Residency in Portugal

This established EU country has a rapidly growing economy due to a combination of investor-friendly government policies, a booming real estate market, and a resurgent tourist industry.

Portugal is one of the oldest countries in Europe, has an excellent reputation, a very high Human Development Index ranking, and a high level of security, making it one of the world’s most globalized and peaceful nations. Portugal is a member of the EU and Europe’s Schengen Area and has been using the euro as its currency since 2002. Portuguese is the official language, but English is also widely spoken, particularly by younger generations and especially in the tourist regions.

While Portugal is shifting towards offering business-oriented services, a third of its economy remains in manufacturing. It is also the world’s largest supplier of cork and enjoys the benefits of a strong tourism industry. With little of its own hydrocarbon energy resources, Portugal is committed to creating renewable sources of energy such as hydro, wind, and solar power. Over 40% of the energy created in Portugal is from such resources, including the most efficient wind tower in the world.

Benefits

  • Visa-free travel within Europe’s Schengen Area
  • Eligibility to apply for citizenship after five years as a legal resident while keeping other citizenships
  • Excellent international and Portuguese schools and universities
  • International quality health care clinics and hospitals
  • High quality of life and low crime rate

Qualification Criteria and Requirements

The Ministry of Foreign Affairs set forth the requirements through the Department of Consular Affairs and the Portuguese Trade and Investment Agency (AICEP) and Portugal's Golden Resident Permit Program was created in accordance with those requirements.

In order to attract high net investors to the region, Portugal is now offering residency permit to non-EU citizens. The applicants must fulfill one of the available investment options and also meet the following criteria:

  1. Invest in one of the available investment options with funds originating from abroad;
  2. Have no criminal record;
  3. Fulfill the minimum stay requirements (7 days for the first year, 14 days for subsequent 2-year periods).
  4. The first-time entry into Portugal should be on Schengen visa;
  5. 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;
  6. Must pay the applicable processing and due diligence fees.

Investment Options

  1. Acquisition of property for a total value equal to or above €500,000
  2. 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, or
  3. Acquisition of property fitting any of the above requirements with a 20% reduction on the minimum amount of investment, if purchased in a low-density population area (€280,000 or €400,000}.
  4. Capital transfer of minimum €350,000 for purchasing shares in investment funds, investment in venture capital, set-up of a commercial society with the creation of 5 jobs or capitalization of existing national companies with creation or maintenance of 5 jobs.
  5. Capital transfer of a minimum of €250,000 for investing in the arts, or for reconstruction or refurbishment of national heritage projects;
  6. Capital transfer with a value equal to or above €500,000 for purchasing shares in investment funds or in venture capital.
  7. Creation of more than 9 jobs.

Either by investing in a property with residential purposes or by becoming a co-owner of big-dimensioned projects for refurbishment, NIMARIA will assist with:

  • Planned annual rental return from inception of the investment or from the time refurbishing is completed, when applicable;
  • Extensive exit strategy;
  • 100% funds return guarantee after obtaining permanent residency or citizenship when this option is offered by developer
  • 7 days' accommodation per year;

Application Fees and Processing

NIMARIA consulting fees will be calculated after taking into account the country of origin, the number of applicants, the number of dependents in the family, residence and other retained services. Our fees will also include all the service fees until citizenship application including project visits. The advisory fees will be non-refundable. Although applying for residency and permanent citizenship is not NIMARIA's scope of work, we can guide and advise our clients at each stage of citizenship. Translation, notarization and authentication fees at all stages of the process are the responsibility of the investor. The application fees charged by Portuguese government and NIMARIA is subject to change at any time during the process. The overall fees will depend on the complexity of the case and the number of dependents.

The following 7 steps easily break down the process of application submission. Each step must be completed before moving on to the next one:

  • STEP 1: Visit the embassy of Portugal to attest the required list of documents or visit Portugal ahead.
  • STEP 2: Transfer of investment amount and applicable fees. All due diligence and applicable fees should be paid at this step.
  • STEP 3: Submission of investment-related documents and payment for Golden Visa application online (done by law firm through Power of Attorney).
  • STEP 4: Travel to Portugal for 2 business days to collect biometric data.
  • STEP 5: Application approval and payment of temporary permit granting fees (done by law firm through Power of Attorney).
  • STEP 6: Application for permanent residence after completing 5 years as a temporary resident.
  • STEP 7: Application for citizenship of Portugal can be lodged after having met all the requirements.

Portugal Highly Qualified Activity Visa

Co-created with government authorities, the Portugal ‘Highly Qualified Activity’ Visa (Start -UP) is designed specifically for accomplished transnational business professionals.

With freedom to travel as needed and priority visa processing, business executives can launch an innovative R&D driven venture in Portugal, within the care of Empowered Startup’s transnational incubation program.

  • Payment of EUR 175,000
  • 3 years concierge incubation services
  • Your own EU company and bank account, with credit history
  • Clear path to eligibility for permanent residency or citizenship

Through partnerships with key actors, including public bodies and top tier research facilities, with help of our partner we can accelerate and incubate innovative international business ideas. We work with driven entrepreneurial professionals to create outstanding start-ups with the potential to grow from concept to success in 3 to 5 countries within 5 years, launched from a strong base in Portugal.

The start up ecosystem in Portugal is a high-potential marketplace driven by keen collaborators. The climate is business-friendly, knowledge workers are readily available, and key actors are committed to success. As a gateway to continental Europe, with strong ties to Asia, Africa and South America, it is a smart launch pad for businesses with the potential for international expansion.

Three clear steps:

  1. Meet with Program Intake Committee via videoconference: Ddiscuss your success metrics for your innovative EU start up
  2. Secure your Highly Qualified Activity residency visa: Provide oversight as Empowered Startups lays the groundwork for your venture
  3. Enjoy your options: Provide strategic direction to your venture’s development

Our clients rely on us for advice on international residence and citizenship matters.

To see how the combined expertise and global reach of our specialists could also work for you, please Contact Us for further information or to arrange a private consultation.