Portuguese Golden Visa holders can apply for the permanent resident status and citizenship. The legislative framework of the Portuguese residency by investment program changed several times during the last years. The related Law of the Nationality has also been changed recently during the summer of 2018. To obtain the permanent resident status for the investors, there are only a couple of additional requisites upon termination of the Golden Visa scheme (officially ARI - Residence Authorisation for Investment Activity) for the applicant:

• not has been sentenced to more than one year in prison
• can prove that has sufficient means of subsistence
• has a residential address in Portugal
• speaks a basic level of the Portuguese language

According to the amended nationality law, the candidates may apply for the Portuguese citizenship after five years instead of the previous six years period. It means that the holders can apply for the mentioned citizenship after the five years of the Golden Visa residency by investment scheme. The actual requisites for the Portuguese passport for the applicant are:

• must have been resident in the country for at least five years
• must prove a reasonable knowledge of the Portuguese language
• cannot have been convicted to a jail sentence of three or more years
• the applicant also cannot represent a danger to safety related to terrorist activity.

It is not a coincidence that the Portuguese Golden Visa closed a superb October, the invested amount doubled since the month before and reached the 74 million euros limit, according to the latest figures from the SEF (Foreigners and Borders Service). In October 125 visas were issued, 118 of which by real estate purchases. Seven investors preferred the capital transfer option. Interestingly, only 19 investors chose the "urban rehabilitation" option, where the investment threshold is lower. Click here for the detailed information on the Portuguese Golden Visa or contact us for a consultation!

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