The Portugal ARI Golden Residency was launched on 8 October 2012. The programme framework is regulated under Law 23/2007 of 4 July;, Law 29/2012 of 9 August;, Law 63/2015 of 30 June; and Regulatory Decree 15-A/2015 of 2 September.View Agents
Mobility : Access to Schengen Area
Minimum Capital Outlay : € 255,800
Application Processing Time : ~ 5 Months
Physical Presence : Physical presence in Portugal for a period of 7 or more days in the first year, and 14 or more days in following years.
Minimum Criteria : Choice of Real Estate, Capital Investment or Investment Project
Pre-requisites : Main applicant must be at least 18 years of age;Portuguese, EU and EEE nationals are not eligible;Absence of any debts owed to Portuguese Tax Authorities and the Portuguese Social Security;
Portugal is in the southwestern part of Europe, and has a population of approximately 10 million. Its capital is Lisbon, and the official language spoken is Portuguese. Portuguese is spoken by over 220 million worldwide. Portugal uses the Euro as its currency.
Portugal is known to have the warmest winters in continental Europe. Portugal’s economy has rapidly expended in the last decade to reach parity with the other European nations. The quality of its labour has attracted many companies to its shores due to the relatively low wages. Lisbon has become a growing power in the start-up ecosystem.
Portugal has become a gateway to Europe for many around the world, especially Brazilians. The favourable tax regime has been key to attracting flocks of foreign investors to Portugal.
Benefits of the Portugal Residence Permit for Investment Activity
The Portugal Residence permit for Investment Activity (ARI) provides applicants with temporary residence in Portugal for a cumulative period of 5 years. After 5 years of temporary residence, applicants may be able to apply for permanent residence or Citizenship.
Portugal offers a great standard of living and some of the best weather in Europe. The cost of living in Lisbon is rather low compared to other European capitals, and university tuition fees are low for foreigners. You will also be able to add your parents as dependents on your application.
Portugal offers foreign residents the possibility of registering as non-domiciled. As a non-domiciled, you are not liable to pay taxes on income generated outside of Portugal.
To apply for temporary residence through the Portuguese ARI, one of the following commitments is required and needs to be maintained for 5 years.
The following routes may benefit from a 20% reduction in the minimum investment amount if the investment is made in sparsely populated areas;
A further route is possible, which does not benefit from the 20% reduction:
Government-related administrative fees are approximately EUR 5,802 for a single main applicant, EUR 5,274.40 for every adult dependent, and EUR 2637.20 for minor dependents. The permit will need to be renewed twice during the 5-year period. Renewal fees are EUR 2637.20 for adults and EUR 1,318.60 for minors.
This means that the total capital outlay for a single applicant would amount to approximately EUR 205,802. This indicative amount excludes service providers’ professional fees and any other fees not stated herein.
The Application Process
The application process typically starts with the signing of a client agreement and a power of attorney with a service provider. This facilitates the process for the applicant, as the service provider undertakes the liaison with the different stakeholders. The process then continues with the preparation of the application and the supporting documentation. As applicants might be required to enter the country at some stage of the process, It is important to check if an ordinary entry visa will be required.
Documents need to be translated into Portuguese by authorised translators. Prior to making the investment a visit to Portugal will be required to open a bank account together with the signing of a power of attorney to your representative. Once the investment is made, the application is submitted to the SEF with the application fees.
The authority issues a confirmation that the application has been received and processed with due diligence. This process typically takes no longer than 5 months, depending on the file.
Once the SEF approves the application, a confirmation is sent. Thereafter, the applicant and his dependents are required to visit Portugal to have their biometrics taken and pick up their resident permits. Residence permits are valid for a period of one year after issue and renewable for two subsequent periods of two years.
Minimum investment amounts may be reduced by 20% if made in sparsely populated areas.
The above investment criteria may be reduced by 20% if made in sparsely populated areas.
This programme does not require applicants to make a financial contribution to the state;