GOLDEN RESIDENCE - BFVM Consulting

GOLDEN RESIDENCE PERMIT

Portuguese Golden Residency Permit

The new legislation is aimed to attract foreign investment in Portugal.

A fast track for foreign investors to obtain Residency Permits in Portugal.


PERMIT PROGRAMME - The recent changes to the legal rules on entry and stay of foreign nationals in Portugal have introduced, among other changes, a mechanism that allows foreign nationals to obtain a Portuguese residence permit if they make certain investments in the country.


GENERAL PRINCIPLES
With the introduction of this mechanism it is now possible for a temporary residence permit to be granted without the need to first obtain a residence Visa if the foreign national, personally or through a company, makes an investment that leads to the creation of at least one of the following situations in Portugal:
(A) Transfer of capital in an amount equal to or greater than € 1 000 000 00;
(B) Creation of at least 10 jobs; or
(C) Acquisition of real estate of a value equal to or greater than € 500 000 00.


GENERAL REQUIREMENT
Investments maintained for a minimum of 5 years.
Portuguese Golden Residency Permit – Property Investments – Legal Information
Acquisition of Properties above € 500,000.
Purchased after 8th October 2012.
Properties acquired free from any charges or mortgages.
Minimum stays in Portugal – 7 days first year & 14 days following periods of 2 years.
Residency Application made within a maximum of 90 days after entry in Portugal.
Residency Permit granted for an initial period of 1 year & renewed for periods of 2 years.
Possibility of permanent residency after year 5 and nationality one year later.
Bearers of Investor Residency Permits may travel freely in the Schengen area.

PORTUGUESE GOLDEN RESIDENCY PERMIT – DOCUMENTS & REQUIREMENTS
Valid Passport and Schengen Visa.
Valid travel document and Portuguese medical insurance.
Updated property documents showing ownership of property.
Proof of means of income and proof of address.
Accommodation.
Absence of criminal conviction and of interdiction to enter the country.
Absence of notice from the Portuguese Immigration Authorities or Schengen Services.
Declaration from the investor confirming compliance with the investment requirements.

PORTUGUESE GOLDEN RESIDENCY PERMIT – TYPICAL APPLICATION COSTS
Processing Fee (initial application and renewals) - € 513,75
Initial Investor Residency Permit - € 5.137,50
Renewal of Investor Residency Permit - € 2.568,75
Initial Residency Permit for Family Members - € 5.137,50
Renewal of Residency Permit for Family Members - € 2.568,75

PORTUGUESE GOLDEN RESIDENCY PERMIT – BFVM CONSULTING RECOMMENDED LEGAL SERVICES
All in one package of legal services with full support to the foreign investor covering the property acquisition and the application for investor residency permit

PROPERTY WORK:
Full legal due diligence on property.
Preparation and assistance on property acquisition, including client representation.  Receipt and holding of funds in a Lawyers client/escrow account (if required).
Property registration procedures and document services.

APPLICATION FOR GOLDEN RESIDENCY PERMIT:
Preparation and submission of initial application and required documentation Representation before the Portuguese Authorities.
Accompanying client to the Portuguese Authorities (when required).
Full assistance with renewals.

For further information contact the BFVM Consulting via email at: info@bfvm.pt