Portugal Overview
Portugal is the westernmost country of mainland Europe, situated on the Atlantic seaboard, and a member of the European Union since 1986. It is a developed country with a very high Human Development Index.
While Portugal is shifting towards business services, a third of its economy remains in manufacturing. It is also the world’s largest supplier of cork and enjoys the benefits of a strong tourism industry. With little of its own hydrocarbon energy resources, Portugal is committed to creating renewable sources of energy such as hydro, wind and solar power. Over 40% of the energy created in Portugal is from such resources, including the most efficient wind tower in the world.
A relatively small country of approximately 11 million people, Portugal is considered very safe and boasts a low crime rate. Its healthcare is well developed, offering both public and private systems. Portuguese is the main language, but English is also widely spoken, particularly by younger people and especially in the tourist regions. The country is a member of the Schengen area and has used the Euro as its currency since 2002.
Key advantages of Residence in Portugal
- It is a fast process, potentially less than two months and requiring only one visit
- Visa free travel within the Schengen area
- Low physical presence requirements
- Five years residence counts towards citizenship
- Excellent international and Portuguese schools and universities
- International quality health care clinics and hospitals
Residence in Portugal
All holders of a Schengen residence identity card or passport may enter Portugal for up to 90 days without a visa. Specific visa requirements may apply for non-EEA nationals, depending on their nationality. A foreign national may not spend more than 90 days per six month period in the country without a residence permit.
As with most European Union member states, if foreign nationals want to reside and settle in Portugal for longer than three months, they must apply for a residence permit within 90 days of their initial legal entry into the territory.
Residence permits for non-EU nationals may be granted under one of the following two programs:
- The Golden Residence Permit Program, via specified investments
- The EU Blue Card, via highly qualified employment
In both economic categories, residence permits can also be granted to family members of a successful main applicant through the family reunification procedure.
Golden Residence Permit Program
Portuguese residence permits via investment for non-EU nationals provide an opportunity to obtain residence status, and contribute towards eligibility for a citizenship application after six years as a resident.
Previously, residence was granted where investments were made into Portugal in one of the following forms:
| i) | The purchase of real estate of EUR 500,000 or more |
| ii) | Capital investment of at least EUR 1 million to a Portuguese bank account or flexible investment |
| iii) | The creation of at least 10 jobs in Portugal |
In September 2015, four new qualifying options were introduced.
The new options for Capital Investment are:
| i) | The transfer of funds of at least EUR 350,000 to be applied to research activities carried out by entities which are part of the national scientific and technological system |
| ii) | The transfer of funds of at least EUR 250,000 to be applied in investment or support for artistic production, or the recovery or maintenance of national cultural heritage |
| iii) | The transfer of funds of at least EUR 500,000 for the acquisition of units in investment or venture capital funds for the capitalization of small and medium size companies |
The new option for Property Acquisition is:
| iv) | The purchase of a property for the minimum amount of EUR 350,000 for the purpose of refurbishing it, for properties that were constructed more than 30 years ago or are located in areas of urban regeneration. The EUR 350,000 threshold includes not only the property’s price but also the investment in the refurbishment works |
There are minimum residency requirements in order to qualify for the renewal of the Golden Residence Permit. However, these are very modest: seven days during the first year of residence in order to be entitled to the first renewal, and 14 days over the two subsequent two year periods necessary for renewals.
EU Blue Card
An alternative means to obtaining residence in Portugal using the economic route is through the EU Blue Card Program, which was also introduced in October 2012 and provides an opportunity for highly qualified individuals from non-EU countries to reside and work in Portugal subject to meeting the criteria outlined below.
Applicants for the EU Blue Card will be asked to provide the following:
- A contract or binding job offer with a salary of at least 1.5 times the average gross annual salary (or 1.2 times in certain professions). The OECD recorded annual gross salary for 2011 was Euro 17,000
- Proof of health insurance or evidence that the applicant is covered by the National Health Regime
- Proof of registration with Social Security
- For regulated professions, documents establishing the applicant’s stated qualifications and, for unregulated professions, documents establishing the relevant higher-level professional qualification