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 nationality (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, single and studying in Portugal; parents

(provided they are dependent); minor siblings, under custody; life partner, with 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.

Minimum holding period for all three 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 put his situation in order with the

Immigration and Borders Service;

Approximate time-limit for decision after submitting all relevant documents stated by the

Government: 72 hours.3

Capital Investment and Job Creation

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 whose first holder is the applicant, or

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

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

JOB CREATION

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

How to prove the investment?

– Up-to-date certificate from Social Security.

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Real Estate Investment

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

€500,000.00;

Where investment is conducted through companies, shareholders are entitled to residency as long as

the proportion actually invested by the applicant (in the minimum amount of €500,000.00) is

ascribable to him/her;

Promissory contracts to purchase and sell with minimum deposit amount of €500,000.00 might be

allowed to start the application procedure;

At least €500,000.00 must remain free from all liens and encumbrances;

Applicant is authorized to negotiate and execute commercial, agricultural and touristic lease

agreements.

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 hasbeen performed, and the money has been transferred for property acquisition or payment ofdeposit;

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

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Other Documents Needed

Certificates of no debt issued by the Social Security and the Tax andCustoms Authority;

Sworn statement signed by the applicant that he will comply with allinvestment requirements;

Valid passport;

Schengen Visa, when applicable (for first entry before);

Criminal record issued by country of origin or country where he lastresided by 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 investors 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

and followings re-issues (in case

the first re-issue is lost)

€500.00

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 relevant aspects ofinvesting in Portugal through the purchase of real estate property with valueequal or superior to € 500.000,00 (five hundred thousand Euros), or throughthe acquisition of a business, for the purpose of obtaining and renewing atemporary residence permit.

For a more developed information on this subject see our Information Note,available at http://www.rpba.pt/index.php/eng/media/newslett/

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

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Recent Tax Recognition

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

World Transfer Pricing – Ricardo mentioned / RPBA Tier 3 (2014)

Chambers & Partners – Ricardo Band 1 / RPBA Band 3 (2014)

Legal 500 – Ricardo and Pedro are Recommended Lawyers / RPBA Band 3 (2014)

World Tax – Ricardo and Bruno mentioned / RPBA Tier 3 (2014)

Best Lawyers – Ricardo ranked under the "Tax Law" practice area and the "Tax Planning" subspecialty (2014)

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

Global Law Experts - RPBA Portuguese Corporate Tax Law Firm of the Year (2014 / 2013)

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

Tax Directors Handbook – Ricardo mentioned / RPBA Tier 4 (2014)

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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 27 October 2014.

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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