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.
1. ARI's Holder Benefits:
• 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.
2. Investments that qualify for Portugal Golden Visa:
1. The transfer of capital in an amount equal to or greater than 1 million euros;
2. The creation of at least 10 jobs;
3. The acquisition of real state in an amount equal to or greater than 500 thousand euros;
4. Acquisition of real estate, whose construction has been completed for at least 30 years, or located in an urban rehabilitation area, and the performance of rehabilitation works on the acquired real estate in an overall amount of 350 thousand Euros or more;
5. Transfer of capital in an amount equal to or greater than 350 thousand euros, which is applied in research activities carried out by public or private scientific research institutions, integrated in the national scientific and technological system;
6. Transfer of capital in an amount equal to or greater than 250 thousand Euros, that is applied in an investment or as support to an artistic production, recovery or maintenance of the national cultural heritage through central and peripheral direct administration, public institutes, entities that integrate the public business sector, public foundations, private foundations with public utility status, intermunicipal entities, entities that integrate the local business sector, municipal associations and cultural public associations which pursue attributions in the area of artistic production, recovery or maintenance of the national cultural heritage.
7. Transfer of capital in an amount equal to or greater than 500 thousand Euros intended for acquiring participation in investment funds, or venture capital aimed at the capitalization of small and medium-sized companies that present the respective capitalization plan proving its feasibility.
3. Submission of the application to the SEF – Foreigners and Borders Service:
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;
2. Proof of legal entry and stay in National Territory;
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;
5. Filling in the Application (through the approved model) containing the authorization to consult the Portuguese Criminal Record;
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;
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;
8. Receipt of the ARI application fee payment.
5. Specific documents will be required, depending on the investment made, such as (by way of example):
1. Declaration from a credit institution that is registered or authorized by the Portugal Bank, attesting to the ownership of deposit accounts with a balance equal to or more than 1 million Euros, free of liens and charges, resulting from an international transfer of the amount.
2. Social Security Certificate attesting to the registration of workers, issued with a maximum advance of 45 days, and the individual employment contracts entered into.
3. Real estate deed or promissory purchase and sale agreement this real estate.
4. Certificate issued by the land registry office, issued with a maximum advance of 45 days, with the registrations, endorsements, and subscriptions in force, demonstrating ownership of real estate, free of encumbrances or charges, or a land registry certificate that has a valid temporary acquisition registration, founded on the promissory purchase and sale agreement, whenever legally feasible.
5. Property tax document, whenever legally possible.
6. Commercial registration certificate, issued with a maximum advance of 45 days, if the investment is made through a Single Shareholder Limited Liability Company, which demonstrates that the applicant is the proprietor.
7. Documentary evidence regarding the rehabilitation, in the case of real estate acquired for a value of 350 thousand Euros and over 30 years old.
8. Proof of payment made through an authorized credit institution, or that is registered in national territory with the Bank of Portugal.
6. Changes from January 1, 2022:
Decree-Law No. 14/2021 was published on February 12, 2021, amending the legal regime for the entry, stay, exit and removal of foreigners from the Portuguese national territory.
This legislation entered into force on January 1, 2022.
The legislator’s intention is to direct investments made by foreigners to areas of low population density, promoting investments in countryside territories, among other reasons.
However, the program maintained its wording unaltered until December 31, 2021, meaning any type of property may be the object of investment, including the cities of Porto and Lisbon, subject to the minimum requirements.