PORTUGUESE GOLDEN VISARESIDENCE PERMIT THROUGH

INVESTMENT

Ricardo da Palma Borgesricardo@rpba.pt

www.rpba.pt

Main Advantages

Resident visa exemption for first entry in Portugal;

Resident visa exemption for entry in Macau for 7 days;

Visa exemption for traveling within Schengen Area [Austria, Belgium, Czech Republic,

Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania,

Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, Switzerland];

Chance of obtaining Portuguese permanent residency (after 5 years of temporary

residence permit) and/or getting Portuguese citizenship (after 6 years of temporary

residence permit);

Opportunity for family reunification [Spouse; minor, adopted and incapacitated children of one or

both parents; children of age, dependent on both or one parent, studying in Portugal or abroad; parents

(provided they are dependent); minor siblings under custody; life partner with a registered partnership

under the law (and children). Fees for application of family members are the same as for investors].

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Investing Requirements

Capital investment of at least €1,000,000.00; or

Creation of at least 10 jobs; or

Real estate investment of at least €500,000.00; or

Real estate investment located in an urban renewal area, performing rehabilitation work of at

least €350,000.00; or

Investment in R&D activities of at least €350,000.00; or

Investment in artistic production or recovery of national cultural heritage of at least

€250,000.00; or

Capital investment in mutual funds or venture capital geared to the capitalization of small and

medium enterprises of at least €500,000.00.

20% reduction in the minimum amount invested, in almost all the investment options, when

the investment is made in areas with low GDP or with less than 100 inhabitants per km2.

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Minimum holding period for all investment requirements: 5 years (from

the date of issuance of the temporary residence permit);

Minimum length of stay: 7 days in first year, consecutive or not; 14 days in

subsequent two-year periods, consecutive or not;

Quantitative requirements must be fulfilled at the moment the application

is filed;

Where investment is conducted through companies, only the proportion

actually invested by the applicant is ascribable to him/her;

After first entry in Portugal the applicant has 90 days to register and clarify

his situation with the Immigration and Borders Service.

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Investing Requirements

Capital Investment

Includes investment on companies limited by shares and private limited

companies;

How to prove the investment?

– Statement from a financial institution operating in Portugal attesting that a

transaction of €1,000,000.00 has been performed, and the money has been

transferred into a sole account held by the applicant, or into a joint account, or

that it has been used to buy companies’ shares/quotas;

– Up-to-date certificate from the commercial registry attesting the ownership of a

company; and

– Contract through which the acquisition of shares was carried out.

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Applicants are required to register all their workers with Social Security.

How to prove the investment?

– Up-to-date certificate from Social Security; and

– The individual employment contracts.

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Job Creation

Real Estate Investment

Shared ownership of real estate is allowed as long as each co-owner invests the

minimum amount of €350,000.00 or €500,000.00, depending if the real estate is

located in an urban renewal area or not;

Where investment is conducted through companies, shareholders are entitled to

residency as long as the proportion actually invested by the applicant is ascribable to

him/her;

Promissory contracts to purchase and sell with minimum deposit amount of

€350,000.00 or €500,000.00 (depending on the investment scenario) might be

allowed to start the application procedure;

At least the minimum amount of investment must remain free from all liens and

encumbrances;

Applicant is authorized to negotiate and execute civil, commercial, agricultural and

touristic lease agreements.7

How to prove the investment?

– Final deed of purchase or promissory contract to purchase and sell the

property;

– Statement from a financial institution operating in Portugal attesting

that the transaction has been performed, and the money has been

transferred for property acquisition or payment of deposit;

– Up-to-date certificate from land registry office;

– Property land certificate; and

– Certificate of the request for the municipality to provide prior

information or the application for a permit from the municipality to

carry out the urban rehabilitation (if applicable).

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Real Estate Investment

Other Documents Needed

Certificates of absence of debts issued by the Social Securityand the Tax and Customs Authority;

Sworn statement signed by the applicant that he will complywith all investment requirements;

Valid passport;

Schengen Visa, when applicable (for first entry);

Criminal record issued by country of origin or country wherehe last resided for more than one year;

Health insurance;

Receipt of application fee (€500.00).

(all documents must be in English or Portuguese)

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How To Apply

Register online at http://ari.sef.pt, file all relevant documentsand pay the application fee; or

Show up in person at one of the Immigration and BordersService’s directorates or delegations in Portugal; or

Show up in person at a Portuguese diplomatic or consularpost abroad, where help can be found for submitting thewhole application procedure.

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Government Fees

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GOVERNMENT FEES

(approximate values)

Submission and analysis of the

application for the residence

permit or its renewal

€500.00

Issue of the residence permit for

investment purposes€5,000.00

Issue of the renewal of the

residence permit for investment

purposes

€2,500.00 /per person

(€1,250.00 / per person

under 18 years old)

Issue of the residence permit of

the investor’s relatives

€5,000.00 / per person

(€2,500.00 /per person

under 18 years old)

GOVERNMENT FEES

(approximate values)

Renewal of the residence permit of

the investor’s relatives€2,500.00 / per person

Re-issue of the investor’s residence

permit (in case the residence title is

lost)

€250.00 (€125.00 / per

person under 18 years old)

Investor’s residence permit second

re-issue (in case the first re-issue is

lost)

€250.00

Re-issue of the investor’s

residence permit in case the

identification details change, such

as address, marital status, etc.

€125.00

Portuguese Golden VisaResidence Permit Through Investment

This presentation provides a simplified overview of the relevantaspects of investing in Portugal through one of the sevendifferent types of investment scenarios that this regimeprovides, for the purpose of obtaining and renewing a temporaryresidence permit.

For a more developed information on this subject see ourInformation Note, available athttp://www.rpba.pt/index.php/eng/media/newslett/

To book a consultation or to obtain our professional fees on thissubject please e-mail us (Bruno Botelho Antunes):bruno@rpba.pt 12

Recent Tax Recognition

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Chambers & Partners – Ricardo Band 1 / RPBA Band 3 (2015)

Legal 500 – Ricardo and Pedro are Recommended Lawyers / RPBA Band 3 (2015)

World Tax – Ricardo mentioned / RPBA Tier 3 (2015)

Best Lawyers – Ricardo ranked under the "Tax Law" practice area and the "Tax Planning"subspecialty (2015)

World Transfer Pricing – Ricardo mentioned / RPBA Tier 3 (2015)

Tax Directors Handbook – Ricardo mentioned / RPBA Tier 3 (2015)

Who´s Who Legal – Ricardo ranked as a top lawyer in the Corporate Tax Lawyers directory (2013)

Acquisition International Tax Award – RPBA Portuguese Tax Law Boutique Firm of the Year(2015)

Acquisition International Legal Award – RPBA Boutique Law Firm of the Year – Portugal (2014)

Corporate Intl Magazine Legal Award – RPBA Boutique Tax Law Firm of the Year in Portugal(2014)

Global Law Experts - RPBA Boutique Tax Law Firm of the Year – Portugal (2015)

Corporate Intl - RPBA Tax Law Firm of the Year in Portugal (2014)

General warning, disclaimer, copyright and authorised use

In the preparation of this presentation, every effort has been made to offer current, correct and clearlyexpressed information. However, the said information is intended to afford general guidelines only. Thispresentation reflects information current at 21 October 2015.

This presentation is distributed with the understanding that RICARDO da PALMA BORGES & ASSOCIADOS,SOCIEDADE DE ADVOGADOS, R.L. is not responsible for the result of any actions taken on the basis ofinformation herein included, nor for any errors or omissions contained herein.

RICARDO da PALMA BORGES & ASSOCIADOS, SOCIEDADE DE ADVOGADOS, R.L. is not attempting throughthis work to render legal or tax advice and the information in this presentation should be used as a researchtool only, and not in lieu of individual professional study with respect to client legal matters.

Portuguese domestic legislation, foreign legislation, EU Directives and tax treaties have anti-abuseprovisions, and each actual client structure should be analysed taking those into account.

RICARDO da PALMA BORGES & ASSOCIADOS, SOCIEDADE DE ADVOGADOS, R.L. is the copyright owner ofthis presentation and hereby grants you a non-exclusive, non-transferable license to use this presentationsolely for your internal business, provided that you do not modify its content in any way and that you do notretain any copyright or other proprietary notices displayed on such content. You may not otherwisereproduce, modify, distribute, transmit, post or disclose the content on this presentation without RICARDOda PALMA BORGES & ASSOCIADOS, SOCIEDADE DE ADVOGADOS, R.L.’s prior written consent.

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www.rpba.pt

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