The Portuguese ARI – Authorization of Residency for Investment Activity, or Golden Visa, is a special Residence Permit for investment activity, accessible to non-European Union or European Economic Area citizens and their immediate family members who are willing to engage in a qualified investment in Portugal.
Amongst many other features, the Portuguese Golden Visa holders can move freely throughout the Schengen Area and, later, apply for permanent residency and citizenship.
Possible Investment Activities
- Capital Transfer
1. € 1,500,000.00 minimum capital transfer into a Portuguese bank account or approved investments.
2. € 500,000.00 for the acquisition of investment fund or venture capital fund units committed to the capitalization of companies incorporated under the Portuguese law, with a maturity of at least five years and with at least 60% of the investment portfolio in companies with a registered office in the national territory.
3. € 500,000.00 for research activities of public or private entities that are part of the national scientific and technological system. € 400,000.00 in a low population density area*.
4. € 250,000.00 in support of artistic production or the recovery or maintenance of national cultural heritage. € 200,000.00 in a low population density area*.
- Property Acquisition
1. € 500,000.00 minimum real estate purchase (residential property is limited to designated interior areas). € 400,000.00 in a low population density area*.
2. € 350,000.00 minimum real estate purchase for refurbishing residential properties older than 30 years or in an urban regeneration area, including the cost of renovations (residential property is limited to designated interior regions). € 280,000.00 in a low population density area*.
*A low population density area is defined as less than 100 inhabitants per km² or with a GDP per capita below 75% of the national average.
- Business
1. Creation of a minimum of ten new jobs. Eight new jobs in a low population density area*.
2. € 500,000 for the incorporation or increase of the share capital of a company registered in Portugal, creating or maintaining a minimum of five permanent jobs for three years.
How to invest?
Individually or through a Commercial Company?
The law allows the applicants to choose between investing in their name or through a sole shareholder company based in Portugal or another EU member state.
Validity and Future Opportunities
The Golden Visa is a temporary Residence Authorization valid for two years and renewed for two years. The minimum stay in Portugal every two years is 14 consecutive or interpolated days.
After a minimum period of 5 years, the applicant may apply for a Portuguese Permanent Residence Permit, which requires basic knowledge of the Portuguese language, a Portuguese address, and a clean criminal record, or apply for Portuguese citizenship, with the exact requirements as the former with an additional demonstration of existing connections and ties within the Portuguese Community.
Golden Visa Benefits
- Visa-free travel within the Schengen Area.
- Right to live and work in Portugal, however, with no obligation to move permanently to Portugal.
- Direct family members, such as a spouse, minor children, children over 18 if studying and single (no age limit), and parents can also obtain residency.
- No worldwide taxation.
- Significant tax reductions or exemptions should the applicant choose to live in Portugal.
- Right to education, recognition of degrees and qualifications, access to the national health system, social security, trade union protection, and access to Portuguese law and judicial courts.
- After five years, the possibility of obtaining permanent residency and/or citizenship will allow the applicants and their families to reside and work anywhere within the EU.
