Golden Visa Portugal
Residence Permit for Investment Activity
The Golden Residence Permit or Golden Visa (“GRP”) was created as part of the residence permit by investment activity program to spur foreign investment in the Portuguese economy. The program affords non-EU nationals an opportunity to apply for a Portuguese residence permit and freely circulate within most European countries (in the Schengen Area), if they make an eligible investment in the country.
Which are Portugal Golden Visa requirements:
How does a non-EU national get a Golden Visa in Portugal?
The GRP is issued to non-EU nationals that make an eligible investment in Portugal for a period of at least 5 years. The investor is required under the GRP to spend at least 7 days in Portugal in the first year and 14 days over the following two-year periods.
Decree-Law 14/2021, of 12 February, reduced the types of real estate investment eligible for the GRP and increased the minimum thresholds of most remaining eligible investments. However, these amendments will only apply from 1 January 2022 onwards.
Which types of investment are available?
1. Financial investments
- Capital transfer of EUR 1.5M to a financial institution established in Portugal;
- Investment in artistic production, recovery or maintenance of national cultural heritage of at least EUR 250k;
- Investment in research of at least EUR 500k;
- Investment in the incorporation/share capital increase of Portuguese companies involving the creation/maintenance of 5 jobs of at least EUR 500k; and
- Investment in the acquisition of units in investment funds to capitalize Portuguese companies of at least EUR 500k.
2. Real estate investments
- Acquisition of property for EUR 500k or more;
- Acquisition of 30+ year-old property or property located in urban renewal areas for refurbishing, for EUR 350k or more.
Investments in the acquisition of residential property are only be eligible if the property is located in the Autonomous Regions of the Azores and Madeira or in inland areas, which are listed in Administrative Order 208/2017, of 13 July 2017, that includes certain municipalities in the Alentejo Coast (such as Alcácer do Sal and Grândola, which are elegible coastal areas), Algarve, Douro and Serra da Estrela.
3. Job Creation
- Creation of 10 jobs in Portugal.
The GRP is an individual residence permit granted to the Investor, but the Investor can apply for a residence permit for the members of their household (e.g. spouse, children, parents). Under the “family regrouping” scheme, the Investor’s relatives may be granted a residence permit similar to the GRP without being required to make additional investment themselves.
Golden Visa Portugal fees (adjusted annually)
An initial EUR 533 fee and an EUR 5,325 permit issue fee are payable upon applying for the GRP. Any subsequent renewals of the GRP are subject to an EUR 2,663 renewal fee.
Permanent Residence Permit and Citizenship by investment
After completing the required initial five-year period, GRP holders become entitled to apply for a permanent resident permit (also issued for a five-year period) or citizenship. In any case, the Investor needs to meet certain legal criteria, including the proof of knowledge of the Portuguese language.
The GRP is a simple process but still a very personal one. Should you have any doubts concerning the GRP or your personal situation, VdA will be more than happy to clarify them for you and assist you in connection with securing your GRP, should you so wish.
This information is of preliminary general nature and does not replace proper legal advice.
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Vanguard Properties is one of Portugal’s largest real estate residential developers. It has a portfolio of more than 22 projects, with 1.027.781 sqm above ground, in Lisbon, Algarve, Oeiras and Comporta, and investments of 1.215 Million euros.Explore our Portfolio