With an aim to boost the Portuguese economy and attract foreign investment, the residence-for-investment permit was created, commonly known as the “Golden Visa”
This permit is intended for all EU third country citizens who intend to undertake/carry out investment activities as well as third states who hold social capital of a society with headquarters in Portugal or in another member state of the European Union, and with a permanent establishment in the country.
For the purpose of this regime, in harmony with article n.º 23/2007, 4th July, in the version given by Law n.º 29/2012, 9th September, the following activities are considered investment activities:
a) Transfer of capita equal to or greater than € 1,000,000.00;
b) Creation of at least 10 jobs:
c) Purchase of immovable property worth equal to or greater than € 500,000.00.
The investment carried out shall be maintained for at minimum period of 5 years, starting from the date the residence permit is authorised, the first one being issued for a one year period and then renewed for 2 year periods at a time.
Note that, in this regard, only investment operations carried out after the 8th October 2012 will be considered
In order to benefit from this regime, third country citizens shall also fulfil other requirements:
a) Initially: They must be holders of valid Schengen visas, they must regularise their stay in Portugal within the 90 days after the date of entry and they must comply with the general conditions of the temporary residence permit granted;
b) Renewal: In addition to the aforementioned, for the purpose of renewal of this residence permit, it is necessary for the beneficiaries to have stayed for a minimum period of 7 days consecutive or alternate, during the first year. During the second and following years, the minimum stay period rises to 14 days.