Golden Visa 2024
Residency Permit for Investment Purposes (ARI) is commonly called a Gold Visa or Golden Visa. An authorization to reside in Portugal provided to foreign investors who do not belong to the European Union, allowing them to freely circulate within the Schengen Area.
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1. ARI's Holder Benefits:
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• There is no need for a residency visa to enter Portugal.
• Residing and working in Portugal, staying for at least a period not less than 7 days in the first year and not less than 14 days in subsequent years.
• Circulating through the Schengen area without the need for a visa.
• Benefiting from family regrouping.
• Requesting Permanent Residence under the terms of the legislation in force.
• The possibility of requesting Portuguese nationality through naturalization, if other requirements of the Nationality Law (Law No. 37/81, of October 3) are fulfilled.
All national citizens of Foreign States that have exercised an investment activity, either personally or through a company incorporated in Portugal or another State of the E.U., with a permanent establishment in Portugal, that have the quantitative requirements and time requirements provided for in the applicable legislation are beneficiaries of this residency permit.
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2. Changes to Portugal's Golden Visa Program in October 2023
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In October 2023, Portugal's Golden Visa Program underwent significant changes affecting the eligible investment modalities. It is important to highlight that these changes are not retroactive and do not affect applications submitted before this date. However, from now on, the purchase of real estate and real estate-related funds are no longer valid options for obtaining the Golden Visa. Despite this, some Portuguese funds remain eligible for investments.
Eligible Investment Modalities for the Golden Visa Portugal in 2024:
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For those seeking to secure the Golden Visa in 2024, the following investment options are permitted:
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Job Creation: Creating a minimum of 10 jobs in Portugal is one way to qualify.
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Scientific Research Activities: An investment of 500,000 euros in scientific research activities is another viable option.
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Artistic Production or Cultural Heritage Preservation: Investments of 250,000 euros aimed at artistic production or the preservation of national cultural heritage are also eligible.
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Investment Funds: Investing 500,000 euros in investment funds, through the acquisition of participation units, remains a valid modality.
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Local Businesses: An investment of 500,000 euros in the establishment of a new local business or in the capital of an existing company, provided that at least 5 jobs are guaranteed or created for a minimum period of three years, is also acceptable.
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These new rules aim to diversify the types of investments and encourage areas that significantly contribute to the economic and cultural development of Portugal. For more information and detailed guidance on how to proceed with your application, please contact us via email: geral@wblex.com.
3. Submission of the application to the SEF – Foreigners and Borders Service:
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The request must be made online, through a duly mandated lawyer with the respective forensic power of attorney.
4. Mandatory documents:
1. Passport or other valid travel document;
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2. Proof of legal entry and stay in National Territory;
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3. Proof (issued up to 3 months before submission of all legally required documents) that you are covered by health protection, namely:
- Document attesting that you are covered by the National Health Service, or.
- Document that demonstrates that you are the holder of internationally recognized health service for the legal temporary period of residence requested, or that proves the option of automatic renewal of the respective policy;
4. Criminal record certificate (called as police clearance letter) - duly certified by Portuguese diplomatic or consular representation – of the country of origin, or of the country where yresidence has been established for more than one year when you do not reside in that country. This document should be translated to the Portuguese language and have been issued in the 3 months prior to the date of presentation of the documents that are legally required;
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5. Filling in the Application (through the approved model) containing the authorization to consult the Portuguese Criminal Record;
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6. Declaration under Commitment of Honor, by which the applicant declares that it will comply with the minimum quantitative and temporal requirements (5 years) of the investment activity in the National Territory;
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7. Proof of regularized contributory status by submitting a negative declaration of debt issued, with a maximum of 45 days in advance, by the Tax and Customs Authority and by Social Security or, if this is not possible, a declaration of non-existence of registration with these entities;
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8. Receipt of the ARI application fee payment.
9. Specific documents will be required, depending on the investment made.