PORTUGAL RESIDENCE

OVERVIEWrnPortugal’s passport is ranked as the 6th strongest passport in the world. It allows visa-free access to over 172 countries. Portuguese passport holders have the right to study, work, and live in any country in the European Union. On the 8th October 2012, the Government of Portugal made changes to the Immigration Law 29/2012 allowing non-EU Citizens to receive a temporary EU Residence Permit for up to 5 years in exchange for investments in Portugal’s Real Estate. The new regulations offer non-EU Citizens, a simple and fast way for property investors to receive a five-year Residence Permit (Golden visa). Upon purchasing real estate with a value of €500,000 the Portuguese Golden Residence Permit will be issued temporarily for an initial period of one year which can then subsequently be renewed for two consecutive periods of two years making a total of five years. After the five years has elapsed, the holder may apply for a Permanent Residence Permit. In accordance with Portuguese Nationality Law 37/81 of the 3rd October 2006, amended by Decree Law No. 322-A/2001 of 14th December, article 6, the Government grants the Portuguese nationality through naturalization to foreigners who fulfill the requirement to be legally resident in Portuguese territory for at least six years. Permanent Residency Timeline: 6 monthsrnCitizenship Timeline: 6 yearsrnNationalities supported: Open to most non-EU nationalitiesrnInvestment type: Real EstaternInvestment cost: € 500,000 COSTSrnThe Portuguese Golden Visa Program requires making a real estate investment into a property in Portugal. OPTION - REAL ESTATE INVESTMENTrnThe Residency Permit Program of Portugal requires investing a minimum of €500,000 into Real Estate in Portugal. Property Closing Costs are approximately 8%. This investment of €500,000 must be mortgage free. The excess can be financed through a mortgage loan if necessary. An investor is expected to have the financial means to come up with these funds unassisted by a lender, whether national or foreign. For a full breakdown of the government fees, legal fees and other fees payable, please contact us