The Law no. 2/2020, of March 31 (Portuguese State Budget for 2020) introduced changes to the Law no. 23/2007, of July 4 (Entry, Permanence, Exit and Removal of Foreigners from National Territory) regarding the obtainment of a temporary residence permits which include, of course, the (ARI / Golden Visa).
Therefore, the aforementioned Law simplified the granting and renewal of Residence Permits for Investment Activity (ARI / Golden Visa), establishing that, as of April 1st, 2020, residence permits will be valid for an initial period of 2 (two) years (instead of 1 (one) year) and renewable for successive periods of 2 (two) years.1
Please note that, this change only applies to ARI/Golden Visa Applicants with grant applications pending on April 1st, 2020 and grant applications submitted after that date.
In order to clarify the legal changes introduced, please find below an updated Charter regarding the procedure for granting and renewing an ARI/Golden Visa.
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ARI / Golden Visa grant (residence permit valid for 2 (two) years *) The Applicant needs to stay in Portugal for a period of 7 (seven) or more days, in the two years. |
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ARI / Golden Visa renewal (residence permit valid for 2 (two) years) The Applicant needs to stay in Portugal for a period of 14 (fourteen) or more days. |
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ARI / Golden Visa renewal (residence permit valid for 2 (two) years) The Applicant needs to stay in Portugal for a period of 14 (fourteen) or more days. |
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YEAR |
The Applicant can proceed with the instruction of his application for Portuguese nationality at the Portuguese Civil Registry or apply for a Permanent Residence Permit with the Foreigners and Borders Service (SEF). (the Applicant has a residence permit valid for another 1 (one) year as a result of the renewal in YEAR 4) |
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YEAR |
The Applicant who does not intend to apply for Portuguese nationality or a permanent residence permit may renew his temporary residence permit for successive periods of 2 (two) years. The Applicant needs to stay in Portugal for a period of 14 (fourteen) or more days. |
*Only applicable to proceedings filed or pending approval on April 1, 2020. Residence permits issued before April 1st, 2020 remain valid for only 1 (one) year.
Footnote
1. Holders of ARI/Golden Visa cards issued before April 1st, 2020 will not be able to benefit from this new simplified regime, so their residence permit will remain valid for only 1 (one) year after which they must renew them.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
