In an effort to attract foreign investment into Portugal, the Portuguese government has initiated the Golden Residence Permit Programme (also known as Golden Visa) to encourage 3rd party inhabitants to invest in Portugal. There are various methods possible as discussed in the article below, and meeting these requirements the government provides certain benefits to make this investment attractive.
As an estate agent, we prefer category 3 and 4. Category 4 is more difficult, because the number of available properties meeting these strict criteria are more difficult to meet, particularly outside of main urban areas. There has been a strong influx of Chinese residents because of the Golden Visa programme.
The rules governing the granting of Residence Permit for Investment (ARI / Golden Visa), are in force from 8 October 2012, and enable third-country nationals to obtain a temporary residence permit to conduct business activities with visa waiver to enter national Portuguese territory. The beneficiaries of ARI / Golden Visa are entitled to Residence visa waiver for entering Portugal.
Living and working in Portugal, on condition that they stay in Portugal for a period of 7 or more days, in the first year, and 14 or more days, in the subsequent years allow the following benefits:
All third country citizens who conduct an investment activity, as an individual businessperson or through a company set up in Portugal or in another EU Member State and who, in addition, are stably settled in Portugal, provided these citizens fulfil the quantitative requirements and the time requirements set out by the relevant legislation, may apply for a Residence Permit for Investment, by one of the following Categories:
Portuguese, EU and EEE nationals are not eligible for the ARI / Golden Visa scheme.
Should you be interested in further information about the Golden Visa Programme, please get in touch with us and we will put you in contact with a specialist who will guide you through the process.