The Portuguese property investment immigration policy is based on the "Golden Residence Permit." Investors only need to invest in real estate projects worth 500,000 euros or more in the country to apply for immigration, which features fast approval and relaxed requirements. Portugal is both a member of the European Union and a Schengen country. Applying for immigration to Portugal is an excellent way to enter the European Union and the Schengen Area. The associated high-level benefits are highly regarded by many who are interested in investment immigration to Europe. In 2017, Portugal introduced a new immigration policy. How does this new policy compare to the previous one?
Change 1: Removal of the requirement for dependent children over 18 to be enrolled in school in Portugal
The original policy stipulated that the main applicant who successfully obtained a "Golden Residence" visa could bring their spouse and unmarried children under 18. If children were over 18, they had to meet three conditions: be unmarried, be enrolled full-time in a Portuguese school, and be financially dependent on their parents. According to the new policy, effective July 1, dependent children over 18 who are financially dependent on their parents, unmarried, and currently enrolled in school meet the requirements for family reunification and can apply for the "Golden Residence" visa together with the main applicant.
Change 2: Clearly defined processing times for the "Golden Residence" visa
According to the new policy, the relevant Portuguese authorities must respond to initial application approvals within 90 days and to renewal approvals within 60 days. This measure not only effectively urges the relevant departments to ensure or even improve approval efficiency but also provides applicants with a clear timeline while waiting for visa processing.
Change 3: Addition of four new application channels and investment incentives
In addition to the existing application channels of "purchasing Portuguese real estate worth no less than 500,000 euros," "transferring capital of no less than 1 million euros to Portugal," and "creating at least 10 jobs," the new policy has added the following four application channels:
1. Investing 350,000 euros or more to purchase properties that are over 30 years old or located in urban renewal areas;
2. Investing 350,000 euros or more in public or private scientific research centers in Portugal;
3. Investing 250,000 euros or more in artistic production projects, or projects for the restoration or maintenance of national cultural heritage;
4. Investing 500,000 euros or more in investment funds or venture capital funds, provided that these funds are used to finance small and medium-sized enterprises in Portugal.