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WHAT IS THE PORTUGUESE GOLDEN VISA?

Golden Visa is a type of residence permit that allows entry and stay in Portuguese territory without the need for a residence visa.

Foreign citizens, who intend to invest in Portugal or carry out an investment activity (personally or through a company incorporated in Portugal), can apply for Golden Visa.

As for investment, can be made in any of the following possibilities:
  • Capital transfer in the amount of 1 million euros or more;
  • The creation of at least 10 jobs (no minimum investment amount is required), in any business area;
  • The acquisition of real estate with a value equal to or greater than 500,000 euros;
  • Acquisition of real estate, whose construction has been completed at least 30 years ago or located in an urban rehabilitation area and carrying out a renovation in the total amount equal to or greater than 350,000 euros;
  • Capital transfer in the amount equal to or greater than 350,000 euros, which is applied in research activities carried out by public or private scientific research institutions, integrated with the national scientific and technological system;
  • Capital transfer in the amount equal to or greater than 250,000 euros, which is applied in investment or support to artistic production, recovery or maintenance of cultural heritage, through services of central and peripheral direct administration, public institutes, entities that integrate the public sector business, public foundations, private foundations with public utility status, inter-municipal entities, entities that integrate the local business sector, municipal associative entities and public cultural associations, which pursue tasks in the area of ​​artistic production, recovery or maintenance of the national cultural heritage;
  • Capital transfer in the amount equal to or greater than 350,000 euros, intended for the acquisition of investment units in investment funds or venture capital funds dedicated to the capitalization of companies that are formed under Portuguese legislation, whose maturity, at the moment investment, is at least five years and at least 60% of the value of the investments is made in commercial companies based in the national territory;
  • Capital transfer in the amount equal to or greater than 350,000 euros, destined to set up a commercial company, combined with the creation of five permanent jobs, or to reinforce the social capital of a commercial company with headquarters in national territory, already in activity, with the creation or maintenance of jobs, with a minimum of five permanent jobs, and for a minimum period of three years.
Upon approval of the Golden Visa, a residence permit is granted for an initial period of 1 year, but with the possibility of renewal for periods of 2 years.

The main advantages of the Golden Visa in Portugal are:
  • Enter Portugal with no residence visa required;
  • Reside and work in Portugal, and must at least stay in Portugal for a period of not less than 7 days in the first year and not less than 14 days in the following years;
  • Circulate through the Schengen Area, no visa required;
  • Benefit from family reunification;
  • Request, after five years, the granting of Permanent Residence Authorization or the acquisition of Portuguese nationality, by naturalization, complying with the other requirements required by the Nationality Law, namely sufficient knowledge of the Portuguese language.
Golden Visa meets the opportunity to invest in Europe with the possibility of residing in Portugal, one of its most emblematic countries and with the most stable borders throughout history.

POPULAR

PORTUGAL, A PEACEFUL COUNTRY

In the recent Global Peace Index 2016, Portugal is ranked as the fifth most peaceful country in the world, in a table that organises 163 countries.

The index is based on 23 quantitative and qualitative indicators that measure the level of peace in each country. The indicators can be grouped into three general themes: level of security and protection of society; the number of international conflicts and; the degree of militarization.

Among these factors, Portugal scored in militarization (1.4 points out of 5), society and security (1.6 out of 5) and internal conflicts (1.1 out of 5). Portugal also scored in other factors such as the perception of crime, the level of violent demonstrations and crimes, the impact of terrorism or the number of displaced persons.

PORTUGAL MAKES TOP TEN OF RETIREMENT DESTINATIONS

The Annual Global Retirement Index places Portugal as the seventh best destination in the world to retire. The top three destinations listed by International Living are Costa Rica, Mexico and Panama. Spain has listed two positions below Portugal in ninth and is the only other European nation on the list.

According to International Living’s report, “the third-safest country in the world in the 2017 Global Peace Index, Portugal is not only secure but beautiful.” It adds that “if Portugal’s attributes have convinced you to give it a try, here’s a tip: Begin your test drive in the capital. Lisbon is easy to reach, with direct flights from major cities around the world.”

DEBTS TO BE RECOVERED IN THE COURTS REACH THE EUR 7.2 BILION

The enforcement proceeding (debt recovery through the courts) has been considered one of the major problems in Portuguese justice and also one of the barriers to the development of the Portuguese economy. In 2013 the cases for legal collection amounted EUR 5.6 billion, regarding 201,000 enforcement proceedings lodged in the courts. Between January and April 9 this year, 38,924 cases were filed, valued at EUR. 1.6 billion. Portuguese courts have pending something like EUR 7.2 billion to collect, which corresponds to 4.3% of GDP.

I AM AN E.U. CITIZEN, HOW CAN I REGISTRATE IN PORTUGAL?

To make your registration in Portugal, you only have to apply for a Certificate of Registration of Citizen.

The Certificate of Registration of Citizen of the European Union must be requested by any citizen of the European Union, Iceland, Liechtenstein, Norway, Andorra and Switzerland, wishing to remain in Portugal for a period exceeding three months.

The request can be made to the City Hall, in person by completing a statement and delivering the necessary documents.

The application can also be made by a lawyer, as long as he has the necessary powers to act on your behalf.

I FOUND THAT THE PROPERTY I PURCHASED HAS DEFECTS, WHAT CAN I DO NOW?

Every consumer purchase is covered by a mandatory legal guarantee. As long as you are a consumer, no seller can claim otherwise.

Legally, the property must not suffer from any defect which has a negative impact on its value or which renders its regular use impossible. If these warranties are breached, the consumer can choose between repair, replacement, refund or a price reduction. However, the buyer must notify the seller of defects within one year of their discovery.

If the property is newly built, the purchaser will also benefit from a five-year warranty period. According to Art. 1225 of the Civil Code, the seller is liable for damages in respect of certain defects during five years, if he has also constructed, repaired or modified the building.