How to get a residence permit in Portugal by buying a firm
Portugal's Golden Visa is an opportunity to obtain a residence permit when buying a company. To do this you must create at least 10 places of employment in the business, which belongs to the applicant for a residence permit. Alternatively, you can hire 8 new employees, if the company operates in a sparsely populated region. Another way - invest €500 K in an existing company that must create at least 5 jobs, and people will work for at least 3 years.
What gives Gold Visa
Gold Visa is a program which grants a residence permit to foreign investors, who live outside the EU and Schengen area. It is a permit to live legally in Portugal, if the applicant will invest in the country. Subsequently, the holder of the Gold Visa can apply for permanent residence permit or citizenship.
Thus, thanks to the Gold Visa the country receives a number of resources that are used to:
- stimulating the local market;
- investment in infrastructure;
- improving the welfare of the population.
The investor, in turn, receives a number of benefits associated with residency. Among them - the ability to legally reside in Portugal, to travel around the EU. And the investor does not have to stay in the country for a long time. It is enough to spend 7 days in the first year, 14 days each subsequent year. When buying a company you can claim a special tax regime for non-permanent residents, which provides many benefits.
Who is eligible for the Portuguese Golden Visa
Buying a company is an ideal option for investment. The applicant does not need to register from scratch. It is enough to choose a ready-made business, check its success in the market before the purchase. If an investor is looking for a going concern, a thorough analysis of the company is needed. It is also possible to buy a shelf company that was registered, but did not work anywhere, and to develop it.
To get a residence permit, the investor must meet one of the following conditions:
- Use €500 K to increase the share capital of a commercial company, the main office of which is located in Portugal. It is necessary to keep or create 5 jobs for a period of 3 years;
- Create at least 10 jobs in a densely populated area. This can be done after the purchase of the company. Employees must be registered in the social security system, obtain a certificate;
- Transfer capital of €1.5 million to a deposit account at a credit institution in Portugal. The purpose is to purchase Portuguese government bonds, as well as the purchase of undocumented securities;
- Establish a company with a capital of €500K. The office must be in Portugal, with a staff of at least 5 people.
- It is important to understand that one investment is not enough. Investment activities must be carried out at least 5 years after obtaining a residence permit.
If the conditions for obtaining a residence permit in Portugal 2022 - the creation of jobs, the position must be current for at least 3 years.
Documents for the Golden Visa for the purchase of the company
- A copy of your passport and travel documents;
- Statement from your bank in Portugal, confirming the transfer of funds;
- Certificate of health insurance in Portugal;
- Certificate of no criminal record;
- A completed form authorizing the SEF to obtain a copy of your Portuguese criminal record;
- A personal statement that confirms compliance with investment requirements;
- Documents from the tax and customs office and social security. These can be issued 45 days before the online application;
- A receipt that confirms payment of the application fee.
Price of Gold Visa
To obtain a permit, you have to pay the state fees:
- Application fee for €533, plus €84 for each family member of the investor;
- Visa fee is €5,336.4 for the visa holder;
- Renewal fee at the end of the 2nd and 4th years - €2,637.2 for each visa holder;
- Renewal fee for subsequent years - €533 + €84 for each family member.
How quickly the Gold Visa is issued
The decision to grant a Gold Visa is made within 3-6 months. It is not possible to live in Portugal for a long time before it is granted, if there is no authorization. If the result is positive, a residence permit will be issued, which is valid for one year. Then it can be extended twice every 2 years. Starting from the 5th year, you can apply for Portuguese citizenship.
How to quickly obtain a residence permit
To buy a business in Portugal and obtain a residence permit, contact IT-OFFSHORE specialists.