Golden View Portugal
1 – What is the Golden Visa Portugal?
The Visa Gold program launched by the Portuguese authorities in October 2012, is a quick way for foreign investors from countries outside the EU to get a fully valid residence permit in Portugal (“Golden Visa”).
Under the program Visa Gold, third-country nationals need only perform one of the investments foreseen in the law to qualify for a residence permit in Portugal. This permit will allow the investor to enter and / or live in Portugal and travel freely within most European countries (espaço Schengen).
Aiming to attract foreign investment in Portugal, Golden Visa is a very simple and flexible program, with simple and clear legal requirements. With extremely reduced minimum stay requirements, Golden Visa is clearly one of the most attractive residency programs for investors worldwide.
2 – What types of investments are permitted under the rules of thumb visa?
The following types of investments eligible for the program Visa Gold:
a) Acquisition of assets in an amount equal to or greater than € 500.000
b) Transfer of funds above € 1.000.000 or more
c) Creating, minimum, 10 (ten o'clock) jobs in Portugal
Note that only the investments actually performed after 08 October 2012 are eligible for the program Visa Gold.
3 – How long is the Golden Visa is valid?
Once issued, Golden Visa will be valid for an initial period of 1 (one) year and will be renewed for successive periods of two years.
4 – What are the general requirements that the investor must meet?
The simplicity of the gold Visa Program implies an extremely small amount of requirements being asked of the investor. The Visa Gold Program stipulates that the investor must comply with the general requirements applicable to all types of qualified investments and also to the specific needs of each type of eligible investment.
In general, all investors have to meet the following requirements:
a) Hold the investment for a minimum period of 5 years
b) Investment funds must come from outside
c) The entry into Portugal with a valid Schengen visa
d) Absence of references in Portuguese Immigration and services Schengen
and) Lack of relevant criminal conviction
f) Minimum stay in Portugal: 7 (seven) days during the first year and 14 (fourteen) days in each subsequent period of two years
5 – What are the specific characteristics for each type of qualifying investment?
Each type of investment qualification with specific characteristics, as follows:
(a) acquisition of property
– Minimum investment of 500.000 €
– Acquiring one or more properties
– All property types qualify
– Possibility of co-ownership;
– Free to use, rent or lease
(b) Transfer of funds
– Minimum investment of € 1.000.000
– The funds transferred from abroad to a bank in Portugal
– Total freedom to invest the funds
– Possibility to use the funds to invest in shares of companies
(c) Job Creation
– Creating at least 10 jobs
– There is no minimum investment
– Without limiting areas / activities
– Fulfillment of social security contributions
– Possibility of subsidies / incentives / benefits
6 – What are the main advantages of VISA GOLDEN Program?
The Gold Visa Program will provide investors the following vantagens:
– No need to get a visa to enter Portugal
– No need to get a visa to travel in Europe (espaço Schengen)
– Living and working in Portugal, even residing in a different country
– Residence extended to family
– Periods of extremely low minimum stay
– Permanent residence after 5 years
– Citizenship after 6 years
7 – What is the Schengen Area and what are the countries that are?
The Schengen Area is a group of 26 European countries which have abolished passport controls at their common borders and immigration. With a residence permit from Portugal, the investor has the right to enter and move freely in all Schengen countries.
The Schengen area includes the following countries: Áustria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, Switzerland.
8 – You can extend the Gold Visa for family members?
Yes. Under the Visa Gold Program, members of the investor's family may also apply and obtain a residence permit by applying Portugal “family reunion”. The Golden visa will be extended to the family, children, spouse and dependent family members.
Family members will also be eligible for Permanent Residence after 5 years after Portuguese Citizenship 6 years.
9 – How can the investor and his family get permanent residence after 5 years?
Under Portuguese law any person who has held a valid temporary residence permit Portuguese (eg the Golden Visa) for a period of at least 5 years, he will have the right to obtain permanent residence in Portugal.
The investor and their family members will have to meet the following criteria, in order to be able to apply for permanent residence in Portugal:
– Absence of conviction of crime involved in recent 5 (five years)
– Proof of income / financial independence
– Proof of accommodation in Portugal
– Basic knowledge of Portuguese
10 – How can the investor and his family get the Portuguese citizenship?
The Portuguese law also provides that any person who has resided legally in Portugal for at least 6 (years (minor or a temporary residence permit or permanent), is eligible to obtain Portuguese citizenship.
In order to be able to get the citizenship Portuguese, the investor and family members will also have to meet the following requirements:
– Have at least 18 years old (or at least 16, but married or legal guardian)
– Absence of condemnation of any significant crime
– Pass a language test simple Portuguese, which will serve to show sufficient knowledge of the language
11 – Which documents the need for investors to provide to apply for the Visa Gold?
The Golden Visa application implies that the investor will have to submit the following documentation:
– Try de Investimento
– Passaporte valid Schengen visa
– Portuguese Fiscal Number
– Criminal record of the country of residence
– Portuguese Criminal Record
– Statement of Tax Department confirming the absence of debts to the Treasury
– Statement of Social Security proving the absence of debts to social security institutions
– Declaration of the investor confirming compliance with the investment requirements
– Valid health insurance in Portugal
– 2 passport photos
12 – The documents are not in Portuguese language. What does the need for investors to do?
Any document that is not in Portuguese or English must be translated into Portuguese. The translation must be certified.
13 – There are specific requirements for the documents issued by foreign authorities?
Document issued by foreign authorities must be authenticated before being presented in Portugal. This means getting the legalization Appostille of the Hague Convention (when applicable) or Portuguese consular legalization.
14 – What is a Tax Number? why investors need one and how to achieve it?
A tax number is an identification number before the Tax Administration also known as the Portuguese tax number). This number is required to hold applications.
15 – Where the investor can apply for the visa Gold?
Any investor interested in applying for the visa Golden, may submit an application, personally or through a legal representative designated by him, one of the following ways:
a) Online Registration
To register online in the Foreign and Borders (“SEF”) website. After registration is completed the investor will receive a password and you can access online, to submit the forms and documents needed.
b) In Person
Personally, the Foreigners and Borders Services in Portugal.
Note that the investor and family members must always be present at the Aliens and pensioners of Portugal for fingerprints, signature and other formalities.
We strongly recommend obtaining legal advice from a law firm with experience before taking any of the steps of the Golden Visa, in other words, before making any investment or submitting any applications or documents.
16 – What are the costs involved in obtaining a visa Golden?
The Golden Visa involves the payment of the following fees (payable directly to the Department of Immigration and Borders (“SEF”)):
a) Processing fee (application and renewal) – 513,75 € (plus € 80,04 by family member)
b) Initial Gold Visa – € 5,137.50
c) Initial Gold Visa for family members – € 5,137.50
d) Golden Visa Renewal – € 2,568.75
17 – How long will it take for the application to be processed and that the investor has to get Golden Visa in person?
Once the application is submitted to the Aliens and Borders (SEF), it will take about 1-2 weeks for the application to be processed (please, note that this is only an estimate based on our recent experience).
Once the order is processed, Services for Foreigners and Borders (SEF) will contact the investor or legal representatives of investors in Portugal and arrange a meeting with the investor (and family) to collect signatures and fingerprints.
Note that, In some cases, is possible that investors who go to immigration officers to leave fingerprints and signature, shortly before the investment and / or presentation of the required documents.
18 – Is there any reason to refuse to issue a visa Golden or its renewal?
The investor (or any family member) only be refused Visa Golden (or renewal) is:
a) It / she did not keep the investment for a minimum period of 5 (years)
b) It / it has not met the minimum periods of stay in Portugal
c) It / she has been convicted of a crime punishable by imprisonment exceeding one year
d) The investor is in a period in which he / her entry was banned in Portuguese territory after a removal of the country
and) For reasons of public health (this can only be based on diseases that have been defined by the World Health Organization or other infectious and parasitic diseases that are the subject of protective measures in Portuguese territory)
f) The Golden Visa can be denied for reasons of public order, public security or public health
19 – What happens to the investment after 5 years – the investor can sell the property / transfer money to another country / extinguish charges?
Yes, the investor only needs to maintain investment during the period of validity of the Golden Visa – 5 years
20 – The investor can sell the investment at any time, if it no longer needs to Visa Gold?
Yes, but without proof that the investment has been maintained, the investor will not be able to renew the visa permission of Gold.
21 – Does the need for investors to live / use the property you are buying or can be rented out?
Not, the investor does not need to occupy the property and can be rented out for income.
22 – What are the taxes and the cost of acquisition of real estate and property?
There are three related taxes in Portugal with ownership:
a) payable with the purchase of property:
– “IMT” or Property Tax Transfer “, What is the tax on transfer of property in goods
– Stamp Duty
Note: The exact amount of taxes to be paid varies according to the actual acquisition value.
b) payable annually:
“IMI” or Council Tax, What is the tax on the annual municipal property; which is collected from 0,3% and 0,5% the tax value of the property
23 – With Golden Visa is the need of the investor to pay taxes in Portugal on their worldwide income?
Not, if the visa holder of gold does not stay in Portugal over form 183 Consecutive Days, it / she will not be required to pay taxes for income generated outside Portugal.
24 – The applicable income tax on income generated in Portugal?
Rental income and income from equity (for example, Interest, dividends, etc) will be taxed at a rate of 28%.
Do you have questions? If so, contact us and we will be happy to provide additional information. already can help!