Golden Visa Residence Permit (ARI)
Non EU – nationals may obtain a temporary residence permit to conduct business activities without the need of visa to enter Portugal.
1. Bearers of ARI / Golden Visa are entitled to:
– Living and working in Portugal, provided they stay in Portugal for a period of at least 7 days in the first year an 14 days in the following 4 years.
– Visa exemption for travelling within the Schengen countries
– Family reunification
Applying for permanent residence (according to requirements for it)
– After 6 years, applying for Portuguese citizenship, by naturalization, providing fulfilment of other requirements set out by the Nationality Act.
2. Non – EU nationals may apply for a Golden Visa permit via:
a) Capital transfer of at least 1 million euros;
b) Creation of at least 10 job positions;
c) Purchase of real estate property with a price of at least 500.000 euros;
d) Purchase of real estate property with a price of at least 350.000 euros, if the building dates back for more than 30 years or is located in urban regeneration areas, with the purpose of renovation;
e) Capital transfer of at least 350.000 euros for investing in research activities lead by public or private scientific research entities;
f) Capital transfer of at least 250.000 euros for investing in artistic output or supporting the arts or reconstruction of national heritage;
g) Capital transfer of at least 500.000 euros, for purchasing shares of investment funds or in venture capital geared to capital small and medium size companies, which in turn must have a feasible capitalization plan.
3. Irrespective of specific documents for each kind of investments, every investor much provide the following:
a) Passport or other valid travel document;
b) Supporting documents on the legal entry and stay in Portugal;
c) Documentary evidence of adequate health insurance (issued within the prior three months), specifically:
* Document attesting that the applicant is covered by the National Health Service, or;
* Document attesting that the applicant is covered by an internationally acknowledged Health Insurance Plan for the duration of the stay, with indication of automatic renewal on the expiry date;
d) Criminal record certificate – duly certified by a Portuguese diplomatic or consular post abroad – of the country of origin, or country of residence in case the applicant has lived in another country for over one year. This document must be translated into Portuguese and must have been issued within the prior three months;
e) Completed application form with permission for checking the Portuguese Criminal Records;
f) Affidavit, whereby the applicant declares on his/her word of honour that he/she shall comply with the minimum quantitative requirements and shall keep the investment for a minimum period of five years;
g) Up-to-date declarations issued within the prior 45 days by the Portuguese Tax Authorities and by the Portuguese Social Security confirming the absence of any debts to those authorities;
h) Receipt for payment of the ARI/Golden Visa Application Examination Fees;
4. In case of real estate investments, the investor must provide the following documents:
a) Final Deed of purchase, or Promissory Contract;
b) Declaration issued by a financial institution accredited or registered in national territory by the Bank of Portugal, confirming an actual international bank transfer for purchasing or for payment as initial deposit (sinal) on the sale agreement, amounting to 500.000 euros or more;
c) Certificate of the Land Registry Office (Conservatória do Registo Predial) issued within the prior 45 days, comprising the registrations, endorsements and entries in force and proving the ownership of the real estate, free of any encumbrances, or certificate of registry comprising the provisional record of purchase, when legally feasible, with an initial deposit (sinal) of 500 thousand euros or more;
d) Official Tax Description (Canderneta Predial) of the real estate, when legally feasible;
e) Except oh the Commercial Register (Registo Comercial) issued within the prior 45 days in case the investment is made by means of a single member limited company of wich the applicant is the owner.
5. Real estate transaction are subject to the following taxes:
– IMT (Transmission Tax) -6%
– Stamp duty -8%
6. The purchase shall be signed at a notary office and shall be registed at the Land Registry.
For Further information the site www.sef.pt may be consulted and I’m available to answer any further questions.