Category: European Residency
Published: Friday, 07 October 2016 17:59
Portugal is a southern European country on the Iberian Peninsula, bordering Spain and the Atlantic Ocean.
Its Oceanside location influences many aspects of its culture – salt cod and grilled sardines are national dishes, the Algarve's beaches are a major tourist destination and much of the nation’s architecture dates to the 1500s-1800s, when Portugal had a maritime empire.
WHY CHOOSE PORTUGAL?
Portugal boasts a rich and diverse culture, Mediterranean climate, a safe and stable setting, which is an ideal location for raising families, conducting business or simply for travel. Investors find many opportunities in Portugal’s secure and fast developing market, with access to the entire Schengen zone.
- Residence visa waiver for entering Portugal;
- Live and work in Portugal;
- Visa-free travel within the Schengen member states;
- Can become a permanent resident after five years as a temporary resident;
- Can become a citizen of Portugal after one year as a permanent resident;
- Include in the process and extend benefits to family members, such as spouse or partner, dependent children and dependent parents.
Portugal’s Golden Resident Permit program is offered in accordance with the Ministry of Foreign Affairs through the Department of Consular Affairs and the Portuguese Trade and Investment Agency (AICEP).
Aimed at attracting foreign direct investments to the country, the program yields a residency permit in Portugal to non-EU investors who meet the following requirements:
- Execute the required investment in one of the available investment options. Funds must originate from abroad;
- Provide proof of no criminal record;
- The applicant’s name must not be included on the list of persons whose property is ordered to be frozen within the boundaries of the EU;
- Payment of application and processing fees where applicable;
- Enter Portugal for the first time on a valid Schengen visa;
- Meet or exceed the minimum stay requirements (7 days for the first year, 14 days for subsequent 2-year periods).
In July 2015, through Act 63/2015 and Regulatory Decree 15-A/2015 the required investment options were revised, and new ones were added. Investors now can choose from the following:
- Acquisition of property for a total value equal to or above €500,000, or
- Acquisition of property for a total value equal to or above €350,000 for properties more than 30 years old or located in urban regeneration areas designated for refurbishing.
Casa da Companhia is a rehabilitation project of a Palatial House, an emblematic building in the city of Porto built in the XVIII century. The €11.2 million project includes the development of luxury residences, amenities, a SPA club, a restaurant, a shop, and indoor and outdoor swimming pools. Only 32 fractions of €350,000 are issued to investors as co-owners of the entire property. Some of the project benefits include:
- Guaranteed 4% annual rental return, starting from the first year of operation;
- Easy and flexible exit strategy;
- 100% funds return guarantee after 5 years;
- 7 days accommodation per year;
- Great location.
For more details, please consult the project prospectus.
- Capital transfer of minimum €350,000 for investing in research activities;
- Capital transfer of minimum €250,000 for investing in the arts, or for reconstruction or refurbishment of national heritage projects;
- Capital transfer with a value equal to or above €500,000, for purchasing shares in investment funds or in venture capital.
- Creation of 10 jobs or more.