In 1139, the Kingdom of Portugal was officially declared, and the country remained a monarchy until 1910. Today, Portugal is considered a unitary semi-presidential constitutional republic.
Portugal’s current constitution was adopted in 1976 following the Carnation Revolution and has remained largely unchanged—with the exception of a few amendments—ever since. However, one of the most significant amendments concerns Portugal’s Golden Residence Permit Program.
In 2012, Act 23/2007 was amended by Act 29/2012 to establish the conditions and procedures for the entry, stay, exit, and removal of foreign citizens from Portuguese territory as well as long-term resident status. Or in other words, the Portuguese Golden Residence Permit Program was established.
The Golden Visa program applies to all foreign nationals who are not currently Portuguese, EU, or EEE nationals. There are several ways to be eligible:
1. A capital transfer with a value of a minimum of €1,000,000;
2. The creation of at least 10 jobs;
3. The purchase of real estate/property of a value of at least €500,000;
4. The purchase of real estate/property with construction dating back at least 30 years or located in urban regeneration areas for refurbishing for a total value of at least €350,000;
5. A capital transfer of at least €350,000 for investing in research activities conducted by public of private scientific research institutions involved in the national scientific or technologic system;
6. A capital transfer of at least €250,000 for investing in artistic output or supporting the arts, for reconstruction of refurbishment of national heritage, through 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;
7. A capital transfer of at least €500,000 for purchasing shares in investment funds or in venture capital geared to capitalize small and medium companies that, in turn, must present a feasible capitalization plan.
The program is administered by Immigration and Border Services and has been hugely successful since it was established.
For full program details, visit the the Immigration and Border Services webpage for the Golden Residence Permit Program or contact us for a free consultation.