Golden Residence

The Portuguese Golden Residence Programme or GRP is a property investment route for non-EU nationals who wish to gain residency, unrestricted EU access or citizenship in Portugal.

The programme was launched by the Portuguese government in 2012 to encourage investment, it has since generated over 8500 successful applications from around the globe. The residence permit gives the right to live, work and study in Portugal and allows free circulation in the European Union Schengen zone, something particularly attractive to the now EU divorced British.

Access the European Union

A successful applicant of the Golden Residence Visa has the right to apply for permanent residency after 5 years or citizenship route via a Portuguese passport.

Citizenship of Portugal is citizenship of the European Union and conveys the equal right to work, study and live anywhere in the European Union. The Portuguese residency card, granted by a successful application, allows the holders to travel throughout the European Union Schengen zone without restrictions.

Golden Visa holders don’t have to live in Portugal

The Golden Visa applicant and family need only one visit for a week each year.

In order to renew a Golden Visa application, the holders need to just 7 nights per annum in Portugal or Madeira to do so. Citizenship of Portugal can be granted without the applicant having resided in the country. The applicant’s direct family members and children are also able to be included in the initial application. Portugal’s Golden Visa is considered the world’s most flexible and popular Golden Visa route.

After 5 years

Under the current rules, after five years the property investment may be disposed of and permanent residency or citizenship applied for.

After having applied for a temporary or permanent residency on the fifth year, the visa holders may continue to travel freely within the EU. Only Portuguese citizenship will grant the right of residency in other EU member states. A Portuguese language test in required to obtain a Portuguese Passport and to become a citizen of Portugal.

Key Facts

Cash investment in property of €600,000
Residency for direct family members of the applicant
No requirement for Portuguese residency
Permanent residency from 5 years
Citizen route after 5 years pending a basic language test
Unrestricted EU Schengen zone access
Average visit requirement of 7 nights per annum

Portugal’s golden residence programme offers complete flexibility.
Once citizenship has been attained in Portugal, the citizen is free to dispose of the original investment.

Golden Residence in Portugal from 2021

New rules in Portugal from January 2022

Since 2012 any Portuguese property valued over €500,000 would qualify for the investment criteria of the programme. However from January 2022 all coastal areas of mainland Portugal will be withdrawn from the programme leaving only Portugal’s interior, the Acores and Madeira as investment options. The minimum value of investment will also remain the same.

Golden Residence in Madeira

The Madeira Islands are an excellent option when looking for an investment into the GRP. The islands being Portuguese are an integrated part of the European Union and qualify for inclusion into the Portuguese GRP for a suitable property purchase. Madeira having the warmest climate in Europe is an ideal base for relocation or as an ideal investment opportunity for business people looking to trade with Europe. Madeira also offers a 5% corporation tax for companies or property purchased as a company investment.

The Madeira islands are one of the world’s safest and most idyllic locations and this has encouraged many people to move to Madeira from all over the world. The pace of life in Madeira is relaxed and calm and there are interesting opportunities for entrepreneurs who are looking for the next challenge. A new resident of the Islands who is in the GRP will require health insurance, those who choose to work will pay mandatory social security and in doing so qualify for the excellent and free, state healthcare programme.

The Madeira Islands are a superb location for your potential investment with a year-round tourism that brings high quality tourists seeking above average rental quality. A property in Madeira can be income generating through the entire year providing high levels of return from short term holiday lets. Providing a rental property is luxurious, stylish and modern, the level of occupancy and returns will be outstanding. There are also no legal restrictions for rental or the subsequent income in the Golden Visa programme.

Madeira is a wonderful place to make your investment. The island is also one of the most beautiful places on earth with its own profusion of flora and fauna. Madeira is exceptionally safe, you will not have any personal security concerns during a visit or as a resident. When the advantages of the GRP programme and combined with the many tax advantages available, it is easy to see that Madeira is a subtropical island with the best of Europe plus many tropical luxuries. After all, where else in Europe grow delicious passion fruit, papaya, bananas, kiwis or mangos!