Investment Activity Analysis Authorization (ARI) – Gold Visas
The Resident Authorization for Investment Activity (ARI) regime, in force October 8, 2012, allows third-country nationals to obtain a temporary residence permit for investment activity with the residence visa to enter national territory, is granted by a period of two year, renewable for a period of three years and presupposes the maintenance of the investment for a minimum period of 5 years and the permanence in Portuguese territory, of 7 days (followed or interpolated), in the first year, and 14 days (followed or interpolated) in the subsequent two-year periods. The ARI regime is not applicable to citizens who have Portuguese nationality and nationals of the U.E. and the EEA. The application must be submitted to the Regional Delegations of the Foreigners and Borders Service.
The beneficiary has the possibility to:
- To enter in Portugal with dispensation of residence visa;
- To reside and work in Portugal, to remain in Portugal at least for one period of 7 days in the first year and not less than 14 days in the years subsequently;
- Circulate through the Schengen area, without visa requirements;
- Benefit from family reunification (authorization extended to family members of investor);
- Request the granting of Permanent Residence Authorization under the terms of the Foreigners Law (Law no. 23/2007, of July 4, with the current wording);
- Possibility of requesting the acquisition of Portuguese nationality after 6 years, for naturalization, fulfilling the other requirements required by the Nationality Law.
Who can apply?
All nationals of Third States who are exercising in investment, either in person or through a company incorporated in Portugal or in another State and with a permanent establishment in Portugal, in one of the following possibilities:
- The transfer of capital in an amount equal to or greater than 1 million euros;
- The creation of at least 10 jobs;
- The acquisition of one or more properties of value equal or superior to 500 thousand euros, investment in real estate is restricted “to the territory of the CIM’s [Intermunicipal Communities] in the interior and the Autonomous Regions of Madeira and the Azores, that excludes the metropolitan areas of Lisbon and Porto;
- Acquisition of properties older than 30 years or located in rehabilitation areas rehabilitation works with an overall value equal to or greater than 350,000 Euros, investment in real estate is restricted “to the territory of the CIM’s [Intermunicipal Communities] in the interior and the Autonomous Regions of Madeira and the Azores, that excludes the metropolitan areas of Lisbon and Porto;
This type of investment includes: Commercial or residential real estate, properties acquired in co-ownership, provided that the investor’s share is in the minimum value, real estate acquired individually or through shares of which the investor is a partner, leased real estate and real estate in excess of the minimum amount of the investment.
- Transfer of capital in an amount equal to or greater than 350,000.00 Euros for public or private national scientific research institutions;
- Transfer of capital in an amount equal to or greater than 250,000.00 Euros for investment or support for artistic production, recovery or maintenance of the national culture;
- Transfer of capital in an amount equal to or greater than 500,000.00 Euros applied acquisition of units of investment funds or risk of capitalization of small and medium-sized enterprises;
- Investment activities may be subject to a 20% discount on the total value, if they are carried out in areas with low population density (less than 100 inhabitants per km²) or if the GDP of that region is below 75% of the average national.
The following family members of the resident are entitled to Family Reunification:
Minor or incapable children in the charge of the couple or one of the wife/husband;
Minors adopted by the applicant when not married, by the applicant or by the wife/husband, as a result of a decision of the competent authority of the country of origin, provided that the law of that country recognizes the rights and duties adopted for the adopted person as being identical to those of natural parentage and that the decision is recognized by Portugal.
Adult children, dependent on the couple or one of the spouses, who are single and who are studying in an educational establishment in Portugal.
The older children, in charge of the couple or one of the spouses, who are single and are studying.
The ascendants in the straight line and in the 1st degree of the resident or his/her spouse, as long as they are in his/her care.
Minor siblings, provided that they are under the guardianship of the resident, in accordance with a decision issued by the competent authority of the country of origin and provided that this decision is recognized by Portugal.
The following are also considered family members for the purposes of family reunification of the unaccompanied minor refugee:
1st degree direct ascendants.
Your legal guardian or any other family member, if the refugee does not have direct ancestors or it is not possible to locate them.
They are considered family members for the purposes of family reunification of the holder of a residence permit for study, unpaid professional internship or volunteering;
Minor or incapable children in the care of the couple or one of the spouses;
Minors adopted by the applicant when not married, by the applicant or by the spouse, as a result of a decision of the competent authority of the country of origin, provided that the law of that country recognizes the rights and duties adopted for the adopted person as being identical to those of natural parentage and that the decision is recognized by Portugal.
Civil union – Family reunification can be authorized with:
The partner who maintains, in national territory or abroad, with the resident foreign citizen a de facto union, duly proven under the terms of the law;
Unmarried minor or disabled children, including the adopted children of the de facto partner, provided that they are legally entrusted to them.
Documentation required (documents must be translated to Portuguese and apostilled at the Ministry of Foreign Affairs):
- Passport or other valid travel document, valid for at least three months;
- Valid Schengen visa, or short stay visa – For the purpose of granting residence permit, nationals of non-EU Member States should within 90 days of the first entry into National territory.
- The short-stay visa – “Schengen” visa, which can be issued by the Consulate Portuguese in the country of origin;
- Request for consultation of the Portuguese Criminal Register by “SEF”;
- Proof of Health Insurance;
- Proof of entry and legal stay in national territory;
- No conviction for a crime punishable by imprisonment in Portugal with a duration of more than 1 year;
- Certificate of Criminal Record of the country of origin or of the country where you have lived for more than 1 year, authenticated by the Portuguese authorities (authentication of the Portuguese consulate or apostille);
- Declaration of Commitment of Honor, attesting to the commitment to requirements relating to the exercise of investment in Portugal;
- Proof of the regularized tax situation by submitting a tax return non-debt issued by the Tax and Customs Authority and Social Security;
- Proof of one of the three (3) types of investment in national territory.
Lawyer Fees and Expenses for Residence Permit – “Golden Visa”
- Expenses / Opening of Dossier (Initial Order) –
- Annual Amount (paid annually during the month of January)
- Family Reunion (per person)
The amount of the fees does not include notary fees or registration fees, taxes or expenses incurred on behalf of the Customer, which will be collected, including VAT, in accordance with the legislation in force.
- Assistance in the management and maintenance of assets;
- Preparation of lease agreements or other types of contracts;
- Issuance of the relevant income receipts;
- Work with the Finance Services and pay their taxes;
- Acting with the Insurance Company, supporting the client in choosing the appropriate liability insurance policy;
- Representation of the owner’s client in condominium assemblies, signature of competent minutes of the meeting, and follow-up on the condominium decisions and approval of the annual accounts.
Expenses on account of the client:
- Notary fees (deed of purchase and sale) – Approximate value
- Registration of the title of acquisition of the property in the Registry of Land Registry – Approximate value
- Opening one bank account in Portugal
- Municipal Tax on Real Estate Transmission (“IMT”) 6.5% (Buildings Urban for commercial purposes, construction land) – Approximately 6% (Buildings Urban for housing purposes) 5% (Rustic Buildings);
- Stamp Tax 0.8%;
- Municipal Property Tax (“IMI”) Rate applicable between 0.3% and 0.5% (Buildings Urban) 0.8% (Rustic Buildings) Incidence on the value patrimonial tributary of the immobile;
- International Health Insurance Variable according to personal conditions of the recipient.
The investor must enter in Portugal with a Schengen visa (if necessary), with the general requirements for temporary residence and perform the residence within 90 days of your arrival. Since the authorization of the residence visa in Portugal (golden visa) is granted, the investor must stay in the country for at least 7 days during the first year and 14 days in each period subsequent two-year period. The Golden visa is valid for a period of one year and can be renewed for successive periods of two years. After 5 years there is the possibility of applying for a permanent residence visa and obtain nationality one year later.