Portuguese Golden Visa 2022
The Portuguese Golden Visa is a residence permit for investment activities, that allows foreign citizens to obtain a temporary residence permit for investment in Portugal. This regime, which exists since 2012, has gone through recent legislative changes, which came into force on January 1st, 2022.
According to the current rules, the types of investment and respective values are as follows:
- Acquisition of real estate, commercial or touristic, with a minimum amount of € 500,000 (five hundred thousand euros) in the regions of Lisbon, Porto and Algarve and other coastal areas, or of € 400,000 (four hundred thousand euros) in areas of low-density population;
- Acquisition of residential real estate, with a minimum amount of € 500,000 (five hundred thousand euros) in some interior regions and in Madeira and Açores Islands;
- Acquisition of commercial or touristic property that has been built more than 30 years ago, or located in an urban rehabilitation area, to be renovated, in the global minimum amount of € 350,000 (three hundred and fifty thousand euros) in the regions of Lisbon, Porto and Algarve and other coastal areas, or of € 280,000 (two hundred and eighty thousand euros) in areas of low-density population, being possible to acquire, in the latter case, also a residential property;
- Direct transfer of capital in the minimum amount of € 1,500,000 (one million and five hundred thousand euros);
- Creation of at least 10 jobs (or 8 jobs, if in a low population density area);
- Investment of € 500,000 (five hundred thousand euros) in scientific research;
- Investment of € 250,000 (two hundred and fifty thousand euros) in artistic production, restoration or maintenance of cultural heritage;
- Transfer of € 500,000 (five hundred thousand euros) to open a company in Portugal, with the creation of 5 permanent jobs; or to reinforce the capital of an existing company, with the creation or maintenance of a minimum of five permanent jobs, for a minimum period of three years; and
- Finally, the transfer of € 500,000 (five hundred thousand euros) for the acquisition of participation in investment funds or venture capital funds, which complies with specific legal requirements.
We highlight this last type of investment (€ 500,000 in investment/capital venture funds) as an attractive option for those who wish to invest in Portugal, either in real estate, agriculture, innovation, startups, mature companies, among other markets, benefiting from all the Golden Visa advantages, but with no obligations related to the management and ownership of a real property. In this type of investment there are some other tax benefits (e.g. exemption of property transfer tax – about 7% – and of income tax for non-residents) and avoidance of notary fees. In addition, capital gains on the sale of participation are exempt from income taxes for non-residents.
It is also interesting to highlight that it is possible to buy real properties in Portugal with crypto coins, with no need to convert it to Euros.
In the case of acquisition of properties built more than 30 years ago or located in an urban rehabilitation area, and renovation of the property, there are solutions ready to buy available in the market, which consist of properties eligible to renovation benefits, which are marketed along with a renovation project already approved by the competent municipal authorities, in compliance with the requirements for obtaining the Golden Visa.
In any case, it is noteworthy that there is no tax on inheritance in Portugal.
Requirements for obtaining the Portuguese Golden Visa
- Carrying out one of the investments mentioned above;
- Maintenance of the investment for a minimum period of 5 years;
- Amounts must be internalized in Portugal;
- Golden Visa beneficiaries must stay in Portugal for at least seven days, consecutive or not, in the first year, and for 14 days, consecutive or not, in the subsequent two-year periods.
Golden Visa benefits
- Possibility to live and work in Portugal;
- Freedom of movement in the Schengen area;
- Possibility of acquiring Portuguese citizenship, after 5 years of residence permit;
- Extensibility to family members, through family reunification.
