New legal provisions open up the possibility of applying for a residence permit for pursuing investment activities in Portugal to those who have entered the country regularly (v.g. holders of valid Schengen visas, or beneficiaries of visa exemption), by transferring capital, creating jobs or acquiring real estate.
Recently the Portuguese government through the ministry of Foreign Affairs has established new legislation that allows non EU citizens, through investment in the country, to obtain a residency permit, commonly known as the “golden residence permit”, or “golden visa”, which enables foreign Investors to travel freely in the Schengen area.
The Schengen Area is a group of 26 European states which have abolished passport and immigration controls at their common borders. It functions as a single country for international travel purposes, with a common visa policy.
The holder of a golden residence permit may travel freely in the Schengen Area (Germany, Austria, Belgium, Denmark, Slovakia, Slovenia, Estonia, Spain, Finland, France, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxemburg, Malta, Norway, the Czech Republic, the Netherlands, Poland, Portugal, Sweden and Switzerland)
NPCF provides legal services related to the acquisition of nationality (Portuguese citizenship), and legal rights of foreign citizens (non EU citizens), namely obtaining visas and other legal authorizations regarding short, temporary or permanent entry and stay in the Portuguese national territory.
A “golden residence permit” may be granted to foreign non EU Citizens, by making an investment in the country, for a minimum period of 5 years and on condition that they stay in Portugal for a period of 7 or more days, in the first year, and 14 or more days, in the subsequent years.
All third country citizens who conduct an investment activity, as an individual businessperson or through a company set up in Portugal or in another EU Member State and who, in addition, are stably settled in Portugal, provided these citizens fulfil the quantitative requirements and the time requirements set out by the relevant legislation, may apply for a Residence Permit for Investment, by one of the following routes:
- Capital transfer with a value equal to or above 1 million Euros;
- The creation of, at least, 10 job positions;
- The purchase of real estate property with a value equal to or above 500 thousand Euros;
- The purchase of real estate property, with construction dating back more than 30 years or located in urban regeneration areas, for refurbishing, for a total value equal to or above 350 thousand Euros;
- Capital transfer with a value equal to or above 350 thousand Euros for investing in research activities conducted by public or private scientific research institutions involved in the national scientific or technologic system;
- Capital transfer with a value equal to or above 250 thousand Euros for investing in artistic output or supporting the arts, for reconstruction or refurbishment of the national heritage, through the local and central authorities, public institutions, public corporate sector, public foundations, private foundations of public interest, networked local authorities, local corporate sector organizations, local associations and public cultural associations, pursuing activities of artistic output, and reconstruction or maintenance of the national heritage;
- Capital transfer with a value equal to or above 500 thousand Euros, for purchasing shares in investment funds or in venture capital geared to capitalize small and medium companies that, in turn, must present a feasible capitalization plan.
NKIC is pleased to partner with NUNO PINTO COELHO DE FARIA & ASSOCIADOS, SOCIEDADE DE ADVOGADOS, R.L., LAW FIRM, shortly known as “NPCF”, a Law Firm positioned in the market since 2008.
Please Contact Us for more information on this program.
