GOLDEN VISA Golden residence permit programme New legal provisions open up the possibility of applying for a residence permit for pursuing investment activities to those who have entered the country regularly (v.g. holders of valid Schengen Visas, or beneficiaries of Visa exemption), by transferring capital, creating jobs or acquiring real estate. The holders of Golden Residence Permits for Investment Activity have the right to family regrouping, and may gain access to a permanent residence permit, as well as to Portuguese citizenship in accordance to the current legal provisions. Who can request a residence permit for investment activities? Third country nationals who either carry out investment activities personally or through a company that lead to, as a rule, at least one of the following situations in Portuguese territory for a minimum period of five years: - The acquisition of real estate with a value of 500 thousand Euros or more - Transfer of capital worth 1 million Euros or more (including investments in company stocks or shares) - The creation of at least 10 jobs How should a request to acquire real estate be filled in? - By demonstrating full ownership of real estate through the presentation of property transfer deed or a property purchase undertaking. These documents should include a declaration from a financial institution, authorised to carry out activities in Portuguese territory, stating that a transfer of 500 thousand Euros or more has effectively been made for its acquisition, or as a signal of a purchase undertaking. And - By submitting an up-to-date certificate from the property register, which, in the case of a promissory contract, provided that it is legally viable, should always include the respective entry. Property may: - be acquired under a co-ownership scheme, provided that each co-owner invests 500 thousand Euros or more, or through a promissory sale-purchase agreement indicating an amount of 500 thousand Euros or more; the respective transfer deed should be submitted before requesting the renewal of the residency permit for investors; - be encumbered starting from a threshold in excess of 500 thousand Euros; - be leased and exploited for commercial, agricultural or tourism purposes. Family Reunification The holders of Golden Residence Permits for Investment Activity have the right to family regrouping, and may gain access to a permanent residence permit, as well as to Portuguese citizenship in accordance to the current legal provisions. Minimum permanent residency periods For the purposes of renewing a residency permit, you may have to show that you have resided in Portuguese territory for a minimum period of 7 days, either consecutively or non-consecutively, during the first year, and 14 days in subsequent two year periods. Source: AICEP Contact: fernando.mendes@axis10
Posted on: Sat, 29 Nov 2014 13:41:22 +0000
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