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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.

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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.”

WHAT IS THE MOST COMMON FORM OF SECURITY TAKEN OVER REAL ESTATE IN PORTUGAL?

There is three standard security taken over real estate: voluntary mortgage, retention of title and seizure. Concerning mortgage, it should be formalised through public deed or by a certified private document. To produce its legal effects, a mortgage must be registered at the land registry office. As for the retention of title, it should be incorporated using a duly authenticated contract or public deed and is also subject to registration at the land registry office so it can be used against any third parties. Finally, a seizure is done through a lawsuit and is not subject to specific conditions. The mortgage is by far the most widely used security.

WHAT IS THE NIF NUMBER?

"NIF" stands for Número de Identificação Fiscal Tax (tax identification number). It is a 9-digit unique personal identifier used for tax purposes. This tax number is needed for most relevant legal acts carried out in Portugal, such as the opening of a bank account or the purchase of a property. You can ask for a NIF in person at any Portuguese tax office, or other designated offices. The number itself is issued on the spot, totally free of charge. However, there may be fees involved if you ask for an official card with the NIF or if you need a fiscal representative. You need a representative when you are not a Portugal or European Union resident. The tax representative is responsible for complying with the tax obligations of the represented person and can be a natural person or a company.  Anyone with a fixed residence in Portugal who accepts the responsibility is eligible, regardless of nationality, so you could ask a friend or someone who knows you in Portugal. It is also

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.

GARANTEES AND SEGURITIES IN PORTUGAL

In an open economy model, it is more important than ever to know what the legal risks are and how to minimise and overcome them. The better you know, the better you perform. In this article, we will summarise a clear and updated understanding of law and practice regarding guarantees. Guarantees and securities As a general rule, the debtor is liable in respect of his obligations. This rule affects all the debtor's assets, including future ones. The breach of an obligation, such as a payment, means that the debtor is liable to pay compensation. Personal guarantees By the contract, the parties may request additional guarantees besides existing assets to ensure the fulfilment of the obligation. One of these guarantees is "fiança." By entering into this kind of guarantee, a guarantor undertakes to pay on behalf of a third party in the event of this party not complying with the obligation of paying. The obligation depends on a principal debt and cannot exist without a val