This is the case of the Golden Visa, a Portuguese incentive program that can generate nationality or permanent residence in just 5 years. It is a type of visa created 2012 and authorizes residency for people who invest in the country. One of the most common forms of investment is the purchase of properties.
The Residence Permit for Investment Activity (ARI) underwent some changes in 2018. Previously an individual had to invest 500 thousand euros, now there is already the possibility to invest in real estate from 350 thousand euros. To do this, the properties must have been built over 30 years ago and be located in an area where there is the possibility of rehabilitation.
If this is not the case the value remains at 500 thousand euros and a good form of investment is after the purchase lease.
Both values can be reduced by 20% if the property is in a sparsely populated area.
Who can apply?
Members who are not members of the European Union and are engaged in an investment activity. Most Golden visas are granted to Brazilians and Chinese. China leads the visa allocation (4,369), followed by Brazil (817), Turkey (363), South Africa (311) and Russia (279) *.
What are the benefits?
It is a gateway to facilitate residency as well as nationality. The good news is that the investor can choose not to live in Portugal, just prove the contribution and stay for a short period, and after 5 years can apply for their nationality. Once you are a Portuguese citizen you can also do family reunification, ie apply for Portuguese nationality for a husband / wife and / or sons / daughters, who must of course meet all requirements.
Golden Visa Timeline
The first residence visa is valid for one year and at that time the investor must remain at least seven days. To obtain the second visa valid for two more years, the investor must stay in Portugal for at least 14 days. On renewal of the third visa, the individual has a validation for two more years and in this period it is not necessary to stay in Portugal, after this time it is possible to apply for a permanent visa or citizenship.
Residence Permits for Investment Activities grew by 80.6% in August compared to the same period last year. The acquisition of properties generated 76 million euros for the country and the capital transfers: 6.4 million. It seems that the Gold Visa Program will continue to strenghten in the coming months.