Portugal

About Portugal

Portugal boasts a rich historical and architectural heritage. Lying on the Atlantic Ocean, Portugal offers investors a lifetime opportunity to invest one of the most sought after countries in which to reside. As a member of the European Union, the Portugal Golden Visa Program offers open access to live, work, travel and study in Europe, and the opportunity to avail in the country’s healthcare system.

Important features:

  • The Portugal Golden Visa Program is a legal naturalization program based on the law of inviting foreign investors from non-EU countries to obtain a fully valid residency permit in Portugal. The Program has been in effect since 2007.
  • The Portuguese Republic is a semi-presidential republic whereby the Government is headed by the presidentially appointed Prime Minister.
  • The capital Lisbon is the nation’s largest city. It is continental Europe’s westernmost capital city and its importance lies in finance, commerce, media, entertainment, arts, international trade, education and tourism.
  • Portugal has 6 international airports with flights serving all the major airports around the globe.
  • Portugal is mainly characterized by a warm temperate, Mediterranean climate with a distinct wet season in winter.
  • It is a member of the United Nations, European Union, Eurozone, OECD, NATO, WTO, and Schengen Area.
  • The Portuguese legal system is part of the civil law legal system, also called the continental family legal system.
  • The Portuguese currency is the euro (€) and the country was one of the original member states of the Eurozone.
  • The country trades mainly within the European Union, the US, Canada and Asia and above all South America and Africa where the former Portuguese colonies of Brazil and Angola are major trading partners.

Legal Basis

Order n. 1661-A/2013 Act n. 29/2012 of August 9, amending Act n. 23/2007 of July 4, laying down the legal framework for the entry, permanence and exit of foreigners from national territory, has provided for a new special legal resident status for the conduct of investment activities in the country.

This amendment allows for shortened residency requirements of 7 days per year for 6 years at the end of which the applicant and family can apply for Citizenship.

Portugal Golden Visa Program

The Portugal Golden Visa Program was developed by the Portuguese Ministry of Foreign Affairs in October 2012, to promote foreign investment and to provide opportunities for non EU citizens to live and travel within a secure and stable EU country.

Foreign investors are invited to pursue investment activities in Portugal by acquiring real estate, in return for a five year Residence Permit that allows its holders to work, live, study and travel visa free in Schengen countries.

The investor first obtains a Schengen Visa valid for one year under the Portugal Golden Visa Program. After one year, a Residence permit is issued and this is then renewed at 3 and 5 years respectively. After 5 years the investor may then apply for a Permanent Residence Permit. The investor may apply for Citizenship and passport after 6 years of residency in Portugal.

If you’re interested in securing Portuguese Residency, let us guide you through the Portugal Golden Visa Program. We recommend protecting the future of your family by having a second passport.

Portugal’s Program and Fees

The Portugal Residence Programme or Golden Residence Permit was amended in the summer of 2012 making it easier for other nationalities to gain Portuguese residency. The legislation was further improved with changes effective from 29th January 2013. It now offers a shortened residency requirement of seven days per year for six years during the temporary residency period, at the end of which the applicant and any family members can apply for citizenship. Investment is in real estate with the option to purchase commercial or residential property in either Lisbon or the Algarve. A minimum real estate investment of €500,000 is required.

Portugal boasts an excellent reputation, with a very high Human Development Index ranking, and is considered one of the world’s most globalized and peaceful nations with a great quality of life. It is among the oldest countries in Europe with a rich history, a lively culture, stunning beaches and beautiful countryside. Portugal is a full member of the European Union.

The tax burden on residents of Portugal is one of the lowest in the European Union, both on corporate and personal levels. A Portuguese residence permit offers visa-free access to all Schengen States. The country’s compliance standards and due diligence are comparably high.

Portugal Benefits

  • Residency of a European Union member country.
  • EU Residency in 45 days, citizenship after 6 years.
  • Total freedom to move in the Schengen countries.
  • Only 7 days visit a year in Portugal, one of the lowest of all EU countries.
  • No need to renounce your current citizenship(s).
  • Ranked 6th best passport in the world for visa free travel after UK and US but without 6 months annual residency requirements.

Steps and Procedure

Step 1
Citizenship Quickly Management Consultancy will pre-screen your passport copy for Government pre-approval and require a down payment of Professional fees to open your application.

Step 2
Citizenship Quickly Management Consultancy will assist and advise you with the collection of the documents required in the checklist. Our legal team will assist in the translation of documents to Portuguese and legalization of the documents at the Portuguese Consulate.

Step 3
The investor will then visit Portugal in order to make the necessary investment in real estate.During this visit the investor will visit Immigration Services for the purposes of leaving fingerprints, pictures and biometric data.

Step 4
Once the investor returns to his home country, the funds required for the purchase of the property should be transferred to his/her bank account in Portugal.

Step 5
Once the purchase of the property is completed and the registration is done (which generally takes between 3 to 5 working days), the documents are submitted for the residency application together with the residency processing fees that will be paid to Immigration Services.

Step 6
Once the residency application is submitted, the Immigration Services Department will generally approve it within 3 to 4 weeks.

Step 7
After payment of the processing fee, the Immigration Services will start processing the residency cards. This usually takes between 3 -4 weeks. Once the cards are issued, they will be sent by courier to Citizenship Quickly Management Consultancy.

Step 8
Visit Portugal for 1 week a year for 5 years to fulfill residency requirement.

 

Portugal Costs

1) Upfront One-Time costs: Citizenship Quickly Management Consultancy’s professional Fees

Property Purchase of € 500,000

Plus the following associated purchase costs:

Property Transfer Tax (IMT) 6%

Stamp Duty 0.8%

Public Deed: Approximately € 300 per acquisition

Registry costs: € 225 per property

Principal Process Analysis: € 513,75

Family process analysis: € 80,04

2) On-going costs during period of EU Permanent Residency (SEF Authorities) Costs:

ARI Permanent Residency card per Family Member: € 5,137.50

ARI Permanent residency card renewal per Family Member (12-36 months): € 2,568.75 ARI

Permanent residency card renewal per Family Member (36-60 months): € 2,568.75 ARI

Permanent Residency 60-84 months: €2,568.75 (citizenship issued before expiry).

Property Tax (IMI) – 0.8% of the value of the property, decreasing annually.

Visa Free Countries

Visa Free and Visa Free on Arrival Countries

Albania Latvia
Andorra Lebanon
Anguilla Lesotho
Antigua & Barbuda Liechtenstein
Argentina Lithuania
Armenia Luxembourg
Aruba Macedonia
Austria Madagascar
Bahamas Malawi
Bangladesh Malaysia
Barbados Maldives
Belgium Malta
Belize Mauritania
Bermuda Mauritius
Bolivia Mayotte
Bosnia Micronesia
Botswana Monaco
Brazil Montserrat
Bulgaria Mozambique
Cambodia Nauru
Cape Verde Nepal
Cayman Islands Netherlands
Chile New Caledonia
Colombia Nicaragua
Comoros Niue
Cook Island Norway
Costa Rica Palau
Croatia Panama
Cuba Peru
Curacao Philippines
Cyprus Poland
Czech Republic Portugal
Denmark Reunion
Djibouti Romania
Dom. Republic Samoa
Dominica San Marino
Ecuador Seychelles
Egypt Singapore
El Salvador Slovakia
Estonia Slovenia
Fiji Solomon Islands
Finland Somalia
France South Korea
French Guiana Spain
French Polynesia St. Eustatius & Saba
Gambia St. Lucia
Germany St. Maarten
Gibraltar St. Vincent & The Grenadines
Greece Suriname
Grenada Sweden
Guatemala Switzerland
Guinea-Bissau Tanzania
Haiti Timor-Leste
Honduras Togo
Hong Kong (SAR China) Tonga
Hungary Trinidad and Tobago
Iceland Tunisia
Iran Turkey
Ireland (Rep.) Turks and Caicos Isl.
Israel Tuvalu
Italy Uganda
Jamaica United Kingdom
Jordan Vanuatu
Kenya Venezuela
Kiribati Virgin Islands (British)
Laos Zambia
Latvia Zimbabwe