Portugal is one of the 26 European member states of the Schengen Area. Traditionally its economy relied on manufacturing and cork exports, though it is now moving towards business services. The country also enjoys a robust tourism industry. Resident status allows individuals visa-free travel in Schengen Member States.
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The Residence Permit for Investment (ARI or Golden Visa) was launched in 2012 to allow non-EU nationals to obtain a residence permit through (real estate) property investment. Several options are available to applicants under the Golden Visa. Successful applicants must comply with a holding period of at least five years (during which the Golden Visa is renewable three times in a five-year period). After a sixth year, applicants may apply for citizenship. The Program requires no maximum stay, but it does require a minimum stay of seven (consecutive or non-consecutive) days during year one and 14 days each during years two to three, and three to four.
Applicants must have a clean criminal record (no conviction carrying a punishment of more than one year imprisonment) and provide proof by producing a criminal-record certificate obtained from their home country or country of residence for at least one year. Applicants and their family members must also hold private health insurance that is valid in Portugal.
To obtain a residence permit, applicants must choose one of the following options:
The process typically takes a few months to conclude. Investment in financial assets takes the shortest time to complete, while real estate investment may take longer.
The application process comprises the following steps:
|Real estate investment||EUR 500 000|
|Real estate investment in urban regeneration||EUR 350 000|
|Capital transfer: Financial||EUR 1 million|
|Capital transfer: Scientific research||EUR 350 000|
|Capital transfer: Arts||EUR 250 000|
|Capital transfer: Investment/Venture capital||EUR 500 000|