Residency

OVERVIEW

Portugal’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 5 years.
Permanent Residency Timeline: 6 months
Citizenship Timeline: 5 years
Nationalities supported: Open to most non-EU nationalities
Investment type: Real Estate
Investment cost: € 500,000

COSTS

The Portuguese Golden Visa Program requires making a real estate investment into a property in Portugal.

OPTION – REAL ESTATE INVESTMENT

The 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.

Investment
€ 500,000 Full Investment
€ 5,150 Initial investor residency permit
TIMELINE

1-2

WEEK

Atlantic Agreement signed and first Payment of CI Professional Fees.

The Client could select the Portuguese property remotely and Atlantic starts preparing the property purchase documentation required to be presented for Residency application.

2-4

Week

The Client must travel to Portugal to get the passport stamped before submitting the Residency application. If the client does not have Schengen Visa, then a Portuguese Tourist Visa must be applied for at the Portuguese Consulate in the client’s country of origin / residence.

The Client & all applicants travel to Portugal on Schengen / Tourist Visa, to obtain passport stamp & visit Immigration Department. Client can see the property, alternatively, can directly transfer the capital to his new Portuguese bank account opened by Atlantic.

3

MONTH

Property Purchase executed by Atlantic Lawyers. Residence Permit documentation is submitted to the Government including the property Title Deed. At this point, Government Processing Application Fees are payable.

The client pays the Submission invoice of Atlantic Professional Fees

4

MONTH

Upon Approval, a meeting with the authorities is scheduled. At this point, Government Residency Permit Fees are payable.

Atlantic final Professional Fees are paid.

Clients can travel to Portugal to collect the Residency Permit, alternatively, Atlantic lawyers can collect on client’s behalf. Residence Permit is issued within 45 days.

29 COUNTRIES VISA-FREE

SCHENGEN AREA

Austria

Belgium

Czech Republic

Denmark

Estonia

Finland

France

Germany

Greece

Hungary

Iceland

Italy

Latvia

Liechtenstein

Lithuania

Luxembourg

Malta

Monaco*

Netherlands

Norway

Poland

Portugal

San Marino*

Slovakia

Slovenia

Spain

Sweden

Switzerland

Vatican City*