Golden Residence Permit Programme - ARI

Order 1661-A/2013 of the Ministry of Foreign Affairs and of the Ministry of Internal Affairs, published in the Portuguese Official Journal [DR 19 SÉRIE II] of 28 January 2013 (PDF - ENGLISH VERSION AVAILABLE SOON) amends Order 11820-A/2012, aimed at attracting foreign investment to Portugal and fast tracking foreign investors to obtain Residency Permits in Portugal.

The following are the new provisions of the ARI programme:

TYPES OF QUALIFYING INVESTMENTS

Property Investments

• Acquisition of Properties above €500,000 in total.
• There is also the possibility of requesting the residency permit just with the signature of a Promissory Contract of Purchase and Sale with a payment of a deposit of 500,000 Euro.
• Joint acquisition of properties provided that each of the joint owners invest €500,000 or more (for example: 3 investors could make a joint investment of 1.5M€).
• Possibility of financing above €500,000.
• Total freedom to rent or lease the properties;

Capital Investments

• Transfer of Funds above € 1,000,000 (this may include direct investment into any company in Portugal).

Job Creation

• Creation of a minimum of 10 jobs.

GENERAL REQUIREMENTS

• Investments maintained for a minimum of 5 years
• Acquisition of properties above € 500,000.
• Purchased after 8th October 2012.
• Acquisition completed before the application for residency permit.
• Properties acquired free from any charges or mortgages.

LEGAL INFORMATION

• Minimum stays in Portugal – 7 days first year and 14 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.

Ontario residents may apply in person at the Consulate General of Portugal in Toronto or online at http://ari.sef.pt