in any EU nation, be it Germany, France, Italy, or the Netherlands. This also unlocks the plethora of social benefits extended by all EU member states.

Immediate visa free travel rights across the EU Schengen Zone is another important asset.

A myriad of enticing investment alternatives are presented to investors, including stakes in hotels, office spaces, upscale residences, other commercial real estate, and fund investments.

Portugal & Portuguese Golden Visa Scheme FAQs

1. Why Portugal?

Positioned on the western edge of Europe, Portugal promises a high quality of life. Recognized as one of the safest nations globally, its rich blend of diverse, warm, and welcoming cultures ensures a fulfilling life for you and your family. Living in Portugal not only offers a delightful experience but also paves the way to enjoy the benefits of being in a prominent European nation. Portugal also boasts a high living standard, safety, a warm and inclusive culture, and the perks of being an EU citizen. Its robust economy also presents numerous business opportunities.

2. Who are the primary applicants for the Portuguese Golden Visa?

Mostly, investors from countries like the US, China, UK, Turkey, Brazil and Russia apply for and receive residency permits in Portugal via the Golden Visa program. After 5 years, several have also achieved Portuguese Citizenship.

3. What is Portugal's Golden Residence Permit Program?

This program offers non-EU nationals a five-year investment-based residence, granting free movement within the 26-state Schengen area.

4. What are the Golden Residence Permit Program application prerequisites?

Applicants must demonstrate a qualifying investment, such as property, funds, or capital. Additionally, a clean criminal record and other mandatory documents are essential for application.

5. Duration to secure Portuguese Residency?

It usually takes around 8 months for the Golden Residence Permit Program application process. The investor and their family can expect residency permits within 6-8 months from the application date.

6. What benefits does this Program offer?

Key perks include:

• Only a 35-day stay in Portugal over 5 years.
• Access to Portugal and all Schengen countries.
• Diverse investment options.
• Eligibility for citizenship after six years.

7. Is travel to Portugal mandatory during the Residence Permit process?

Yes. A seven-day stay is required in the first year, followed by 14 days in subsequent two-year intervals.

8. Which countries offer visa-free travel for Portuguese citizens?

Portuguese passport holders can enjoy visa-free access to over 185 countries, encompassing regions like the US, UK, Switzerland, EU countries, and Hong Kong.

9. Is Portugal a tax haven for Golden Visa applicants?

While not a tax haven, Portugal's non-habitual tax residency structure provides several tax and business benefits for investors.

10. Which laws govern the Portuguese Golden Visa Program?

Law No.23/2007 establishes the foundation for citizenship, while Ordinance No. 305-A/2012 details the Golden Visa program's terms.

11. Is it still possible to obtain the Portuguese Golden Visa through real estate investment?

Recent legal amendments have phased out the direct real estate investment option for the Portuguese Golden Visa. However, investing in a fund has emerged as a much viable alternative when comparing with real estate option. Additionally, establishing a company and creating jobs route could provide a pathway to property ownership. For a clearer understanding of your options and available opportunities, please contact us.

12. How many family members can join the Main Applicant for residency?

Alongside the main applicant, the spouse and dependent children can also apply.

13. Are language proficiency tests mandatory for Portuguese Residency?

No, there's no need for a language test to secure Portuguese Residency.

Ketenci & Ketenci stands as a premier global immigration law firm with a distinguished team of skilled Portuguese and international legal professionals focused on the Portuguese golden visa program.

We guide our clients meticulously through every step of the Portuguese Residency by Investment process, ensuring all essentials, from acquiring tax numbers to opening local bank accounts and obtaining the necessary document attestations, are efficiently managed.

We offer guidance to our clients exploring eligible, well-established Portuguese golden visa funds as an investment route.

Additionally, in collaboration with a curated group of esteemed developers and licensed property consultants in Lisbon, Porto, and Algarve, we also advise our clients and assist in property investments in Portugal.

You can schedule a video consultation with our seasoned immigration legal experts to receive tailored advice in line with your investment preferences and desired jurisdiction.

For comprehensive information on the Portugal Golden Visa, acquiring Portuguese Citizenship, or insights on other citizenship and residency by investment initiatives, please get in touch with us.

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+90 216 455 80 98