BECOME A
GLOBAL CITIZEN
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Portugal Permanent Residency
Golden Residence Permit Program
for living by the ocean and travelling
across Europe visa-free
Portugal started issuing residence permits by investment in 2012. The program is popular among investors: 27,000 applicants got Golden Visas in the last 10 years.
Investors choose between seven options. Applicants often buy a property for restoration for €350,000 or a new real estate for €500,000. The purchase of investment fund units for €500,000 is also gaining popularity.
If investors choose to buy real estate or investment fund units, they can return the money in 5 years by selling the asset.
If they remain Portuguese residents for 5 years, the investor and their family members can apply for permanent residence or citizenship. At the same time, they don’t have to live in Portugal. Golden Visas holders maintain their residence status by spending seven days a year in the country.
Benefits of the Portugal Golden Visa
Who can get a Portugal Golden Visa
- Over 18 years old
- No criminal record or prosecution
- Money for investments is earned outside of Portugal
- No debts in Portugal
- Capable of confirming the legality of the income
- Medical insurance
- Financially dependent on the investor
- Live with the investor or study at a university
Financially dependent on the investor
- Under 26
- In the investor’s custody
Investment options for the Portugal Golden Visa
Portugal offers seven investment options. The most popular option is purchasing new real estate or an older property for restoration. Investors can buy residential properties in Madeira, the Azores, and mainland Portugal’s interior regions. Commercial properties are available for purchase in any Portuguese area.
Real estate purchase
€280,000+
Investors choose between two options:
1. €350,000+ for the purchase of real estate built more than 30 years ago or located in designated restoration areas. If a property is in a sparsely populated area, its price may start at €280,000.
2. €500,000+ for purchasing a newer residential or commercial real estate. €400,000+ is the price for properties built less than 30 years ago and in a sparsely populated area.
The investor can sell the property in five years and return the money.
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| Transfer tax |
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| Stamp duty |
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| Annual property tax |
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| Medical insurance |
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| Eligibility Test | €15,000 |
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| Application fee |
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| Residence permit card |
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2Option
Purchase of
investment fund units
€500,000+
The option is the best way to obtain a Portugal Golden Visa if the investor doesn’t plan to live in Portugal or invest in real estate.
An investment fund is a financial institution that aims to attract and increase capital. The fund raises money and invests in selected assets: residential or commercial real estate, Portuguese companies, industrial facilities or the European stock market.
The minimum fund investment is €500,000. The holding period is at least 5 years. However, the money is usually returned in 6—10 years. The fund distributes the earned profit among investors withdrawing a commission.
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| Fund commission when investing | Up to 7.5% | ||||
| Annual fund commission on profits |
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| Tax on investment income for Portuguese tax residents |
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| Tax on investment income for non-residents |
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| Medical insurance |
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| Application fee |
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| Residence permit card |
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3Option
Supporting arts
and restoring cultural heritage
€250,000+
4Option
Investments
in research activities
€500,000+
5Option
Capital transfer
€1,500,000+
7Option
Opening a company
€500,000+
Creation of at least 10 jobs
6Option
Business investments
€500,000+
With the creation of at least 5 jobs
Differences between the Golden Visa and other residence permit types
| Golden Visa |
| Other types of residence permits |
Portuguese language
proficiency test
Not required
Required
Mandatory residing
in the country
7 days a year
183 days a year
Permanent residing
in the country to qualify
for citizenship
Not required
Required
Rejection risk
| Low |
| High |
A certified Anti Money Laundering Officer carries out practically the same Due Diligence check as the Portuguese authorities. The check allows us to identify all potential issues in advance and reduce the rejection risk to 1%.
Our preliminary Due Diligence check is mandatory. We sign an agreement with the investor only knowing the check results. If there are any risks, we offer a solution. For example, we may recommend choosing another program or attaching additional documents to the application.
The preliminary check is confidential. The investor doesn’t have to provide many documents — a passport will suffice.
Pass a quick test and learn the nuances that can prevent you from obtaining a second citizenship
Mckhavens consulting real estate experts select several properties for the investor to consider. If necessary, an expert goes to the site to take photographs and videos of the property. When the investor chooses a property, we negotiate the terms with the seller on the investor’s behalf.
The investor visits Portugal to examine the selected properties on-site and decide on the appropriate option. Within two or three days, it is possible to open a bank account, get an individual taxpayer number and draw up a power of attorney for a lawyer who will represent the investor in Portugal.
Mckhavens consulting lawyers accompany the purchase process and take care of the transaction legality.
The Portuguese lawyer signs a presale contract and closes the deal. The investor transfers the money. With a power of attorney, the lawyer receives the certificate of ownership of immovable property, which is attached to the application for a residence permit.
Mckhavens consulting lawyers provide the investor with an individual list of documents required to apply for a residence permit. They also fill out government forms, translate and notarize documents, and collect documents related to property ownership. The process takes up to two weeks.
E-copies of the documents are sent for consideration to the SEF, the Portuguese Immigration Office. There, the application is considered for 4—6 weeks.
The investor and their family need to come to Portugal to submit original documents and fingerprints for residence permit cards. The appointment for fingerprinting must be booked in advance in the SEF electronic register.
SEF issues a confirmation document after the applicants submit the documents and fingerprints. The confirmation from SEF allows living in Portugal until the residence permit cards are issued. However, one cannot enter or leave the country until the residence permit cards are received.
SEF checks the investors’ documents for up to six months from when the original documents and biometric data are submitted.
After approval, the investor pays the fee for the residence permit cards. They are prepared within two weeks and issued personally to the investor or their lawyer by proxy, who then sends the documents to the investor.
The investor and their family members must spend at least seven days a year in Portugal to maintain residency. The residence permit has to be renewed every two years.
The renewal procedure is similar to the initial application: one needs to collect the same documents and submit them online, pass fingerprinting, apply the original documents, and obtain new residence permit cards.
Golden Visa and Immigrant Invest stay with you
Portuguese residents regularly renew their ID cards. Other needs may also arise over time, such as: getting a residence permit for a newborn child or a new spouse, preparing documents for citizenship or becoming a tax resident. See how we continue to help our clients.
We help investors get new residence permit cards every two years.
We prepare an application and accompany the investor until a new residence permit card is received.
We help the investor’s spouse, children and parents get residence permits.
We help the investor choose a finished apartment or buy a property under construction. We closely follow each step of the purchase transaction.
We prepare the required documents and help to apply.
We prepare the required documents and fill out the forms.
We help investors get the beneficial NHR tax status, provided that they spend more than 183 days a year in Portugal.
Answers to frequently asked questions
An adult investor with proven legal income earned outside Portugal can get a Portugal Golden Visa, also known as a Portugal residence permit by investment. The applicant must have no criminal records and valid medical insurance.
A spouse, children under 26 and parents can get Golden Visas with the investor. Adult children must financially depend on the investor. For example, if they are students at a university, the investor pays tuition fees.
The Golden Residence Permit Program offers investors seven options. Supporting arts and the Portuguese national cultural heritage requires the least investment amount — €250,000.
The most popular investment options are purchasing real estate for restoration for €350,000 or other properties for €500,000. There is a growing demand for buying investment fund units for €500,000.
Some options provide investors with opportunities to return the money. For example, they can sell real estate or investment fund units in five years. In the meantime, the investor can receive rental income and benefit from the asset value growth.
No one can guarantee that you will get a Portugal residence permit by investment. Moreover, if a company guarantees success, you probably deal with scammers.
Mckhavens consulting conducts a preliminary Due Diligence to reduce the rejection risk to 1%. A certified Anti Money Laundering Officer examines investors’ documents considering the nuances of Due Diligence in the particular country. If there are any risks revealed, we search for a solution. For example, to add specific documents or choose another program.
The investor must spend at least seven days a year in Portugal to maintain the residence status. It is also important to renew the residence permit card on time every two years.
The investor pays taxes when buying and maintaining real estate. Income derived from sources in Portugal is also taxed.
If an investor lives in Portugal for more than 183 days a year, they become a tax resident and begin to pay taxes at the rates for the country’s tax residents. New tax residents can also qualify for the beneficial Non-habitual Resident status to reduce the tax burden for the next 10 years.
The investor doesn’t have to live in Portugal permanently, take language proficiency tests or serve in the Portuguese army.
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Matthew Oke Havens
Senior Consultant & Partner (Africa)