Do you want to acquire a residence permit in Portugal through an investment? Find out the right residence option for you.
Whether you have already made an investment in your country or intend to invest in Portugal, Law no. 23/2007 of July 4 (Law of Entry, Stay, Exit and Removal of Foreigners of National Territory), presents two options for those who want to obtain a residence permit in Portugal, thus allowing free access to the Schengen area and to reside in a European Union country:
– A residence permit for holders of income from the country of origin;
– The residence permit for investment activity (Golden Visa).
Thus, the Law allows us to obtain a residence permit in order to be able to live in Portugal benefiting from the various benefits, such as access to one of the best education systems in the world, access to one of the best national health systems , to live in a peaceful country with political, economic and social stability, to have access to all the benefits associated with the European Union and the Schengen area, such as the free movement of people and goods. This can be done through several mechanisms, and with this small article, and comparison we intend to make known and confront two of the best and most successful programs that exist in Portugal, the so-called “D7″ Investor / Refugee Visa vs. ARI program ” Golden Visa “.
To better understand the differences between the two, we present a comparison between the two types of residence permits, pointing out the main differences:
| THE “PASSIVE INCOME VISA”
· For someone who intends to live in Portugal and has a reasonable net regular passive income. · This residence permit does not preclude the holder from having a professional activity in Portugal. · The application for this type of permit must be preceded by a special visa applied for at a Portuguese Consulate by the main applicant. Once this visa is obtained, the main applicant should then apply in Portugal for the residence permit. · His/her immediate family members can also apply to a residence permit under the “family reunification” rules, with no need for them to previously apply for a special visa (i.e. they may enter Portugal as tourists). · The holder of a D7 residence permit cannot be away from Portugal for more than 6 consecutive months or 8 non-consecutive months during the validity of each permit, except in the case of duly justified personal or professional reasons. · The Government fees for this type of residence permit are not significant (between €45.90 and €276.80 per applicant). ·Immigration Services has a discretionary power about the approval of your application. · Possibility to become a non-habitual resident, which benefits from a special Tax regime (for a period of 10-year benefit of a low or exemption of taxation) |
THE GOLDEN VISA PROGRAM
· For someone who intends to make an investment in Portugal of €1.000.000 / €500.000 or €350.000 or €250.000. · This residence permit does not preclude the investor from having a professional activity in Portugal. · There is no need for a special visa to apply for this type of residence, you may enter Portugal as tourists. · His/her immediate family members can also apply to a residence permit under the “family reunification” rules. · The holder of a Golden Visa residence permit need to spend at least 7 days in Portugal, whether or not consecutive in the first year and for the renewing of the residents spend at least 14 days in Portugal during every two years. · An application fee of €520.40 per initial and renewal application (€81.10 in the case of each investor’s family member applicant), a visa initial issue fee of €5,202.60 per visa holder; and a visa renewal fee at the end of years 1 and 3 of €2,601.30 per visa holder. ·Immigration Services must approve your application if you meet all the requirements. · Pay tax only on the income earned in Portugal (if you stay in Portugal less than 183 days per year). |
We, therefore, conclude that the choice of the best type of residence permit will depend on the answer to two questions:
Whether or not to live in Portugal and whether or not to invest in Portuguese territory.
If you do not wish to reside in Portugal you will have to opt for the Golden Visa option.
If you do not wish to invest in Portugal, and you receive an income from your country of origin, you must necessarily opt for the residence permit for income holders. Being that in this option will have to be resident here.
This article is for informational purposes only and is not intended to be exhaustive in relation to the matters covered here. However, if you are still not completely clear and continue with doubts or if you want our help, do not hesitate to contact us through geral@fslegal.pt.