Better known as a Golden Visa, this is a special residence permit granted on the basis of investment activity. All non-European citizens (people not resident in any of the member states) can apply for this residence permit.
What are the main benefits? It grants permission to live, work and study in Portugal, as well as move freely throughout the Schengen area, and, after five years, it grants eligibilty for a permanent residence permit, as well as Portuguese citizenship through naturalization. This is also beneficial as both of these options do not require you to actually live in Portugal. Other benefits of Portuguese residency include, among others, access to the Portuguese universal public health system, and the fact that Portugal is considered a safe country.
What are the main methods of investment? Investment methods include the creation of 10 jobs in Portugal, which implies the creation of a company; another means is the transfer of capital to Portugal in the amount of one million euros; another is to purchase real estate worth 500 thousand euros (the most common investment method); there is also the possibility of investing a little less, 350 thousand euros, in the real estate market under the following conditions: the property acquired must have been built more than 30 years ago or be located in an urban regeneration area, with rehabilitation works to be carried out as required by law. In some cases, when the property is located in an area with a low population density, the investment value could even be 20% lower than 500 thousand or 350 thousand euros.
When applying for the Golden Visa, some documents are frequently requested, such as a criminal record, bank statements, birth certificates, or tax returns - essentially, any documents that prove citizenship with no criminal record and considerable financial capacity for investment. Other documents required in the application process may include a certificate of incorporation or, for example, the deed or contract for the purchase and sale of property. In this case, documents may need to be translated to ensure the candidate understands all the terms and conditions of their investments. The certification of these translations is also useful in avoiding any misinterpretation between languages by minimising the risk of any clause being mis-translated. In some cases, the certified translation of these documents is a specific requirement for validation. We Translate On Time specializes in certified translations in over 65 languages, with a database of over 800 translators. We have extensive experience in translating documents for these investment schemes and are always available to provide any additional information.