Obtaining a residence permit in Portugal without the obligation of permanent residence

Benefits of obtaining a residence permit in Portugal

Portugal is a developed country with a developed economy and market, politically stable, with a low crime rate and high standards of living. It offers investors and businessmen a wide range of benefits and incentives in exchange for their contribution to the country's economy.

• A residence permit is provided to the spouse and other dependents.
• The right to live, work and study in Portugal.
• Visa-free entry into the Schengen countries.
• Permanent residence after 5 years.
• Citizenship after 6 years.
• Return on investment is possible after 5 years.
• Minimum residency requirements.
• Opportunity to open a business in any EU country.
• Preferential taxation for the first 10 years (income received abroad in Portugal is not subject to taxes).
• No requirements for educational level.
• There are no requirements for the level of language proficiency, knowledge of culture and history of the country (to obtain a residence permit).
• Safe and peaceful environment.
• High level of healthcare.

Portugal Golden Visa

Successful applicants are initially granted a temporary residence permit in Portugal for one year, which can be renewed twice for two years, subject to meeting the minimum period of residence requirement. All applicants must spend at least 7 days in Portugal during the first year.

Investment options

Currently, the Portuguese residence permit program offers investors three investment options to choose from.

Real Estate Investments

Applicants must invest in one of the following options to choose from:

• Purchase of real estate with a minimum value of €500,000. It must be owned for at least 5 years.
• Purchase of real estate for major renovation with a minimum cost of €350,000. Such real estate must be built more than 30 years ago or be located in areas under reconstruction.

Investments

Investors are offered several investment options to choose from.

• Purchase of shares and interests in Portuguese companies – minimum €1,000,000.
• Investment in research and development activities – minimum €350,000.
• Investments in the restoration and preservation of national cultural heritage, as well as the support of talent - a minimum of €250,000.
• Acquisition of shares in investment funds and venture capitals for the capitalization of small and medium-sized companies - minimum €350,000.
• Investment in a new or existing Portuguese company with the creation of 5 permanent jobs for a period of at least three years - minimum €350,000.

Job creation

The main applicant must provide evidence of the creation of at least 10 jobs as a result of its activities.

Requirements and conditions

• The main applicant must not be under 18 years of age.
• Dependents can be spouses, minor children, financially dependent children and parents.
• All applicants have a clean criminal and immigration history.
• Good health and health insurance for all applicants.
• Availability of housing.
• Confirmation of availability of funds for investment.
• The source of funds must be outside Portugal.
• Investments cannot be withdrawn earlier than 5 years after investment.
• Personal presence in Portugal for all applicants.
• Residence permit or Schengen visa for citizens of countries outside the EU/EEA and Switzerland.

The procedure for obtaining a Portuguese residence permit today

The Portuguese program also adapted to the current conditions of closed borders and moved all procedures online.

Step 1. Selecting an investment option. There is no difficulty in choosing a property remotely. will provide a portfolio of real estate objects taking into account your wishes. For the ones you like the most, he will give you all the necessary documentation. And so that the investor has a complete picture of a particular object, he will film the property on video with location reference and an overview of the adjacent infrastructure.

At this stage, the company also conducts a preliminary due diligence check of the investor, namely, checks his reputational risks and industry risks. This will allow you to make a conclusion about the possibility of obtaining a residence permit in Portugal and reduces the risk of refusal.

The conditions of this program are loyal, but there are main ones that are also important to comply with - to show that the investor has no criminal record and to confirm the legality of the funds earned that participate in the program.

Step 2. Collecting all documents and concluding a remote transaction. As soon as the option is selected, an account is opened in a Portuguese bank to transfer funds when purchasing real estate and pay program fees, and a foreigner’s tax number is issued. All this is done remotely.

Accompanied by the company, a notarized power of attorney is issued for the actions of a lawyer located in Portugal on behalf of the investor. Then a complete package of documents is prepared. These are copies of passports of all applicants, a certificate of no criminal record, marriage and birth certificates, a certificate from the place of work, a certificate from the place of study for children over 18 years old, TIN.

All documents are translated into Portuguese by a certified translator, notarized and apostilled. They are then sent to a lawyer to conclude a remote sale and purchase transaction and submit an application for a residence permit to the immigration authorities.

Step 3. Submission and consideration of documents for a residence permit. Previously, before the borders were closed, you had to come to the country to submit biometric data. Today this procedure is also somewhat modified.

The collected and verified package of documents for a residence permit is submitted electronically on the portal of the Portuguese Immigration Service and at the same time a date is reserved for submitting biometrics. Already today, registration is underway for July.

Important. Previously, the waiting period for available dates for taking biometrics was two months. With the opening of borders, the company expects the number of investors to increase significantly, which in turn will increase the waiting period for a free date to five to six, or even eight months. Therefore, those who are interested in obtaining a European residence permit should hurry up.

Step 4. After the borders open, you will need to fly to Portugal to submit your biometric data. In the future, all issues related to the submission of documents and registration for the program will also be taken care of.

Step 5. Obtaining a residence permit card. Personal presence is not required. They are received by the company’s lawyer and transferred in a way convenient for the investor.

Comparison of methods for obtaining a residence permit in Portugal

A residence permit for an investor is issued for one year, then it is extended twice for two years. After five years, you can apply for permanent residence and citizenship.

When applying for citizenship, you must show documents proving, first, that the property on the basis of which the residence permit was obtained is still owned.

Second, confirm that the investor has stayed in Portugal for a total of at least 35 days over a five-year period.

Third, show the absence of a criminal record and tax arrears in Portugal.

Fourth, provide a certificate of language proficiency issued by a special licensed language school in Portugal.

Applications for citizenship are processed for up to 1 year.

EU Blue Card

The EU Blue Card is issued initially for one year and is subsequently renewed several times for two years if the holder meets certain requirements.

Requirements and conditions

In addition to financial requirements, the following conditions must be met:

• Possession of a valid visa with the right to reside or a residence permit in Portugal;
• At least a one-year work contract or a binding offer of employment in a highly qualified position. The salary level must be at least 1.2 (for some professions) or 1.5 times higher than the national average annual earnings (before taxes);
• Certificate from a regulatory body or document of professional qualifications;
• The employer must not have violations of labor laws;
• Availability of health insurance;
• Registration in the social insurance system.

Attractiveness of regions for investment

According to EY, the most attractive regions for investors in 2021 were Lisbon, Porto and Northern Portugal. They were leading by a wide margin. Then came Central Portugal, Algarve, Madeira and the Azores.

Today the picture has not changed. Lisbon and its surroundings, as well as Porto, are still popular. These cities have seen the largest increases in profitability.

As for prices, in popular Lisbon the cost per square meter averages €3,500-4,000. Although outside the capital you can find options costing €1,500 per sq.m. m. In the center of Porto, a square meter in a cozy apartment costs from €3,000. In the Algarve resort region – €2,000–2,300 sq. m. m.

Permanent residence in Portugal

Permanent residence is issued for an indefinite period, but resident status is confirmed every five years.

By participating in the Golden Visa program, you can apply for permanent residence after 5 years of legal and continuous residence in Portugal with a temporary residence permit, as long as you have sufficient funds for your stay, housing and basic knowledge of the Portuguese language.

Blue Card holders qualify for permanent residence status after 5 years of legal and continuous residence in any EU country or 2 years of legal and continuous residence in Portugal as a Blue Card holder.

Our immigration services to Portugal

Niemands provides turnkey immigration services to Portugal, including registration of a Portuguese company, obtaining residence permits, legal services, tax advice, accounting, and assistance in business development in Portugal.

The total cost of our work to obtain a residence permit is 24 thousand euros (including applicable VAT). Payments are paid in stages:

Stage 1 is paid before the start of work and includes work on registering a company, opening accounts and full legal support at all subsequent stages.

Stage 2 is paid before submitting an application for a residence permit.

Stage 3 is paid upon successful receipt of a residence permit.

The cost of our services under the family reunification program is determined case-by-case.

Portuguese citizenship

After 6 years of legal and continuous residence in Portugal, non-EU/EEA and non-Swiss nationals and their families apply for Portuguese citizenship and a European passport, subject to the following conditions:

• Having permanent residence in Portugal for 1 year before applying for citizenship.
• Proof of legal residence in Portugal.
• Fluent in Portuguese.
• Knowledge of the lifestyle, traditions and customs of Portugal.
• No criminal record and good reputation.
• No debts to the tax and other authorities.

Portugal recognizes dual citizenship, so there is no need to renounce your first citizenship when obtaining a Portuguese passport.

How to apply

You can apply for the Portugal Golden Visa 2021 as follows:

• Via the Portuguese Immigration and Borders Service's (SEF) website. This requires prior online registration on this portal.
• Through a legal representative if a properly executed power of attorney is provided.
• Apply in person or through a legal representative at your nearest regional office or local SEF office. A list of local SEF branches is available on the department's website. Before visiting the department, you must make an appointment at SEF (+35 1 214 236 625, Monday to Friday from 9:00 to 17:30).