VISA PERMITS NON EU RESIDENTS SCHENGEN

Portuguese Residency for Investors – General Overview

 

New legislation aimed at attracting foreign investment to Portugal.
Fast track for foreign investors to obtain Temporary Residency Permits in Portugal.

Types of qualifying investments:

• Property Investments - Acquisition of properties above € 500,000 in total.
• Capital Investments - Transfer of Funds above € 1,000,000.
• Job Creation - Creation of a minimum of 30 jobs.
• General requirement – Investments maintained for a minimum of 5 years.

Portuguese Residency for Investors – Property Investments – Legal Information

• Acquisition of Property above € 500,000.
• Purchased after 8th October 2012.
• Acquisition completed before the application for residency permit.
• Properties acquired free from any charges or mortgages.
• Minimum stays in Portugal – 30 days first year & 60 days following periods of 2 years.
• Residency Application made within a maximum of 90 days after entry in Portugal.
• Residency Permit granted for an initial period of 1 year & renewed for periods of 2 years.
• Possibility of permanent residency after year 5 and nationality one year later.
• Bearers of Investor Residency Permits may travel freely in the Schengen area.

Portuguese Residency for Investors – Documents & requirements

• Valid Passport and Schengen Visa.
• Valid travel document and medical insurance.
• Updated property documents showing ownership of property.
• Proof of means of income and proof of address.
• Accommodation.
• Absence of criminal conviction and of interdiction to enter the country.
• Absence of notice from the Portuguese Immigration Authorities or Schengen Services.
• Declaration from the investor confirming compliance with the investment requirements.

Portuguese Residency for Investors – Typical Application costs

• Processing Fee (initial application and renewals) - € 500
• Initial Investor Residency Permit - € 5,000
• Renewal of Investor Residency Permit - € 2,500
• Initial Residency Permit for Family Members - € 5,000
• Renewal of Residency Permit for Family Members - € 2,500

Portuguese Residency for Investors –  recommended legal services

All in one package of legal services with full support to the foreign investor covering the property acquisition and the application for investor residency permit

PropertyWork:

Full legal due diligence on property.
Preparation and assistance on property acquisition, including client representation.  Receipt and holding of funds in a Lawyers client/escrow account (if required).
Property registration procedures and document services.

Application for Residency Permit:

Preparation and submission of initial application and required documentation  Representation before the Portuguese Authorities.
Accompanying client to the Portuguese Authorities (when required).
Full assistance with renewals.

CONTACT US

info@irglux.com   TEL: +351 214 643 636

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