Golden residence permit

Golden residence permit

Portugal has developed a «Golden residence permit» - a program that will simplify the immigration rules. This bill was created to increase the amount of investment in the country and went into effect in the autumn of 2012.

The new law provides opportunities for buyers to get residency and citizenship in the European Union, through investments and workplace organization.

The Portuguese Government has officially given the name of the program - ARI (AUTORIZACAO DE RESIDENCIA PARA ACTIVIDADE DE INVESTIMENTO), which means the residence through investment. The program is available for all foreign citizens who are not members of the European Union.

To participate, investors need to do one of the following conditions:

- Invest at least 1 million euro to the Portuguese company;

- Create a Portuguese company for at least 30 employees;

- Buy property from 500 thousand euro.

With these simple and clear criteria Portugal aims to increase investment in the country’s company, create a lot of new jobs and increase the volume of investments in real estate.

Owner of the «Golden residence permit» gets all benefits of the Schengen visa, which entitles the holder to travel to 26 countries.

«Gold residence permit» should be updated three times:

- Initial permit - 1 year;

- The first extension - 2 years;

- The second extension - 3 years.

At the end of the fifth year owners of the «Golden residence permit» can apply for Portuguese citizenship and passport, which gives all benefits of an EU citizen.