Portuguese Residence Permit for Contribution to Cultural Development

Portugal is a beautiful European country with a measured rhythm of life, wonderful climatic conditions, and a high standard of living. To obtain and maintain residency in this country, it is not necessary to move here permanently. Unlike many European countries, in Portugal, you can spend only 7 days a year and be a full resident. With a residence permit in Portugal, you can freely live on the territory of the state, get a job, run a business, enjoy quality medical services and social benefits, receive education, and even minimize the tax burden for individuals and legal entities.

Today Portugal offers to get the resident status to wealthy investors for money. For them, there are quite loyal conditions of participation and affordable investment fees. The country has developed a whole state program that allows you to get a residence permit for investment with several options for participation and various financial investments: investment in securities and assets, contribution to the development of science and culture, business registration and job creation, and transfer of capital.

The investment entrance starts from 250,000 €. The terms of obtaining a residence permit are 6 months.

Advantages of a residence permit in Portugal for investment

If you are still pondering which country's residency status you need, the experts of the international company GARANT.in have prepared for you a list of benefits that you get together with a residence permit card for Portugal:

1. New status for the whole family. The authorities of Portugal allow to inclusion in the application of the main investor husband/wife, children under 25 years old, and parents. It is allowed to include the above-mentioned family members even after obtaining the new status.
2. Ability to freely enter/exit Portugal and live in the country for an unlimited period. The time of legal stay/residence is limited only by the validity period of the residence permit card.
3. There is no need to stay in the country permanently. To maintain the status it is enough to stay in Portugal for 7 days annually.
4. Possibility to formalize tax residency. The special tax status Non-Habitual Resident, or NHR ended on 01.01.2024, but residents who had time to apply before that time can still qualify for it. In NHR status, it is allowed not to declare and pay taxes on worldwide income and to pay income earned within Portugal at a flat rate of 20%.
5. The investor and his family do not need to learn the language or pass an exam to obtain residency status.
6. Opportunity to receive a prestigious education in Europe. The residence permit status allows the applicant to enroll a child in a kindergarten or general public school free of charge. Also, such children can study for free in some universities in Portugal.
7. Prospective chance to continue migration and obtain a passport of the country. After 5 years in the status of a residence permit, provided that the legislation of the country is complied with and there are no other violations, the investor and his family can apply for citizenship. An additional advantage - they do not need to comply with the requirement of continuous presence in the country for 6 months a year, as other applicants.

Features of the Portuguese residence permit program:

• children over the age of 25 cannot be included in the application - they will need to apply independently and separately;
• to formalize tax residency should live in the country for 183 days a year.

"Golden Visa Portugal" - changes in the program

The program of obtaining a residence permit for an investment contribution (Portugal Golden visa) has been operating in Portugal since 2012, and during this period the government has managed to attract more than 7.3 billion € to the treasury. Over the past 10 years, the new status has been granted to more than 11.5 thousand applicants and about 18.8 thousand of their relatives and family members. The most popular option for participation was the purchase of real estate, which eventually led to a sharp rise in the price of housing and even created security risks for citizens.

To counter real estate speculation, it was decided to revise or completely close the program. The first attempts were initiated almost 2 years ago - at the end of 2022, and in early 2023 the authorities again raised the question of the expediency of keeping the program. At that time, the decision to completely close the project caused a storm of indignation, and the issue was again postponed.

Fighting the housing crisis prompted the government in October 2023 to approve the bill "More housing", and note the possibility of obtaining a residence permit in Portugal for the purchase of real estate. The abolition of this option allowed investors to take a fresh look at other options. The option to invest in the country's cultural heritage has become particularly popular.

Obtaining a residence permit in Portugal for a contribution to the development of culture

At the moment, the Portuguese authorities have prepared a bill that allows you to get a residence permit for investments in the cultural sector of the country. This is a fairly simple, affordable, alternative option for financially secure candidates to participate in the program. Choosing the option of participation in "support of culture and art", the financial resources of applicants are redirected to public and private foundations and cultural associations that are engaged in the restoration of the national heritage of Portugal.

By choosing to obtain a Golden Visa through cultural heritage support, the investor can choose the following options:

• investment in artistic projects - exhibitions, theater productions, literary collections, theatrical performances;
• investments in cultural heritage objects - architectural and historical monuments, valuable archival information, and archaeological finds.

Any monetary donation must be pre-approved by the Directorate General of Arts (DG Artes) or the Institute for Conservation and Restoration and contribute to the development of Portugal's culture or heritage.

There are 2 participation options with a fairly low investment threshold to enter:

1. Cultural Heritage Development - from 250,000 €.
2. Investment in research and scientific works - from 500,000 €.

The application form and supporting documents can be submitted online. After checking and analyzing the submitted documents, in case of a positive verdict, the candidate must visit the Agency for Minorities, Migration and Asylum (APMMA) located in Portugal. The timeframe for the review of applications is 6-12 months.

The primary residence permit is issued for one year and can be renewed 2 times for 2 years. In total, the applicant can live in the status of a residence permit for 5 years and then apply for citizenship. During this period, withdrawal of investments is not allowed, otherwise the status will be immediately revoked.

Apply for a residence permit is allowed to adult applicants, without a criminal record, who were able to confirm the legality of the capital received.

Documents for obtaining a residence permit in Portugal for contribution to the development of culture

The following list of documents is basic and may be adjusted and supplemented with various certificates and documents, depending on the applicant's situation:

1. A valid passport of the investor and his/her family members is mentioned in the application.
2. Temporary visa to enter Portugal.
3. Health insurance for each family member with coverage of 30,000 € or more.
4. Tax number or TIN issued in the resident country.
5. Marriage certificate if the applicant's spouse is included in the application.
6. Birth certificate of children, if they are named in the application.
7. Document confirming the investment contribution.
8. Papers confirming income and taxes paid.
9. Papers confirming the absence of tax arrears.
10. A certificate of no criminal record for each family member listed on the application, starting at the age of 14.
11. Consent to a criminal background check in Portugal for each applicant

Friends, if you want to learn more about the available options for obtaining a residence permit in Portugal or any other European country, make an appointment for a consultation with the lawyers of the licensed agency GARANT.in. We will not only help you choose the best type of residence permit suitable for your request, goals, and budget but will also provide comprehensive assistance in collecting, processing, apostatizing, translating, and submitting documents for obtaining a visa/residence permit / permanent residence permit/citizenship of another country. With us, you can be sure that the process of obtaining the desired status will take minimum effort and time, and the result will surely please you!