Golden Visa Portugal 2023 : ARI, Investment residence card

The Golden Visa Portugal program, which differs from the d7 programis aimed at people who can afford to invest between €280,000 and €500,000 in real estate or a job-creating investment in Portugal. If you don't have the means to make such an investment, and are looking to live in Portugal, read our article on the D7 passive income program.

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What is the Golden Visa investment program in Portugal?

The so-called Visa Gold or Golden Visa "This is in fact a residence permit which gives its holder the right to stay on Portuguese territory for the purpose of investing in real estate or any other type of investment. It's not just an entry visa or Schengen visa, it's the equivalent of a two-year residence permit, renewable every 3 years.

The legal name for this permit is ARI (permis de séjour pour activité d'investissement). This residence permit is granted to anyone who is not a citizen of the European Union or the Schengen area, and who meets certain criteria relating to investment in real estate. Investors in other business sectors, especially those that create jobs in the country, can also apply for this residence permit.

Holders of this visa or residence permit, as in the case of all foreign nationals who have legally resided in Portugal for six years, can apply for Portuguese citizenship under certain conditions.

Advantages of Portugal's Golden Visa program

Portugal offers many advantages and privileges to investors interested in buying real estate in the country.

The first advantage for an investor is that he is not obliged to live permanently in the country to keep his residence permit, and to keep renewing it. They are free to remain in their country of origin for business purposes, without having to worry about spending a lot of time in the country. Portugal to retain visa rights Gloden.

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 Portugal requires residents holding a "Golden Visa" residence card to spend a minimum of just seven days a year in the country on average.

As a Golden Visa holder, you can work and study in Portugal, as well as setting up and running your own business.

Below is a list of the advantages of this residence permit, which is not exhaustive:

• Free health insurance and education for your children.
• The possibility of adding dependent family members on request as part of an investment.
• Obtain a permanent residence card after 5 years of renewal, without having to keep the initial investment.
• A Golden visa in Portugal allows you to obtain the Portuguese citizenship after 6 years of residence. The Portuguese passport entitles you to travel to 186 countries without a visa.
• Visa-free travel between European Schengen member states for the duration of your stay.
• Enjoy the safety and security of Portugal.
• Get a potential capital gain on your real estate investment.

As a Golden visa holder, you can work and study in Portugal, as well as set up and run your own business in Portugal.

Golden Visa tax benefits

The ARI program entails no tax liability for its holders, provided that the holder spends no more than 183 days a year in Portugal. In this case, you are a tax resident.

The country offers a privileged tax regime to foreigners planning to settle here, thanks to the status of non-habitual resident (RNH). RNH status allows you to benefit from a flat tax rate of 20 %, 10 % or even total exemption from income tax for the first ten years of residence.

Family reunification under the ARI program

If you are an applicant or holder of a principal resident card, you can extend the Golden Visa to the following family members:

• The spouse,
• children under the age of 18,
• Dependent children under 26, provided they are full-time students and unmarried,
• The parents of the principal applicant, if they are over 65.

Your family members can apply at the same time as you (principal applicant), or apply for a residence permit at a later date if the requirements are still met.

Property investment criteria in Portugal to qualify for the Golden Visa?

To qualify for ARI residence permit (commonly known as Golden Visa), you undertake to purchase one or more properties with a total value of 500,000 euros, or properties to be renovated with a value of 350,000 euros. Theoretically, the price of the restoration must be 150,000 euros or more.

Note that if the area in which the property is to be purchased is classified by the Portuguese government as a low-density zone, the minimum investment is reduced by 20%280,000 to 400,000 euros.

You can opt for any real estate project, not just a residential property.

Several co-owners can join together to purchase a property, and thus benefit from the same treatment in obtaining the title in question.

Other types of non-real estate investment eligible for the Portuguese Gold Visa

There are other types of investment in Portugal that qualify for ARI residency, including :

Capital transfer :

Capital transfers of €1 million or more to Portugal.

Or a 500,000 euro subscription to a Portuguese fund.

Business creation and new jobs:

By creating a minimum of ten new full-time jobs in a Portuguese company owned by the applicant. Eight new jobs if the company is located in a low-density area.

Investing in an existing company :

Invest a minimum of €500,000 in an existing Portuguese company, which must create a minimum of five new jobs over a period of at least three years.

Eligibility to apply for the Portugal Gold residence card

To apply for a Portuguese Gold visa, a number of conditions must be met:

• The investor must be over 18 years of age.
• Have a clean criminal record in Portugal and in any country in which you have been resident for the past 5 years.
• Proof of availability of the required investment.

Costs and required documents

Gold visa costs for Portugal

To apply, you need to factor in certain costs in addition to the investment amount:

• Processing fee 534 euros (+ 84 euros/family member for family reunification)
• Initial application fee 5,337 per person
• Renewal application fee 2,667 euros per person

Documents required to apply for a Golden visa in Portugal

When applying for a gold visa for Portugal, you must be in possession of the following documents:

The official visa application form for Portugal. It can now be filled in online via the immigration portal ari.sef.pt

• A valid passport.
• Two passport-size photos complying with photo requirements for Portuguese visas.
• Proof of valid health insurance in Portugal.
• Proof of no criminal record (translated into Portuguese).
• Affidavit attesting that you will maintain your investment for a minimum period of five years.
• ARI portal payment receipt.
• All documents relating to your investment.

Procedures for obtaining a Portuguese Glod Visa

Step 1: Open a bank account and create a Portuguese tax number

Before you can finalize your investment, you'll need a tax number and a Portuguese bank account.

You can obtain a tax number, also known as a NIF (Número de Identificação Fiscal) number, from your local tax and customs office (taxpayer registration services). You will need to fill in a series of forms (provided by the tax office) and submit documentation concerning your need for a Portuguese tax identification number.

You can open a bank account with any reputable financial institution in Portugal. The procedure is quite simple, the same as anywhere else in the world: just go to the bank and apply to open a bank account.

For both these procedures, you'll need documents proving your income, your home address and proof of identity.

Step 2: Making your investment

Once you've opened your bank account and obtained your tax identification number, you can finally make your investment. Finalizing the investment can take months; you cannot apply for the Golden Visa until you have the necessary documents proving that you have obtained it.

Once you've finalized your investment, you can return home to collect the required documents and apply for the Portuguese Golden Visa.

Step 3: Applying for a Portuguese gold visa

Once you've made your investment, you can apply to the Immigration and Frontiers Department (SEF) for a Portuguese gold visa.

The procedure is as follows:

• Register on the ARI portal (Permis de séjour pour activités d'investissement). ARI is the SEF's online portal for processing Golden Visa applications. You can register yourself, or a legal representative can register on your behalf.
• Attach electronic copies of the required documents (in PDF, no larger than 4MB).
• Pay all relevant fees.
• Wait for confirmation from SEF.
• Make an appointment to submit your Golden Visa application at a local SEF branch.

Feel free to comment to request more information.

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