Golden Residence Permit

This is a fast track way for foreign investors to obtain residency permits in Portugal this in turn gives that person the freedom to move around the EU area under an EU residency permit.

The Portuguese government is making it easier for overseas investors to gain residency by a more simplified Golden Residency Permit Program also known as the 'golden visa'.

The original scheme allowed golden visas to be granted to those conducting capital transfers of at least 1 million Euros, creating 30 jobs or buying real estate worth at least 500,000 Euros.

This was then amended in early 2013.

it is now possible to co-own with each co-owner making an investment of at least 500,000 Euros, promissory contracts of purchase and sale are now acceptable for the initial investor residency application, if a deposit of at least 500,000 Euros is paid. In this event, the actual purchase of the property doesn't need to be effected until the time of the first renewal of the residency permit. There is also the opportunity to finance the purchase of a property over 500,000 Euros. It has also been clarified that a property can be freely rented and let for commercial, agricultural and tourism use.

There have also been changes in categories of qualifying investments. Capital Transfer funds can now be used to invest in all types of companies and the job creation category has been reduced from 30 to 10 jobs.

Periods of mandatory stays in Portugal for the investors has also been eased and now stand at 7 days for the first year and 14 days for subsequent periods of 2 years.