Category Archives: Golden Visa

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All you need to know about the Golden Visa

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STEP 1 – THINGS TO DO BEFORE YOU COME TO PORTUGAL

  • Contact our consultants (info@cascaisvilla.net): provide your basic information, so we can send you an invitation for applying for a business trip schengen visa.
  • Contact the portuguese diplomatic mission that serves your region and, if applicable, obtain a valid schengen visa from the portuguese embassy or consulate in your country.
  • Obtain a copy of your criminal record from the authorities of the country in which you have most recently lived during at least one full year and have it certified by the portuguese consulate or by the apostils of the hague convention.
  • Documentary evidence of the eligibility of family member applicants other than the spouse and under 18-year old children will be required (if in doubt, please contact us about this).
  • If your documents are not in portuguese or english, obtain certified translations by a portuguese consulate-recognized translator of: (1) your passport; (2) your criminal record; (3) your health insurance policy, which must cover medical and hospital care in Portugal (you haven’t got this you may purchase it through your portuguese bank); and (4) your driving license or recent utility bill.

STEP 2 – VISIT TO PORTUGAL: PROPERTY SELECTION, LAWYERS, FISCAL REPRESENTATIVE, BANK ACCOUNT AND SEF

  • Meet with any of our consultants to find out more about the properties available in Portugal. We are currently marketing a range of properties :
    1. Residential properties: apartments and villas to live or lease
    2. Touristic apartments or villas (ideal for short-term rentals), in some cases with guaranteed return
    3. Buildings or palaces for renovation
    4. Commercial properties, including shops, and offices
    5. Hotels and resorts
    6. Wine and olive farms
  • Start your one-stop shop of real estate property. We will bring you to visit not only our properties, but also other properties from other real estate agencies.
  • Once you select a property, we will recommend you a trustable and full-experienced law company as well as a fiscal representative.
  • Lawyers will be responsible for golden visa application requirements and procedures, as well as for property due diligence, including confirming: the title of the property, if the person or company selling actually owns the property, whether there are any outstanding charges or costs associated with the property, if the appropriate building licenses or permissions are in order should you buy a plot of land or building for renovation, and that the terms and conditions stipulated by the vendor are fair and legal
  • Lawyers will be granted power of attorney to represent you and sign the promissory contract and definitive contract.
  • The fiscal representative will get you a portuguese tax number, required for the purchase, and manage your tax issues in Portugal on an ongoing basis
  • On the day of visit to the lawyers’ office, besides making the property reservation, appointing a fiscal representative, they will assist you on opening a bank account at a portuguese bank and schedule an interview at SEF (foreign exchange services) to give your biometric data and information.

STEP 3 – PROMISSORY CONTRACT, FINISH PAYMENT, DEED OF TRANSFER, AND PROPERTY REGISTRATION

  • To complete the purchase, your lawyer will need to prepare the promissory contract. This contract stipulates the details of the purchaser, vendor and property, payments, timings, etc, which have been agreed between the parties. You can either attend the signing in person or grant your lawyer power of attorney to attend and sign on your behalf the promissory contract.
  • Most of the time, investors will need some time to transfer all the money into their portuguese bank account to finish the payment. (warning: to apply for the golden visa, you must have the record of transferring more than 500k euros to your bank account).
  • After you have transferred the funds, the deed of transfer will be signed. The deed of transfer is signed in the presence of a notary who will ensure that the title deeds have been exchanged and all conditions have been understood by all parties concerned. Following the signing of the deed, the notary bears witnesses to payment, or an acknowledgment that the full payment has been made, and this fact is incorporated in the title deed.
  • Property registration: after signing the deed of transfer, your lawyer will take a notarized copy of it to the land registry for registration and payment of fees.
  • You are then an official owner of property in Portugal!

STEP 4 – GOLDEN VISA APPLICATION

After finishing the investment, the lawyer will be able to complete your golden visa application. Reminder: all documentation below needs to be delivered:

Documentation necessary:

  • Passport or travel document with a validity of at least three months.
  • Valid schengen visa
  • Proof of lawful entry in Portugal
  • Proof of health insurance
  • Request for consultation of criminal record at sef (to be declared at the time of the request)
  • Certificate evidencing that the applicant has not been found in default by any court of law (preventive)
  • Sworn affidavit by the foreign national, attesting that the same will comply with the minimum quantitative and time requirements regarding the investment activity in Portugal.
  • Declaration issued by the portuguese tax authorities and social security attesting the inexistence of any debts of the foreign national to the said entities.
  • Criminal record certificate of the country of origin and of the country where the applicant has resided for more than a year, duly recognized by the portuguese authorities (authentication by the portuguese consulate or apostille)
  • Proof of real estate property investment.
  • Documentary evidence of the eligibility of family member applicants other than the spouse and under 18-year old children will be required (if in doubt, please contact us about this).

STEP 5 – THINGS TO DO ONCE YOUR GOLDEN VISA IS APPROVED

  • Pay the visa issue fees.
  • Collect you resident permit card (the lawyers can be send them you to express mail).
  • Renew your golden visa on time. For renewal of the golden residence permit, applicants must keep their investment, and demonstrate that they have stayed in Portugal for at least 7 days in the first year, then 14 days in each subsequent period of 2 years. Therefore you should keep as proof: invoices, airplane tickets, and hotel stays. After year 5, you may apply for permanent residence.

DOCS

Provided by client:

  • Valid passport, schengen visa and travel document (all family)
  • Birth certificate (all family, apostilled and translated)
  • Marriage certificate (apostilled and translated).
  • Document that states that the children are dependent from fathers, if they’re over 18 years (apostilled and translated).
  • Absence of criminal conviction (criminal record) (all family, apostilled and translated).
  • Proof of address (e.g. utility bill, bank letter)
  • 2 passport-type picture (all family)

Law office takes care of:

  • Portuguese fiscal number
  • Proof of valid medical insurance valid in Portugal
  • Proof of legal entry and permanence in national territory
  • Declaration proving the absence of debts issued by the inland revenue and customs authority and by the social security
  • Updated property documents showing ownership of property, or
  • Signed promissory contract with payment of a deposit above € 500,000
  • Declaration from a bank in Portugal confirming the transfer of the funds
  • Absence of notice from the portuguese immigration authorities or schengen services
  • Declaration from the investor confirming compliance with the investment requirements for 5 years

Additional documentation necessary for family members:

  • For children over 18 years old, documentation proving they need their parents support
  • For elder family members, if they are not over 65, documentation proving they need their children’s support

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