New York Apostille Expediter Harry Otto breaks down an overview of the updated list of documents required from American citizens for the 2023 Golden Visa program in Portugal:
- Application for Residence Authorization for Investment Activity (ARI)
- Passport or other valid travel document
- Proof of entry and legal stay in the National Territory
- Proof of health protection, either a document attesting to coverage by the National Health Service or an internationally recognized health insurance policy
- Certificate of criminal record from the country of origin or from countries where the applicant has resided for more than a year (certified by a Portuguese diplomatic or consular representation), issued up to 3 months before the submission of all legally required documentation and translated into Portuguese
- Proof of tax identification number or equivalent from the country of origin, residence, or tax residence
- Completion of an Application (using the approved model) containing authorization to consult the Portuguese Criminal Registry
- Declaration under Commitment of Honor, stating that the applicant will fulfill the minimum quantitative and temporal requirements (5 years) of the investment activity in National Territory
- Proof of regularized contributory status, with a negative debt statement issued no more than 45 days in advance by the Tax and Customs Authority and by Social Security, or a declaration of non-existence of registration with these entities
- Receipt of payment of the ARI application analysis fee
Documents related to the investment: For investment through the acquisition of real estate with a value equal to or greater than 500 thousand euros, the value of this investment can be reduced by 20% (400 thousand euros) when it is carried out in low-density territory (NUT III level with less than 100 inhabitants per km2 or GDP per capita less than 75% of the national average). This investment can only be made for housing purposes if it is located in the Autonomous Regions of the Azores and Madeira, or in the interior territories listed in the annex to Ordinance No. 208/2017 of 13 July. For non-housing purposes, the above does not apply. This type of investment can be carried out individually or through a sole proprietorship in which the Applicant is a partner.
The investor must demonstrate that they own the real estate, which can be done through:
- Acquiring the property under a co-ownership regime, provided that the ARI applicant invests an amount equal to or greater than 500 thousand euros, 400 thousand in low-density territory in NUTS III.
- Acquiring the property through a sole proprietorship in which the applicant is a partner.
- Encumbering the property, in the part that exceeds the minimum investment amount of 500 thousand euros, 400 thousand in low density territory in NUTS III.
- Leasing or using the property for commercial, industrial, agricultural, or tourist purposes.
The applicant must submit the following documents to demonstrate that they have made the investment in the minimum amount required:
- Acquisition title for the property or properties, or a promissory contract for the purchase and sale of the same (with a down payment equal to or greater than 500 thousand euros, 400 thousand in low-density territory under NUTS III).
- Statement from a credit institution authorized or registered in the National Territory with the Bank of Portugal attesting the international (and effective) transfer of capital for its acquisition or for payment, as a down payment in the promissory purchase and sale agreement, with a value equal to or greater than 500 thousand euros of the property or properties, 400 thousand in low-density territory under NUTS III, which embody the ARI investment.
- Certificate from the land registry office, with the records, annotations, and inscriptions in force if the acquisition of the property is made through a co-ownership regime: • Declaration signed by all co-owners attesting that the investment value of 500 thousand euros or 400 thousand in low-density territory in NUTS III is met by each of the co-owners, and that only one ARI request has been submitted per each of the co-owners.
If the acquisition of the property is made through a mortgage loan:
• Declaration of the financial institution attesting that the mortgage loan has been requested for the acquisition of the property and stating the value of the investment and the amount of the outstanding capital, as well as the indication that the capital has been transferred to the seller’s account or, alternatively, the declaration of the financial institution responsible for the management of the deposit account or the individual savings system attesting that the capital has been invested in the acquisition of the property;
• Mortgage agreement and annexes;
• Declaration of the financial institution, confirming the effective transfer of the capital and the amount of the outstanding capital, if it is a mortgage loan with prior disbursement;
• Statement of the deposit account or the individual savings system, if it is a mortgage loan without prior disbursement.
In summary, American citizens interested in obtaining a Golden Visa in Portugal through real estate investment will need to provide several documents related to their personal and financial situation, as well as documents related to the investment itself. It’s important to carefully review and comply with all the requirements to ensure a successful application.
Interested in having White Plains Apostille quickly handle the apostille processing for your Visa application documents? Call, text or WhatsApp Harry Otto at 01(914)441-2444 or get the process started here: www.apostilleapply.com