I am interested in seeing the actual text/law that explicitly says about this matter.
There are some situations here:
A: one had 2 years first card, 2 years second card, and now he has third card with validity of 2 years. When he completes 5 years (card based), he sells his investment and his third card still has 1 year validity. Then he requests Aima for an GV PR. Is it possible?
B: one maintains the investment while requesting GVPR and he only sells his investment after having GV PR. Will he be able to renew his GVPR ? What exactly aima will ask during the GVPR renewal?
âRegarding traveling, permanent residence does not equal EU free movement rights, but it significantly strengthens oneâs position when dealing with EU institutions, employers, and universities, and it can be a stepping-stone to EU long-term resident status.
Nevertheless, it is not a passport and does not give access to Portuguese visa free agreements.â
My TR card gives me free travel right within Schengen area. Does it mean that PR does not give this convenience?
EU âFreedom of movementâ granted to EU Citizens is a much bigger dealâŠ
the right to look for a job, work, and reside in another EU country without a work permit, and to enjoy equal treatment with nationals in terms of employment, working conditions, and social/tax advantages.
Donât let the GV shills allow you to think PR is âalmost as good as Citizenship,â now that Citizenship is much harder for them to promote.
It doesnât explicitly say that you can sell (it would be strange if it did, TBH), but it is not listed as a requirement to maintain the investment and AIMA has also clarified that itâs not required.
What was said in the recent webinar hosted by Madalena Monteiro was that you should keep the investment until youâve been granted the PR just in case of any issues with the applicationâand either way at the very least you need to have it at the point of application.
There isnât really a renewal of the PR right per se (you donât need to qualify again to maintain your PR status), itâs an administrative act to renew the card.
This is the same for the regular PR, by the way. You wonât be asked during the renewal to prove that you have been at least six months in Portugal per rolling three-year period (which is the minimum stay requirement for that permit). It would be up to the state to bring a case to revoke your permit in case they suspect that youâre not meeting the requirement.
You still need to show regular items such as proof of available accommodation (can be a contrato de comodato or similar), no tax/social security debts in Portugal, etc. I believe this goes for both PR types.
This is the catch. If aima has already clarified, then there should be written format on Aimaâs site. If they only clarified verbally without publishing a concrete text (in seminars or in a meeting between Aima and lawyers), I would not put any trust on it. To deal with Aima, even with clear text written by Aima, it is still challenging. Without having any concrete document to support, i would not sell investment until having citizenship.
Although some lawyers said that investors would be free to sell investments after having GVPR, the truth is that there is no success case so far. Iâve never seen/heard/knew about a PRGV holders with (or without) the investment intact.
Even in writing is meaningless if they can change the policy later. AIMA clarified that they were counting citizenship time from application but that means nothing going forward if the policy changes.
Well, it is a form of EU residency. If you use your PR to spend 5 years in the EU, then it is a stepping stone to EU LTR. There is no requirement that your 5 years to count for EU LTR have to be contiguous that Iâm aware of.
Granted of course many people arenât getting their PR to be able to spend tons of boots-on-ground time in the EU. But some are - they want to spend time in PT or the EU, just not necessarily as much as is required by D7/D8/etc. So maybe they reach EU LTR in 10 years instead of 5.
Itâs a stepping stone, but no more of a stepping stone than any other type of residence permit is, just perhaps more flexible.
As far as I know, EU LTR requires at least 6 months per year in the county where you want to apply for EU LTR. The only country Portuguese PR lets you spend 6 months in per year is Portugal (other countries are limited to the 90/180 Schengen rule). But you could already do that with plain GV.
In principle if they have held GV for 5 years and passed A2 Portuguese they can apply for the GV Permanent Residence and once that is granted their status is independent going forward, no need to prove connection to the investment applicant anymore.
Provided they meet the 7 day / year stay requirement and renew their card every 5 years it should be for life.
If you count fund managers âbut nothing has changed! you can still get PR!â nonsense when I told them they wouldnât have my money if not for counting days from application towards citizenship clock, I have big feels right now and Iâm therefore doing a refresher course on my options? ABSOLUTELY!!
What does anyone expect? With so many people pissed off and considering looking for the exits, all you can do is hope to convince a few people to stayâŠ
Wonât the temporary â permanent residence GV shift cause thousands of fund investors to buy homes/apartments in Portugal they keep empty? One of my closest friends is in Portugal, but Iâd feel awkward asking him for a contrato de comodato knowing his place is too small.
Thank you Sir. Still not clear on what happens if my son finishes university and becomes independent before completing 5 years GV residence. Can he continue with the program (though independent) to complete the 5 years GV residence and then apply for PR
I am not aware of an exemption in the law for GV PR holders when it comes to declaring a Portuguese address.
Though a contrato de comodato should be sufficient, e.g. if you have a friend that will âhostâ you for free.
Not sure if thereâs any exemption in practice, but I know other countries have the same practice. See for example Maltaâs MPRP; even after youâre allowed to sell your investment you still need to show proof of accommodation every time you renew your card.
Hi everyone, i have below two questions, can you forward to your lawyer please and update me if possible:
Question number one: will the kids be eligible to apply for permanent visa if they are not dependent anymore based on the current law. What does the law say about it? And in case law is not clear and since the program has been around for 13 years now under the five years minimum residence requirement., would you please tell us cases that you have experienced yourself or other colleague lawyers have experienced, where by the time the parents apply for permanent residence, the kids are not dependent anymore, and in this case, was the permanent residence granted or where the kids forced out of the program
Question number two: again, basedon current law and current experiences, once the kids receive permanent residence, is it for life, or it will end at some point in time or it will be denied renewal at a point in time
