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Portugal's Law no. 29/2012 of 29 August 2012 (as amended and regulated) created a special regime called “ARI” (Autorização de Residência para Actividade de Investimento), which quickly became known as the “Golden Visa”.
Essentially, under this regime a residence permit allowing visa-free travel within the Schengen Space is granted to a non-EU/EEA/Swiss citizen (and his/her dependants) who makes an investment in Portugal of at least 250,000 Euros or creates a minimum of 10 new permanent jobs in the country.
This regime is administered by SEF, the Portuguese borders and foreigners agency.
All third country citizens who conduct an investment activity, as an individual business person or through a company set up in Portugal or in another EU Member State and who, in addition, are stably settled in Portugal, provided these citizens fulfil the quantitative requirements and the time requirements set out by the relevant legislation, may apply for a Residence Permit for Investment, by one of the following routes:
Portuguese, EU and EEE nationals are not eligible for the ARI / Golden Visa scheme.
Permanent free entry and circulation in Portugal and the other 25 Schengen Space countries
Freedom to live and/or work in Portugal (the minimum stay requirements are 7 days in the first year and 14 days during each of the two subsequent 2-year periods, whether or not consecutive), while keeping another residence (if so wished) in another country.
Benefits are extensible to the investor’s spouse or partner, under-aged or dependent children of either spouse or partner, dependent parents of either spouse or partner, and under-aged siblings of either spouse or partner if legally under their supervision.
Option to obtain permanent resident status after 5 years of having made the initial investment.
Option to acquire Portuguese citizenship after 6 years of having made the initial investment.
Option to become a "non-habitual resident" for tax purposes, paying little or no tax for at least 10 years.