INVESTOR VISA IN PORTUGAL (and III)

We conclude our series on the Portuguese Golden Programme for investors with some final questions:

8.- For how long is the golden permit valid?

The golden permit is valid, initially, for one year and then it is renewed every 2 years.

9.- How long does it take for the golden permit to be issued?

When the initial application is complete, the permit is issued in 72 hours. However, please allow a few more days for complete processing.

10.- Are there any requirements to renew the golden permit?

In order to renew the permit, the applicant must fulfil the initial conditions when the permit was issued: ie, maintain an investment of € 1,000,000; create 10 jobs; be the owner of real estate valued at € 500,000.

11.- Is reunification possible?

The following family members are eligible for reunification: spouse; children under legal age (18); children of legal age if single and studying in a Portuguese institution; sponsor’s or spouse’s parents (if they depend on the sponsor): younger brothers under the sponsor’s custody.

As regards the reunification of sponsor’s or spouse’s parents, evidence must be produced to prove that the parents do not have the financial resources to support themselves.

12.- Are there any costs involved?

Yes, there are three main costs:

a) A processing fee for application and renewal: € 513.75 (plus € 80.04 per family member);

b) Initial Permit for applicant or family member: € 5,137.50;

c) Renewal of Permit: € 2,568.75.

INVESTOR VISA IN PORTUGAL (II)

We continue our series on the Portuguese Golden Programme for investors with another helping of faqs:

4.- Can a permanent residence be requested?

Applicants can request permanent residence after 5 years of residence in Portugal

5.- Can residents apply for citizenship?

After a six year period, residents can apply for Portuguese citizenship.

6.- Are there language requirements in order to apply for citizenship?

One of the requirements is to have at least an A2 level according to the Common European Framework of Reference for Languages

7.- Which countries do not need visa to enter Portugal?

EEA countries plus Andorra just need their ID cards.

The following countries just need a passport valid for 3 months after the end of the traveller’s stay (maximum stay is 90 days): Antigua and Barbuda, Argentina, Australia, Bahamas, Barbados, Bermudas, Bolivia, Brazil, Brunei, Canada, Chile, Costa Rica, Croatia, El Salvador, Guatemala, Honduras, Israel, Japan, Macedonia, Malaysia, Mauritius, Mexico, Monaco, Montenegro, New Zealand, Nicaragua, Panama, Paraguay, Saint Christopher and Nevis, São Marino, Serbia, Seychelles, Singapore, South Korea, United States, Uruguay, Vatican, Venezuela as well as Hong Kong and Macao. (This list may be subject to changes)

INVESTOR VISA IN PORTUGAL (I)

The new Portuguese golden programme has stirred much interest among investors that would like to obtain a visa to live in Portugal. The following faqs are provided as general guidance:

1.- Which are the general conditions to be eligible for the Programme?

The law has considered three conditions which can render an investor eligible for the Programme (meeting one of them is enough to qualify the applicant):

a) Minimum capital investment of € 1,000,000 (this also includes investment in shares);

b) Creation of at least 10 jobs;

c) Acquisition of property for a minimum amount of € 500,000 (with no liens or encumbrances).

2.- Are there any limitations as to the buying of real estate?

The only limitation is that each applicant must invest at least € 500,000 and the property must be free of liens and encumbrances.

Property can be bought with other investors as long as each one has a minimum share of € 500.000.

All types of property are eligible and may be used or leased freely.

3.- Does the applicant need to physically stay in Portugal?

When applying for the Golden Programme, there are certain requirements that must be met. If the applicant wants to renew his permit (after the first year, or after each subsequent two-year period), one of the requirements is to physically stay in Portugal for a number of days:

First year: at least 7 days (whether consecutive or not);

At least 14 days (whether consecutive or not), during the next 2 year period.