Over the last 2 years Portugal has implemented reforms to offers permanent residency to foreign nationals through its Golden Visa protocol.
The offer is quite simple but abides by a standard and unflinching set of rules: if you are a national from outside of the European territory you can purchase a property in Portugal (for and amount no less than 500.000,00 Euros) and you will be provided with a Residence Visa and you will be able to live and travel freely throughout Europe as would any national resident.
Several bureaucratic steps and regulations must be met to ensure full candidacy of applicants and attribution of the Golden Visa, such as:
- A clean, translated, recognized and authenticated criminal record from the applicants’ home country must be provided, as well as a valid Schengen Visa.
- The applicant/purchaser must keep the property investment for at least 5 (five) years, and remain in Portugal in the first year for a period of at least 30 (thirty) days. In the second and third years a joint amount of 60 (sixty) days, and in the fourth and fifth years a joint amount of at least 60 (sixty) days.
If you wish to know more contact DreamAlgarve for the full brochure and procedures, and we guarantee to assist you through all the legal, fiscal and property purchasing steps.