Golden Visas. Commonly referred to as residency by investment or citizenship by investment, is a European directive, designed to attract foreign national wealth to EU nations. Golden Visa candidates are granted full residency or citizenship in exchange for a defined economic contribution.
In volatile financial marketplaces, Golden Visas are key to optimising a high-net-worth portfolio as well as acting as an insurance policy against economic and political risk. They offer the holder enhanced global mobility as well as the option of relocation to a more favourable jurisdiction (either now or at retirement) and accessing full rights as a resident. This includes the right to live, work, study and receive health care, typically unavailable to non-residents and tourists.
A Golden Visa provides an investor and their families with access to new marketplaces, as well as a host of career, educational, tax and healthcare opportunities. These opportunities are in turn available for future generations to benefit from. Typically, as a Golden Visa Holder, you can:
- Secure an alternative safe-haven
- Expand and enrich your business opportunities and lifestyle
- Access local healthcare facilities
- Access to local educational institutions
There is legislation in place relating to Golden Visas in over 100 countries, on five continents, including over 60% of EU member states. The Autonomous Region of Madeira, Portugal (RAM) boasts an excellent reputation, with a rich history, excellent quality of life and lively culture, as well as stunning natural beauty.
Madeira Estate work with you to help you find your dream property in Madeira and can also help with all the administration making your dream a reality and relocating to Portugal.
Requirements for obtaining the Golden Visa in Madeira
• Initial investment, in line with current obligations.
• Clean Criminal record certificate from country of origin
• Proof of legal entry into Madeira, Portugal
• Evidence of compliance with Portuguese tax and social security obligations
• Commitment to maintaining investment in Madeira for a minimum of five years
The visa will allow you free access to the EU Schengen area.
Visa holders must spend a minimum of seven days in Madeira during the first year and 14 days for each subsequent 2-year period. After five years, Golden Visa holders can apply for permanent residency and after 6 years, an application for Portuguese citizenship may be submitted.
Changes to ARI/Golden Visa Requirements
As of 1st January 2022, changes in the Portuguese legislation relating to Golden Visas state that no investment can be made within high-density areas of Portugal, apart from Madeira Island and the Azores. This change in legislation is designed to promote investment in lower-density areas, creating fair opportunities across the country.
The minimum investment has risen from 350,000 to 500,000 Euros and Capital Transfer has increased from 1 Million Euros to 1.5 Million Euros.
How to obtain a Golden Visa
To apply for a Golden Visa in Madeira typically involves obtaining a Portuguese Bank Account and Fiscal Number (NIF), followed by the real estate investment transaction. Once the investment/transfer of capital has been completed, an application for a Golden Visa is submitted to Serviço de Estrangeiros e Fronteiras, followed by a biometric appointment.
Madeira Estate is a leader in the Madeiran property market, with a professional and experienced team who can competently guide you through the process. Located in the heart of Funchal, Madeira’s main city, we can connect you with Madeira Company, which can help you through the process of buying your dream home and navigating all of the legal requirements.
For more information, contact a member of our team today and discuss your individual requirements.