Portugal – Golden Residence Permit (GRP)
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.
The 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
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
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
Investment Required
To obtain Portuguese residency via the updated Portugal Golden Visa program, main applicant has to choose from :
- Invest a minimum of €500,000 in Portugal-regulated funds that focus on company capitalization. Investors must ensure that at least 60% of the fund is invested in Portugal-registered businesses, with a maturity period of at least 5 years. Note that the fund should not reinvest in real estate.
- Allocate at least €500,000 to support scientific research conducted by accredited institutions within the national scientific and technological system.
- Contribute at least €250,000 to artistic production, recovery, or maintenance of the national cultural heritage through accredited institutions.
- Establish a Portuguese company, investing at least €500,000, which creates and maintains 5 new permanent jobs. Alternatively, increase the share capital of an existing Portuguese company that generates or maintains at least 5 permanent jobs for a minimum of 3 years.
- Create and uphold a business, in the form of a single-member private limited company, that generates and sustains at least 10 new permanent jobs in Portugal. No specific minimum investment is required for this option.
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.
Procedure 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).
