GOLDEN RESIDENCE PERMIT / GOLDEN VISA New legislation aimed at attracting foreign investment to Portugal. Fast track for foreign investors to obtain Residency Permits in Portugal. Like any other holder of a residence permit in Portugal, persons with a residence permit through an investment in Portugal may travel around the Schengen Area (Germany, Austria, Belgium, Denmark, Slovakia, Slovenia, Estonia, Spain, Finland, France, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxemburg, Malta, Norway, the Czech Republic, the Netherlands, Poland, Portugal, Sweden and Switzerland). Types of qualifying investments: Property Investments - Acquisition of real estate of a value equal to or greater than EUR 500 000. Possibility of co-ownership with each co-owner making an investment of a minimum of € 500,000 (for example: 4 investors could make a joint investment of 2M€).; Promissory Contracts of Purchase and Sale are now acceptable for the initial investor residency application, provided that a deposit of a minimum of € 500,000 is paid. In this event, the actual purchase of the property needs to be effected until the time of the first renewal of the residency permit; Total freedom to rent or lease the properties; In addition to the above, there is a significant change in the periods of mandatory stay in Portugal for the investors as these have been reduced to the following: - First year – 7 days; - Subsequent periods of 2 years – 14 days.
Posted on: Sat, 07 Sep 2013 08:16:03 +0000
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