There is a clause in the Permanent Resident Permit Regulations for PR for investment purposes. From the SEF website:
To the citizens holding a residence permit for investment purposes and their family members, complying with the requirements provided in article 80 of the Aliens Act and wish to be granted with a permanent residence permit, a permanent residence permit for investment purposes shall be issued, exempt of the provided in article 85, n.ºs 2, 3 and 4, subparagraph b) of the same diploma (cancellation of the right due to absences from the national territory, see article 65-k of the Regulatory Decree 84/07 of 5/11, as amended). The Permanent Residence Permit for investment purposes may be subject to specific fees of analysis and issuance, to be regulated by amendments to Ordinance 1334-E/2010, of December 31.
Unfortunately, I cannot read Portuguese yet. However, on the face of it, it appears that a PR for investment pruposes does not have to spend the minimum required time for other the general PR regime. Does he/she still need to spend 7 days per year? Does he/she still need to maintain the golden visa investment? I have asked a few people in the GV business but nobody has been able to give me a convincing answer.
I don’t want to create another thread but the following questions are not related to the original question but I haven’t received a convincing answer for these either:
If the principal GV applicant applies for a PR or citizenship, what becomes of the family members who still have not completed 5/6 years as temporary residents? Will they be able to renew their own permits? Will the principal applicant need to maintain his/her investment?
What happens to the children of the principal applicant born outside Portugal during the time the PA is a) a temporary resident b) permanent resident? How will their applications work out?
Hi
What is the basis of valuation of Property in Portugal for GV. I recently found that a flat in Lisbon was being for 2,80,000 Euros when bought under GV but around 2,30,000 Euros when brought normally. I failed to understand how the Government machinery will
value the flat at different rates.
What makes you say that it is the government valuing the property?
What sometimes happens is that property owners increase the selling price when they know that the potential buyer is a future GV applicant.
From what I understand, you’re talking about market price, which has nothing to do with the government or the GV. The government will evaluate each property for tax purposes but that is totally unrelated to the market price.
Like I said, property owners will systematically increase sale prices when targeting GV applicants. This is why having local expert (real estate) advice is so important.
You can find information on price per sq2 in the area you are looking for. This will vary depending on the type of property and on how old it is. Apart from speaking to a local real estate expert, my advice would be to look at similar properties (to the one you are looking for) in different websites, ideally within the same area. This should give you a first impression on whether prices have been inflated or not
I have a police certificate that has been attested by the Portugal embassy in Canada, is it still better to get it authenticated by Global Affairs Canada as well? (the ministry of foreign affairs)
It was not required the last time I renewed my GV residence permit.
On another note;
While I’m aware that I need to submit a police clearance certificate from the country I predominately reside in,
Is it better to also submit a police certificate from a country that I have only spent 3 months in this year, where I have a temporary resident permit, and less than a month in each of the other years before?
I’ve held a GV for well over 5 years, (not including the time I once waited for over a year for it to be renewed)