PORTUGAL

PORTUGAL

$500,000

Overview

The Portugal residency by investment program’s legal framework was first introduced by amending Act number 23/2007 of July 4, 2012, which is known as the “Golden Visa”.
On the 8th October 2012, the Government of Portugal made changes to the Immigration Law 29/2012 allowing non-EU Citizens to receive a temporary EU Residence Permit for up to 5 years in exchange for investments in Portugal’s Real Estate. The new regulations offer non-EU Citizens, a simple and fast way for property investors to receive a five-year Residence Permit.

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Description

Country Info

Located in South Western Europe, on the Iberian Peninsula, Portugal is one of the oldest European Nations, however the Portugal of today is a highly-developed country and the world’s 19th highest quality of life and one of the world’s most globalized and peaceful nations. Portugal is a member of the EU, Eurozone, and the Schengen Agreement. Globally, Portugal is also a member of the United Nations, the OECD, and the NATO. Portugal combines a beautiful landscape with state-of-the-art urban architecture. Once you get Portugal residency, you can enjoy the highlights among Portugal’s attractions vary from culture, gastronomy and wines, beaches, golf, history, a variety of landscapes and above all the hospitality of the Portuguese people.

Costs

To be eligible for Portugal golden visa under its residency by investment programme, the applicant is required to do a Real Estate Investment and a non-refundable contribution to the Government.

1. Commercial & Touristic Real Estate

Acquisition of commercial property anywhere in Portugal
€500,000
Acquisition of commercial property anywhere in Portugal – subject to a 20% discount if the property is in a designated low-density population
€400,000
Acquisition of commercial property, more than 30 years old subject to approved renovation works, anywhere in Portugal
€350,000
Acquisition of commercial property, more than 30 years old subject to approved renovation works and in a designated low density area
€280,000

2. RESIDENTIAL REAL ESTATE INVESTMENT

Residential Real Estate Investment through one of the Government approved real estate asset classes: freehold property with title deed; fractional ownership or land. The revised legislation for Portugal’s Golden Visa Program investment options limit the areas in which you can purchase residential real estate to qualify for the Residency Visa. The new legislation states that residential investments can no longer be purchased in Lisbon, Porto & the Algarve (coastal areas), qualifying areas for residential real estate are now limited to interior regions of the country and in the autonomous regions of the Azores and Madeira only. The investment and Government Fees are payable once the citizenship is approved. The non-refundable financial contribution varies depending on the number of applicants as follows:

Acquisition of Property in the interior of the country
EUR 500,000
Acquisition of Property in the interior of the country – Subject to a 20% reduction if property is in a designated low-density population.
EUR 400,000
Acquisition of Property in the interior of the country – More than 30 years old subject to approved renovation works.
EUR 350,000
Acquisition of Property in the interior of the country – More than 30 years old subject to approved renovation works & in a designated low-density population area.
EUR 280,000
Initial Investor Residency Permit
EUR 5,150
GOVERNMENT FEES

In addition to the purchase of real estate, there are Government fees to be paid.

Main Applicant
EUR 550
Each Dependent either spouse, children or elderly parents
EUR 80
Initial Residency Permit per family member
EUR 5,150

Citizenship Invest professional fees, official application forms, certification of citizenship and passport, courier & other disbursements are the only other costs associated. A detailed quotation with no hidden costs is provided for the specific case.

Required Documents

Citizenship Invest appoints a Document Collection Specialist for each case. The firm offers a bespoke service that simplifies the application process, requesting from clients the bear minimum. Our job is to simplify the document collection as much as possible and when required we obtain the documents for the client without their involvement. Please note the below list is to be used as a guideline only, after assessing the particular case Citizenship Invest prepares a personalized checklist.

Documents required from each applicant including children:
• Certified copy of valid passports
• Schengen Visa
• Three (3) Original passport-size photos
• Original excerpt of Birth record or certified copy of Birth certificates with Official Portuguese or English translation and legalized/ Apostilled by the Portuguese Consulate in Country of issuance
• Criminal Record for all adults for both Country of Birth & Country of Residence (If different) (Applicants above 16) with Official Portuguese or English translation and legalized / Apostilled by the Portuguese Consulate in Country of issuance
• Flight Ticket Reservation to visit Portugal (issuance not necessary)
• Proof of accommodation from a hotel or invitation letter from a relative or friend in order to prove the destination and the purpose of the trip

Documents required only if married persons apply together:
• Original excerpt of marriage record or certified copy of marriage certificates with Official Portuguese or English translation and legalized/
Apostilled by the Portuguese Consulate in Country of issuance
• Certified copy of divorce certificate with Official Portuguese or English translation and legalized/ Apostilled by the Portuguese Consulate in
Country of issuance (if applicable).

Timeline

WEEK 1-2

CI Retainer Agreement signed and first Payment of CI Professional Fees.

The Client could select the Portuguese property remotely and CI starts preparing the property purchase documentation required to be presented for Residency application.

WEEK 2-4

The Client must travel to Portugal to get the passport stamped before submitting the Residency application. If the client does not have Schengen Visa, then a Portuguese Tourist Visa must be applied for at the Portuguese Consulate in the client’s country of origin / residence

The Client & all applicants travel to Portugal on Schengen / Tourist Visa, to obtain passport stamp & visit Immigration Department. Client can see the property, alternatively, can directly transfer the capital to his new Portuguese bank account opened by CI.

MONTH 3

Property Purchase executed by CI Lawyers. Residence Permit documentation is submitted to the Government including the property Title Deed. At this point, Government Processing Application Fees are payable.

The client pays the Submission invoice of CI Professional Fees

MONTH 4

Upon Approval, a meeting with the authorities is scheduled. At this point, Government Residency Permit Fees are payable.

CI final Professional Fees are paid.
Clients can travel to Portugal to collect the Residency Permit, alternatively, CI lawyers can collect on client’s behalf. Residence Permit is issued within 45 days.

 

The estimated time to receive residence visa approval depends on the due diligence processing time and the specific case.

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