The Golden Residence Permit Program has been running since October 2012 and allows qualified applicants to obtain residence status in Portugal, even while maintaining residence elsewhere. Investors’ families may join them in Portugal. The Program is the ideal solution for individuals looking to obtain the freedom to live and work in Europe. Portugal is located in South-Western Europe, on the Iberian Peninsula. It borders Spain, and has a long coastline along the Atlantic Ocean. Portugal’s territory includes the archipelagos of the Azores and Madeira. Its capital city, Lisbon, is the oldest city of Western Europe.
Portugal is ranked 41st out of 187 countries in the United Nations’ Human Development Index 2014, placing it in the ‘very high human development’ group. It is the oldest European nation-state and a member of the European Union since 1986. Portugal is a stable, semi-presidential constitutional republic, with division of powers between the executive, legislative, and judicial branches.
Applicants for the Golden Residence Permit Program must fulfil the following conditions:
- Be of good character, including having received no convictions for any crime punishable with a prison sentence of one year or more
- Be physically present in Portugal for the purpose of supplying biometric data
- Have not been banned from Portugal in the past
- Not be on any alert list for entry into the Schengen Area
BENEFITS OF RESIDENCE IN PORTUGAL
- The safety and mobility that comes with residence in Europe, including access to the Schengen Area and other markets – making it ideal for business travelers
- The ability, both for applicants and their families, to live, work, study, and undertake business in Portugal
- Permanent residence may be granted after 5 years, and citizenship after 6 years
The Golden Residence Permit Program was established by Order n. 11820-A/2012 and Order no. 1661-A/2013, which amends Act n. 23/2007 and lays down the legal framework for the entry, permanence, and exit of foreigners from Portugal. The Programme is administered by the Portuguese Serviço de Estrangeiros e Fronteiras (SEF), the country’s aliens and border control authority. Within the first year of obtaining a residence permit through the Program, applicants must reside in Portugal for a minimum of 7 days. In the subsequent two slots of 2 years, applicants must spend at least 14 days in Portugal in each slot. Applicants must fulfil one of the following criteria to be eligible for the Golden Residence Permit Program:
- The purchase of real estate worth at least EUR 500,000.
- The real estate may be residential, commercial, or agricultural, and can be used to generate income or rent;
- A capital transfer or investment of at least EUR 1 million, which may include the purchase of shares in a company listed on the Portuguese stock exchange;
- The creation of at least 30 job positions in Portugal;
- The purchase of the real estate property for the total value over 350,000 Euros that was constructed over 30 years ago, or located within the urban regenerations areas, designated to be refurbished.
- The investment must be maintained for at least 5 years from the date the residence permit is granted. The permit must be renewed at the end of the first and third year.
- Permanent residence is granted after 5 years.
VISA VERTEX Law Associates is on-hand to provide assistance through every step of the application process. We will discuss the Program with you, and assist you in selecting the best investment option available. VISA VERTEX Law Associates will assist you in completing the necessary application forms and supporting documents, and in making the relevant investment or purchase. All documents must be provided in Portuguese or in English. If original documents are not in Portuguese or English, a notarized translation must be provided. When ready, the application will be submitted to the SEF, the body which processes Golden Residence Permit applications. Applicants must provide the following documents:
- A valid passport
- Proof of legal entry and stay in Portugal, if already in Portugal
- Proof of health insurance
- A signed application permitting the SEF to consult Portuguese criminal records
- Criminal Record Certificates from any country where the applicant has lived for 1 year or more, as well as from Portugal
- Tax certificate from Portugal
- An affidavit signed by the applicant stating that the required investment will be made and maintained for the minimum time applicable under the law
- Documents proving the chosen investment
- Marriage Certificate
- Birth Certificate
- Proof of enrolment in the education institution (for children over es18) The application process takes approximately
6 months from the time the application is submitted, although this will vary according to each individual applicant and the type of investment being made.