Temporary residence permits in Portugal
Portugal has set up special programmes allowing non-EU citizens to obtain temporary residence permits through a simplified and rapid procedure. Investors will be able to access three separate programmes:
Residence permit for investment activities ("Golden Visa")
Any activity performed by an individual or a company is considered an investment activity if it leads to at least one of the following situations in Portugal:
Transfer of capital equal to or greater than one million euros
The applicant must prove that the minimum investment amount was complied with; investment in shares or stakes of companies with head office in Portugal or any other EU Member State are considered acceptable.
This proof must be given through a statement from a financial institution attesting to the actual transfer of capital to an account where the applicant is the only or main holder or for acquisition of shares or stakes in companies, along with the updated certificate of commercial registry attesting to ownership of a stake in the company.
Creation of a minimum of ten jobs
The applicant must prove that ten jobs were created and the employees must be registered with social security. This requires submitting an updated Social Security certificate.
Acquisition of real estate
If recently built, with a value equal to or greater than 500,000 euros. The applicant must prove they are the full owner of the real estate property by submitting an updated certificate from the land registry. The applicant may acquire the real estate property via joint ownership as long as each joint owner invests an amount equal to or greater than 500,000 euros and he can burden it as of an amount greater than 500,000 euros. A duly registered promise to purchase with a deposit equal to or greater than 500,000 euros shall be sufficient. After acquisition it can be rented out or managed for commercial, agricultural or tourism purposes;
If built at least 30 years ago or which is located in an urban rehabilitation area and rehabilitation works have taken place on the acquired real estate property to a total value which is equal to or greater than 350,000 euros;
Transfer of capital if used:
For the purpose of research activities conducted by public or private scientific research institutions that are part of the national scientific and technological system: an amount equal to or greater than 350,000 euros
If used to invest in or support artistic production or recovery or maintenance of national cultural heritage via direct, central and peripheral administrative services, public institutes, entities that are part of the corporate public sector, public foundations, private foundations with a public utility status, inter-municipal entities, entities that are part of the local corporate sector, associative municipal entities and public cultural associations that take part in artistic production and recovery or maintenance national cultural heritage: equal to or greater than 250,000 euros
For acquiring shareholdings in investment funds or risk capital funds directed at capitalizing small and medium enterprises that submit their respective capitalization plan for the purpose, and said plan is considered feasible:equal to or greater than 500,000 euros
Other conditions or requirements:
- The investment activity must be maintained for at least 5 years as of the time the residence visa has been granted.
- This authorization of residence can be renewed for two periods of two years, and the applicant needs to remain in Portugal for seven consecutive or non-consecutive days during the first year and fourteen consecutive or non-consecutive days during the subsequent periods of two years.
Residence permit for entrepreneurship and/or innovation activities ("Start-up Visa")
The StartUP Visa is a program that welcomes foreign entrepreneurs who wish to develop an entrepreneurial and/or innovation project in Portugal. Foreign entrepreneurs who wish to start an innovative company will have access to a residence visa that will give them the possibility of creating a start-up from scratch or relocating an existing one to Portugal. To do so entrepreneurs must show the following:
- that they wish to develop activities for producing innovative goods and services from an internationalization perspective;
- that their projects and/or companies focus on technology and knowledge with potential development of innovative products;
- that they have the potential to create qualified employment;
- that they have the capacity to establish a company and the potential to reach a turnover greater than €325,000/year and/or assets valued at more than €325,000/year, up to 5 (five) years after the validity of the incubation contract.
Assessment of the economic and innovative potential is made on the basis of the degree of innovation, scalability of the business, market potential, the capacity of the management team and the potential to create qualified employment in Portugal.
Residence permit for highly qualified workers ("Tech Visa")
This Tech Visa aims to ensure that highly qualified staff, foreign to the European Union, can access the jobs created by Portuguese companies in a simplified manner. This programme is aimed at technological and innovative companies, inserted in the global market, that want to attract to Portugal qualified and specialized staff from third countries.