Golden Visa Portugal
Golden Visa Portugal: rules in 2022 and how it works
Portugal has attracted investors from all over the world and programs such as Golden Visa encourage the arrival of foreigners who want to invest and/or live in the country. With some significant changes that came into force in 2022, Golden Visa Portugal is still an interesting alternative for those who want to live in the country. Understand how the program works, what are the conditions and requirements for applying for a visa.
What is Golden Visa Portugal?
The Golden Visa, officially called a Residence Permit for Investment Activity (ARI), is a modality of residence visa in Portugal. This category of visa grants a residence permit to foreigners who prove the realization of certain types of investment in Portugal.
In force since 2012, Golden Visa allows, by maintaining the investment for at least five years, these foreigners have the right to apply for Portuguese nationality. The program thus allows you to live in Portugal or just make an investment in the country.
ARI - Residence Permit for Investment Activity
The Residence Permit for Investment Activity, as it is called by the SEF (Service of Foreigners and Borders of Portugal) allows citizens of countries outside the European Union to obtain a temporary residence permit for investment activity with the waiver of a visa to enter national territory.
How the Golden Visa Portugal Program works
The Golden Visa Program is a visa modality dedicated to investors who inject large amounts into the Portuguese. These investments can be real estate or other sectors. The main difference from the investor visa is the value of the investment, which starts at 250,000 euros.
Thus, to fit the Golden Visa it is necessary to meet the investment criteria established by the government Portuguese.
What are the investment options for Golden Visa Portugal?
There are eight investment conditions that meet the criteria for obtaining the Golden Visa:
1. Acquire real estate of eur 500,000 or moreThe most common method to purchase Golden Visa Portugal is to buy one or more properties in the country, provided that the sum of the value of the properties is at least 500,000 euros. The properties purchased can be used as an investment, to be leased, for example.
2. Acquire old real estate in urban rehabilitation areas in the overall amount of EUR 350,000 or more
The value of the investment in real estate is lower if the real estate acquired has been built more than 30 years ago, or is located in an urban rehabilitation area, and you promote rehabilitation works in these assets.
In this way, the overall amount needed to obtain the Golden Visa becomes 350,000 euros. Additionally, this value can also be reduced by 20% (280,000 euros) if the properties are located in low density territories.
3. Transfer capital in the amount of EUR 1.5 million or more
This modality includes, among other ways, the possibility of transferring capital to a deposit account in a credit institution in Portugal, for the acquisition of public debt instruments of the Portuguese State and for the acquisition of book-entry securities.
The value of the minimum investment in this modality has been changed. As of 1 January 2022, it is EUR 1.5 million.
4. Create at least 10 jobs
"Enterprising investors" will also be able to obtain the Golden Visa if they generate at least 10 jobs in Portugal, and this requirement may be reduced by 20% (8 jobs) when it is carried out in a low density territory.
5. Investing in scientific research
The possibility of granting Golden Visa Portugal to those who invest at least 500,000 euros in scientific research is more recent in the program (since 2015). The activities should be developed by public or private institutions of scientific research, integrated in the national scientific and technological system.
This change aims to bring more diversified investors to the country and focused on strategic sectors for the Government. And the value of this investment can also be reduced by 20% (400,000 euros) when it is made in low density territory.
6. Investing in artistic production, preservation or conservation of cultural heritage
Also due to the changes that occurred in 2015, those who apply 250,000 euros in artistic production and preservation or conservation of the national cultural heritage, also becomes eligible in the Golden Visa Portugal.
The value of this investment can also be reduced by 20% (200,000 euros) when it is made in low density territory.
7. Investing in investment funds
Investing in investment funds or venture capital funds geared to the capitalization of companies is also an alternative to apply for Golden Visa. The minimum amount of the investment is 500,000 euros.
To meet the established criteria, it is necessary that the company is under Portuguese law, and has at the time of the investment at least five years. In addition, at least 60% of the value of investments must be realised in commercial companies based in Portuguese.
8. Invest in a commercial company based in national territory
Valid for investment equal to or greater than EUR 500,000, destined to the establishment of a commercial company based in national territory. In addition, five permanent jobs should be created.
The investment can also be used as a strengthening of the share capital of a commercial company based in national territory, already constituted. It shall rely in such cases on the creation or maintenance of jobs, with a minimum of five permanent, and for a minimum period of three years.
Golden Visa changes valid from January 1, 2022
The 2020 State Budget provided for some changes to the Golden Visa programme, which would be valid from July 2021.
However, they entered into force only on January 1, 2022, limiting some criteria established for the granting of ARI, as determined by Decree-Law No. 14/2021.
It is not exactly the end of the Golden Visa program in Portugal, but some changes that significantly affect the type of investment made in the country. The two main measures adopted are:
- Restriction of real estate investments necessary for the granting of Golden Visas to the territories of the interior of the country, Madeira and azores. Housing real estate investment in Porto, Lisbon and algarve will not be allowed to grant the Golden Visa;
- Increase in the minimum value of some of the investment assumptions (as described above).
Please note: the restriction of real estate investment in Lisbon, Porto and algarve for the granting of Golden Visa is housing, for investment in commercial real estate (rooms, shops, etc.) there is no such restriction.
Who can apply for Golden Visa Portugal?
Non-EU foreign nationals who do not have European citizenship may apply for the Golden Visa. To do so, they must make one of the eight types of investments defined in the visa modality.
The investment may be made in person or through a company incorporated in Portugal, or in another Member State of the European Union and with a permanent establishment in Portugal.
Golden Visa Portugal for family
The rights provided for the golden visa holder extend to the family through family reunification. Thus, it is possible that the family member who fits the limitations of reunification, has directly to the residence permit in Portugal.
The reunification allows children, spouses and parents, who meet the established criteria, such as being a minor or studying in Portugal, in the case of children, for example, can benefit from the condition.
What are the advantages of Golden Visa from Portugal?
- Waiver of residence visa to enter Portugal;
- Benefit from family reunification;
- Possibility to apply for a permanent residence permit or Portuguese citizenship;
- Move around the Schengen area without the need for a visa;
- Possibility to apply for Portuguese citizenship, by naturalization after 5 years in the country.
Golden Visa is an alternative for those who want to take advantage of investment opportunities in Portugal and, at the same time, for those who wish to reside or work legally in Portugal.
