18 Jan, 2018
Golden Visa – Why and how?
Why Golden Visa? How can you apply for Golden Visa?
Why Golden Visa?
Residence Permit for Investment (ARI / Golden Visa), in force since 8 October 2012, enables outside Schengen countries nationals to obtain a temporary residence permit.
The beneficiaries of ARI / Golden Visa are able to:
- Apply for a Residence Permit directly in Portuguese territory without any other Visa needed beside the 90 days Schengen one;
- Living and working in Portugal, only having to stay in Portugal for a minimal period of 7 days in a row or 14 days interpolated;
- Visa exemption for travelling within the Schengen Area;
- Family reunification;
- Applying for permanent residence (pursuant to the Foreign Act – Act number 23/2007 of 4 July with the current wording);
- Applying for Portuguese citizenship after 6 years, by naturalization, provided all other requirements set out by the Nationality Act are fulfilled (Act number 37/81 of 3 October, with the current wording);
Eligibility – Who may apply?
- All third country citizens who intends to conduct an investment activity as an individual businessperson,
- All third country citizens who intends to conduct an investment activity through a company to be set up or already set up in Portugal or in another EU Member State;
As long as they comply to one of the following routes:
- Capital transfer with a value equal to or above 1 million Euros;
- The creation of, at least, 10 job positions;
- The purchase of real estate property with a value equal to or above 500.000,00€ (five thousand Euros);
- The purchase of real estate property, with construction dating back more than 30 years or located in urban regeneration areas, for refurbishing, for a total value equal to or above 350.000,00€ (tree hundred and fifty thousand Euros);
- Capital transfer with a value equal to or above 350.000,00€ (tree hundred and fifty thousand Euros) for investing in research activities conducted by public or private scientific research institutions involved in the national scientific or technologic system;
- Capital transfer with a value equal to or above 250.000,00€ (two hundred and fifty thousand Euros)for investing in artistic output or supporting the arts, for reconstruction or refurbishment of the national heritage, through the local and central authorities, public institutions, public corporate sector, public foundations, private foundations of public interest, networked local authorities, local corporate sector organizations, local associations and public cultural associations, pursuing activities of artistic output, and reconstruction or maintenance of the national heritage;
- Capital transfer of the amount of 350.000,00€ (tree hundred and fifty thousand Euros), or higher, for the acquisition of units of investment funds or venture capital fund of funds dedicated to the capitalisation of companies, capital injected under the Portuguese legislation, whose maturity, at the moment of the investment, is, at least, of five years and, at least, 60% of the investments is realized in commercial companies with head office in national territory;
- Capital transfer of the amount of 350.000,00€ (tree hundred and fifty thousand Euros), or higher, for constitution of a commercial society with head office in the national territory, combined with the creation of five permanent working jobs, or for the reinforcement of the share capital of a commercial society with head office in national territory, already existing, with the creation or keeping of working jobs, with a minimum of five permanent jobs, and for a minimum period of three years.
Note: Portuguese, EU and EEE nationals are not eligible for the ARI / Golden Visa scheme.
What we can do for you
- Strategy and compliance meetings, either in person or via conference call;
- Definition of the necessary strategy taking advantage of our experience to anticipate as many issues as possible considering Client current situation and main purpose.
- Providing of all information regarding needed documentation and steps required to fulfil the requirements, assisting Client needs in a 360º degrees point of view;
- Organizing the files needed for the application for the residence permit,
- Proceeds to delivery and accompanies its processing at the SEF branches all over national territory, on behalf of stakeholders;
- Provides from the beginning a full estimated cost budget to the Client;
- Due diligence to verify the condition of the property and records;
- Drawing up of contracts of sale and registration;
- Deed of purchase of property;
Via trusted service providers network services:
- Research properties with the features that were mentioned by customers;
- Property assessment;
- Fiscal and accountant counselling for companies or individual investors;
- Market assessment for business fields;
- Short Renting management;
MRA advises the support of professionals and support services companies for all necessary complementary services and commodities for each respective area, but reserves exclusively to the lawyers the representation of clients.
Under Portuguese law, only lawyers and solicitors can exercise prosecutorial professional activity, constituting crime any wrongful prosecution.
The legal advice on the issues raised by the special residence permit, for foreign investment, is also exercised exclusively by lawyers.
Our services are developed for modular packages with precise contents:
ARI01 – Request for visa to enter the country to prepare investment
Before making any investment should be presented a request for a Schengen visa at the area of residence’s consulate of the applicant.
In case of difficulty in processing the visa, it is recommended to prepare a summary investment plan and obtaining a guarantee of visa issuance before the implementation of any business.
ARI02 – Request for residence permit
Depending on the option of investment MRA provides the following services:
If the applicant wants the investment is made on behalf of a company (legal entity), MRA can make commercial companies or pursuant to previously established models and open a bank account in the name of the company formed.
The funds transferred can be applied to any type of investment, except in unlisted shares in the Portuguese Stock Exchange.
ARI05 – Family reunion
Holders of residence permits have the right to request family reunification of their family members.
Please read more in the interview me and my Colleague Dr. Joana Nunes gave to the Portuguese magazine “Pontos de Vista”. It is written in Portuguese, but we promise to translate the article soon enough to English.