Portugal – Golden Residence Permit (GRP)

Portugal is the Westernmost Country in Europe. Portugal is considered one of the most globalized and peaceful Nations throughout the World and has a very low crime rate. Portugal also boasts a thriving tourism sector, although Portuguese is the official Language English is widely spoken due to it’s thriving tourism sector. Portugal is a Schengen and European Union Member and has used the Euro as it’s official currency since 2002.

Portugal introduced the Golden Residence Permit (GRP) in 2012 and it is one of the longest standing EU Residence by Investment Programs in existence. The GRP requires an individual to make an investment into Portugal using one of three investment options. Once 5 years on valid Residence has been realised the main applicant and dependents would then become eligible to apply for Portuguese Citizenship.

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Portugal – Golden Residence Permit (GRP)

Portugal is the Westernmost Country in Europe. Portugal is considered one of the most globalized and peaceful Nations throughout the World and has a very low crime rate. Portugal also boasts a thriving tourism sector, although Portuguese is the official Language English is widely spoken due to it’s thriving tourism sector. Portugal is a Schengen and European Union Member and has used the Euro as it’s official currency since 2002.

Portugal introduced the Golden Residence Permit (GRP) in 2012 and it is one of the longest standing EU Residence by Investment Programs in existence. The GRP requires an individual to make an investment into Portugal using one of three investment options. Once 5 years on valid Residence has been realised the main applicant and dependents would then become eligible to apply for Portuguese Citizenship.

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Eligibility Criteria

  • The main applicant must be over the age of 18
  • Applicant must be a non EEA or Swiss National
  • Main applicant must show source of funds and pass Due Diligence regulations
  • Main applicant must be willing to invest in Portugal for a minimum of 5 years

Dependants

  • The spouse of the main applicant
  • Child or adopted child of main applicant or of their spouse who are under 27 years old. Child Dependents must be fully financially dependent on the main applicant, be unmarried and enrolled in active student studies.
  • Adult/Parental dependants of the main applicant under certain provisions

Process and Timeframe

immVest International will strive to ensure that the best option is arrived at prior to engaging. We will then perform an initial due diligence both internally and with our Country specific Delivery Office. Our Client Agreement will then be signed, and relevant Professional Fees will then be payable. Our immVest International Processing office together with our Country specific Delivery Office will begin full preparation on the application prior to submission and visitation (if required).

Step 1: Client Dependent

Client selects investment option

Client Completes initial Due Diligence

Client Agreement is signed, and Professional Fees are paid

Copies of all applicants Passports are returned along with Client Agreement

Dates of visit and preparation of itinerary prepared

If real estate is the investment option and introduction to immVest International Property partners will be arranged

Step 2: 1-10 days

Visit Portugal for legal requirements

Meeting with legal representatives in Portugal for required documentation and certification

Presentation of chosen investment option (ie. Property or Fund Managers)

Tax planning session if required

Obtain Portuguese taxpayer number if required

Open Portuguese bank account

Confirmation and signing of relevant investment documentation (Property acquisition, investment fund etc)

Step 3: 1-3 months

Preparation of documentation for submission

Completion of investment documentation

Preparation of personal documentation

Translation into Portuguese of required documentation

Upload required documentation onto Portugal Immigration and Border Services platform

Payment of Government processing fee for main applicant

Application accepted by Portugal Immigration

Upload required documentation for dependents (if applicable) onto Portugal Immigration and Border Services platform

Payment of Government Processing fees for dependents if applicable

Dependent applications accepted

Client will then be required to book second visit to Portugal for required biometrics.

Step 4: 1-5 days

Second visit to Portugal to complete application

Attend pre booked appointment at Portugal Immigration and Border Services to complete biometrics and submit forms as originals

Step 5: 4-8 months

Await decision from the Portuguese Government

Step 6 : 4-6 weeks

Conclude initial residence application

Receive approval notification from Portuguese Government

Payment of Residence Cards to be issued

Residence Cards will then be issued

immVest International will collect and send Residence Cards directly to the client

Investment Required

The Portugal GRP Program is a Residence by Investment Program. This grants applicants and dependents the ability to move freely within the Schengen areas, it also only requires an average residence of 7 days per year over the 5-year period leading to Permanent Residence and Citizenship. The options around the specific investment vehicles are below.

  • Capital Transfer
    1. Capital transfer of a minimum of EUR 1 million into a Portuguese bank account or specifically approved investment
      options
    2. EUR 350,000 for research activities of public or private entities that are part of the national scientific and technological system*
    3. EUR 250,000 in support of artistic production or in the recovery or maintenance of the national cultural heritage*
    4. EUR 350,000 for the acquisition of units of investment funds or venture capital funds committed to the capitalization of companies incorporated under the Portuguese law, with a maturity of at least five years and with at least 60% of the investment portfolio in companies with a head office in the national territory
  • Property Acquisition
    1. A real estate purchase with a minimum value of EUR 500,000*
    2. A real estate purchase with a minimum value of EUR 350,000 for the refurbishment of properties older than 30 years or in an area of urban regeneration, including the cost of renovations*
  • Business
    1. Creation of a minimum of 10 new jobs*
    2. EUR 350,000 for the incorporation or increase of the share capital of a company registered in Portugal, creating or
      maintaining a minimum of five permanent jobs, for a period of three years

Benefits

  • Visa-free travel in Europe’s Schengen Area; right to live, work, and study in Portugal
  • Eligibility to apply for citizenship after five years as a legal resident while keeping other citizenship(s)
  • Low physical presence requirement (seven days during the first year of residence and 14 days for the two subsequent years)
  • High quality of life, local cuisine and wines, rich culture, mild climate and a high level of security
  • Citizenship is passed on to future generations
  • Attractive tax incentives

immVest International is able to facilitate the entire process from inception through to granting of Permanent Residence and Citizenship. We have found the Property sector to be a very popular one for potential investors, due to investors gaining consistently high returns and often choosing to spend more than the required 7 days a year in Portugal.

We have also seen a recent increase in the EUR 350,000 manged investment fund/venture capital option. The lower capital requirement together with consistent returns and a far lighter administration requirement continues to increase this investment option.

Let's Connect

Our team of experts is available to discuss any queries you may have and guide you through this process. Get in touch with us to set up a meeting at your convenience.