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15 June, 2022

Portugal began to accept applications from investors for a residence permit in the usual manner

The SEF, or the Portuguese Immigration Service, has resumed accepting investor applications for the Golden Visa. Licensed agents of the program were able to apply for new residence permit applicants for the first time since January 2022.

Residence permit in Portugal for investment
Photo: Adobe Stock

The residence permit program in Portugal officially worked. SEF continued to process the investor documents it accepted in 2021. Licensed agents could apply for investors who wanted to obtain a residence permit in Portugal for investment in cultural heritage or through the creation of five jobs in the country. These program options remain unchanged.

From January 1, 2022, Portugal has changed the conditions of the residence permit program for investment. The cost of participation increased by 1.5 times for four options:

  • investment in investment fund units increased by €150,000;
  • for €150,000 – investment in a new or existing business;
  • for €150,000 – investments in scientific research;
  • for €500,000 – transfer of capital to Portugal, for example, opening a deposit in a local bank.

Portugal also limited the choice of properties. Applicants for a residence permit for investment can now buy residential real estate only:

  • in Madeira and the Azores;
  • in the interior regions of Portugal, which do not include coastal resort areas and major cities such as Lisbon and Porto.

Commercial property remains available for purchase in any region of Portugal without exception.

From June 13, 2022, SEF has resumed accepting applications for a residence permit for investment. It has not been possible to submit investor documents since the beginning of 2022. The reasons are different, the main one is the reform of the SEF Immigration Service.

Portugal plans to create a new agency for migration and asylum – APMA. It will perform administrative functions. SEF police powers will be transferred to the country’s police departments – GNR and PSP.

Oksana Milczarek
Head of the Portuguese office Immigrant Invest

How to get Portuguese citizenship by investment

Investors who want to become residents of Portugal must apply to a licensed agent of the residence permit program. Cannot apply on your own.

Immigrant Invest is the official representative of the residence permit program in Portugal. We conduct a preliminary due diligence of the investor. And only having learned the result, we will sign an agreement with the investor.

A certified Anti Money Laundering Officer conducts almost the same due diligence as a program department. Our verification is confidential, takes one day and allows you to identify all risks in advance and reduce the risk of refusal of a residence permit to 1%.

Stages of obtaining a residence permit in Portugal for investment

Choose an investment object
Obtaining Portuguese tax numbers for the investor and his family members
Transferring the investment amount to a Portuguese bank account
Purchase of real estate or shares, transfer of capital or investments in other options
Collecting documents and submitting them for consideration to the SEF
Submission of biometric data of the investor and his family members to SEF Portugal
Approval and receipt of residence permit cards

What do participants of the residence permit program in Portugal invest in?

Most often, investors choose options with the purchase of real estate in order to obtain a residence permit in Portugal. The demand for options is explained by the high liquidity of Portuguese properties. Real estate prices in major cities and resorts in Portugal are growing by 7-10% per year. The cost of housing in the country has increased by 50% over the past 10 years, according to Eurostat.

Return on investment is the main advantage of options with the purchase of real estate. The investor has the right to sell the object after 5 years of ownership and return the invested money.

Examples of investment properties in Portugal

Residence permit in Portugal for the purchase of real estate in the Algarve example of an object

A hotel apartment in the Quinta do Lago resort in the Algarve. Price – from €534,000

Residence permit in Portugal for the purchase of real estate in Madeira: an example of an object

Apartments in a student project in Porto. Price – from €190,000

Immigrant Invest is a licensed agent of the residence permit program in Portugal. If you want to become a resident of the country and travel around the Schengen countries without visas, please contact investment program experts for advice.

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Portugal began to accept applications from investors for a residence permit in the usual manner