What are Golden Visas? All about the Residence Permit for Investment Activity  

 

You have surely heard of Golden Visas, a special regime that allows foreign citizens to obtain a temporary residence permit for investment activity in Portugal.

The regime in question is officially called "Residence Permit for Investment Activity" and allows beneficiaries to be exempt from a residence visa, as long as they meet certain requirements.

 

What are the advantages for beneficiaries of the "Golden Visas"?

- Enter Portugal with a residence visa waiver;

- Reside and work in Portugal, provided they comply with some conditions of stay;

- Travel within the Schengen area without the need for a visa;

- Benefiting from family reunion;

- Apply for a Permanent Residence Permit under the terms of the Foreigners' Act;

- Possibility to apply for Portuguese nationality by naturalisation.

 

​Who can benefit from Golden Visas?

All nationals of Third States who carry out an investment activity, personally or through a company incorporated in Portugal or in another State of the E.U. and with a permanent establishment in Portugal, and who meet one of the following requirements, may take advantage of Gold Visas:

- The transfer of capital in the amount equal to or greater than 1 million euros;

- The creation of at least 10 jobs;

- The acquisition of immovable property with a value equal to or greater than 500 thousand euros;

- Acquisition of real estate, whose construction has been concluded at least 30 years ago or is located in an urban rehabilitation area, and execution of rehabilitation works on the acquired real estate, for an overall amount equal to or greater than 350 thousand euros;

- Capital transfers in the amount equal to or higher than 350 thousand euros, to be applied in research activities developed by public or private scientific research institutions, integrated into the national scientific and technological system;

- Capital transfers equal to or over 250 thousand euros, which are applied in investment or support of artistic production, recovery or maintenance of the national cultural heritage;

- Capital transfers in the amount equal to or greater than EUR 350,000, aimed at the acquisition of investment units in investment funds or venture capital funds focused on the capitalisation of companies incorporated under Portuguese law, with a minimum maturity of five years at the time of the investment and at least 60% of the value of the investment being made in commercial companies based in national territory;

- Capital transfers in the amount equal to or higher than ¤ 350,000, aimed at the incorporation of a commercial company with registered office in the national territory, combined with the creation of five permanent jobs, or to increase the share capital of a commercial company with registered office in the national territory, already existing, with the creation or maintenance of jobs, with a minimum of five permanent jobs, and for a minimum period of three years.

 

The Residence Permit for Investment Activity (ARI) regime has been in force in Portugal since 8 October 2012. Since then, many foreign entrepreneurs have used this investment incentive programme, particularly Asian and Brazilian investors.

The main reasons that bring foreign investors to Portugal under the Golden Visas are the fact that it is a very peaceful and safe country, with a low cost of living and excellent quality of life.

The climatic conditions and the fact that we have a large stretch of coastline are also major attractions for the foreign market.

 

End of Golden Visas for the Portuguese Coast

Soon, the Residence Permit for Investment Activity regime will change. As of 1 January 2022, residence permits in Portugal will only be allowed to those who invest in residential properties located in the Autonomous Regions of the Azores and Madeira or in inland regions. The diploma also contains changes to the investment values required, increasing the minimum investment amounts.

The end of the attribution of Gold Visas for coastal regions, as is the case of Matosinhos, makes it imperative that during this second semester of 2021, businessmen interested in investing in properties in this area speed up this process.

The flats of Edifício Mouzinho de Albuquerque are the ideal investment: located in one of the most sought after areas of the country, near the beach and at the entrance of Porto, this luxurious development can be your home in Portugal. Please contact us!

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