Portugal Profile | Legal Background | Program Details | Program Advantages

 


Portugal Profile:

Portugal_SymbolSovereignty: The Portuguese Republic holds sovereignty over the Atlantic archipelagos of Azores and Madeira , which are autonomous regions of Portugal.

Location: It is located in South-Western Europe, on the Iberian Peninsula, and it is the westernmost country of mainland Europe, being bordered by the Atlantic Ocean to the west and south and by Spain to the north and east.

Government Type: Portugal is a unitary semi-presidential republic.

Interesting Facts: Portugal is considered to be the oldest country in Europe.  Has the oldest bookstore in the world. Portugal is one of the world’s top surf spots. Half the world’s cork comes from Portugal.

Population: A population of 10,487,289 and a land area of 92,391 km2.

Demographics:  Ethnic groups homogeneous Mediterranean stock; citizens of black African descent who immigrated to mainland during decolonization number less than 100,000; since 1990 East Europeans have entered Portugal . Religion  Roman Catholic, Christian, other unknown.

Economy: Portugal has become a diversified and increasingly service-based economy since joining the European Community – the EU’s predecessor – in 1986. Over the following two decades, successive governments privatized many state-controlled firms and liberalized key areas of the economy, including the financial and telecommunications sectors. Portugal is home to a number of notable leading companies with worldwide reputations, such as Grupo Portucel Soporcel, a major world player in the international paper market; Sonae Industria, the largest producer of wood-based panels in the world; Corticeira Amorim, the world leader in cork production; and Conservas Ramirez, the oldest operational canned fish producer.


Legal Background:

Flag_PortugalThe Golden Visa Programme launched by the Portuguese Authorities in October 2012 is a fast track for foreign investors from non-EU countries to obtain a fully valid residency permit in Portugal (“Golden Visa”).


Program Details:

  • New legal provisions open up the possibility of applying for a residence permit for pursuing investment activities to those   who have entered the country regularly (e.g. holders of valid Schengen Visas, or beneficiaries of Visa exemption), by transferring capital, creating  jobs or acquiring real estate, with advantageous periods of stay in Portugal.
  • The holders of Golden Residence Permit for Investment Activity have the right to family regrouping,  and may gain access to a permanent residence permit, as well as to Portuguese citizenship in accordance to the current legal provisions.
  • Applicants should be performing an investment activity for a minimum period of five years attested by a bona fide declaration signed by the applicant.
  • Capital transfer with a value equal to or above 1 million Euros
  • Applicants should provide evidence of having invested the minimum amount required, with the exception of investments in companies not listed in the Portuguese Stock Exchange.
  • Applicants should have a statement issued by a financial institution accredited in Portugal certifying that the applicant is the sole or first holder of capital; or  An up‐to‐date certificate issued by the Commercial Register, certifying that the applicant holds a share in the capital of a company. 
  • Acquisition of real estate with a value equal to or above 500 thousand Euros
  • Applicant should provide evidence of having the ownership of real estate free from any liabilities
  • Applicant should provide an up‐to‐date certificate issued by the Real Estate Registry
  • As means of evidence of compliance with tax obligations, the applicant shall deliver a declaration proving the absence of debts issued by the Inland Revenue and Customs Authority and by the Social Security. 


Program Advantages:

  • The Portuguese Residency permit allows residents to work or study in Portugal.
  • There is the opportunity for a European Passport or permanent residency in the 6th year. 
  • The holders of a Golden Residence Permit / Visa in Portugal do not require a visa to enter the Europe Schengen area. They can transit and enjoy free movement in the Schengen area for a maximum period of three months (90 days) per half-year from the date of first entry.
  • Residency extended to family members
  • Extremely low minimum stay periods  
  • Permanent Residency after 5 years
  • Citizenship after 6 years