Question 1

What is the Portugal Golden Visa ?

Accepted Answer

The Portugal Golden Visa is a residency-by-investment program that qualifies non-EU investors to make a qualifying investment in real estate or an SEC-approved venture capital fund, to obtain a residency permit for investors and their qualifying family members. For the real estate investment options, the investor is required to invest a anywhere between EUR 280,000 and EUR 500,000 depending on the type of property, location and legal framework in place in that region. For investors choosing to invest though the SEC-approved investment fund option, the minimum qualifying investment is EUR 500,000 with the maturity of at least 5 years. The perk of the Golden Visa is that investors are only required to reside in Portugal at a minimum 7 days per year, or 14 days per two years. The minimal residency requirement of this program does attract many investors who plan to invest overseas, without the obligation to relocate or spend significant time in-country. It is to note that for those who do plan on spending significant time in Portugal, they may become eligible in the non-habitual resident tax regime and therefore benefit from tax incentives. The Golden Visa program allows family members such as parents, spouse and children to qualify as well, and all applicants would be allowed to live, work, and study in Portugal if they desire. Suggesting the investors (and the qualifying family members) meet certain conditions after 5 years, they may opt to apply for either permanent residency or citizenship, subject to a basic Portuguese proficiency.

Question 2

What is the Portugal Start-Up Visa ?

Accepted Answer

The Portugal Start-Up visa requires you to make a financial commitment of at least EUR 175,000 into a business incubator in Portugal, of which EUR 25,000 will be used as the initial capitalization for the venture. For business entrepreneurs who are looking to operate or expend their innovative business in Portugal, a Portugal Start-Up Visa may be your answer. Similarly to the Golden Visa, the Portugal Start-Up Visa (“SUV”) will allow South Africans the possibility to live, study and work in Portugal. However, it is worth noting that the SUV program does not have any residency requirement, and the success or failure of the business enterprise will not have an impact on the result of the SUV application. To be eligible for the Portugal SUV program requires the investor to have an existing start-up project or at the very least, looking to begin one. A business plan is required in order to prove the seriousness of the idea. To apply for the program, entrepreneurs must submit their business plan and innovative idea in order to gain the support from a Portugal immigration-approved business incubator for a 3-year incubation period. Once approved, the Portugal Start-Up Visa will be valid for up to 2 years. After this time, applicants and their dependents may apply to extend this visa for another 3 years suggesting certain conditions are met. After the initial 5-year period, applicants and dependents can either apply for a renewal of their visa or apply for permanent residence or citizenship, on condition that is evidencing language proficiency of CEFR A2. However, in some cases, the language requirement can be removed at the discretion of local immigration authorities if it is decided that the applicant is trying to contribute to grow the business enterprise and the economy.

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