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Golden Residence Permit Programme

(GOLDEN VISA)
(Residence Permit for Investment Activity – ARI)

The Golden Residence Permit Programme (Residence Permit for Investment Activity) allows the possibility of applying for a residence permit to third States citizens for the purpose of performing investment activities (transferring capital, creating jobs or acquiring real estate), on the basis of compliance with certain requirements (Act 23/2007 of July 4th amended by Act 29/2012 of August 9th).

The Order nº. 1661-A/2013, issued by the Portuguese Ministries of Foreign Affairs and Internal Affairs has introduced some amendments to the earlier Order nº. 11820-A/2012, and has simplified some items of this special regime.

This Order applies to all third State citizens who conduct one of the investment activities described below. It also applies to all third State citizens who hold share capital of a company with head office in Portugal, or in another Member-State of the European Union and with permanent establishment in Portugal.

The residence permit shall be granted for performing investment activities for third State citizens who cumulatively:

1. Fulfill the following general conditions:

a) No facts known to the competent authorities that would preclude the grant of a visa;
b) Presence in Portuguese territory;
c) The possession of sufficient means of subsistence;
d) Accommodation;
e) Registration in the Social Security System, where applicable;
f) The absence of a criminal conviction by a crime punishable under the Portuguese law by a penalty involving deprivation of liberty for more than one year;
g) The citizen is not in the ban period of entry in the Portuguese territory, subsequent to an order to leave the country for which the period of prohibition of reentry into Portuguese territory has not yet expired;
h) Absence of an alert in the Schengen Information System;
i) Absence of an alert in the Portuguese Information System.

2. Hold a valid Schengen visa;

3. Legalize their permanence in Portugal within 90 days of their first entry into national territory;

4. Perform an Investment Activity (any activity carried on by the citizen in person or through a company) that involves, at least, one of the following investments in Portuguese territory for a minimum period of five years:

a) Capital transfer with a value equal to or above 1 million Euros;
b) The creation of, at least , 10 job positions; or
c) Purchase of real estate property with a value equal to or above 500 thousand Euros.
Regarding the investment mentioned in the previous subparagraph a), the requirement is deemed fulfilled upon the delivery of evidence by the citizen, of investments made in the minimum value determined, including investments in shares and quotas of companies.
Regarding the investment mentioned in the previous subparagraph b), the requirement is deemed fulfilled where the citizen presents evidence of having created 10 jobs and that all workers have been registered in the Social Security System.
Regarding the investment mentioned in the previous subparagraph c), the requirement is deemed fulfilled where the citizen presents evidence of having the ownership of real estate property. The citizen can:

• Purchase the real estate property on co-ownership regime, since each of one of the joint owners invests a value equal to or above 500 thousand Euros, or through a Promissory Purchase Contract that includes a pre-payment (sinal) with a value equal to or above 500 thousand Euros. Before the renewal of the residence permit the citizen shall present the title deed of acquisition;
• Charge the real estate property starting from a value above 500 thousand Euros;
• Promote the use and renting of the real estate property for commercial, agricultural and touristic purposes.
  Where one of the minimum quantitative requirements is fulfilled through a company, the value ascribable to the applicant of the residence permit shall be the same as the value of his shares within the total share capital.
  The holders of the Residence Permit for Investment Activity have the right to family regrouping, and may gain access to a permanent residence permit (after 5 years), as well as to Portuguese citizenship (after 6 years) in accordance to the current legal provisions.