Golden Visa & European Citizenship13 June 2017
Back in 2012, in order to attract foreign investment and boost the economy Portuguese government decided to amend to the laws and rules around the legal entry and stay of foreigners in the Portugal. This resulted in the creation of a new system called the Investment Based Residence Permit (ARI).
An ARI allows nationals of countries outside the Schengen area (third country nationals) to acquire a residence permit in Portugal via investments in Portuguese territory. Today, the ARI is commonly known as the Portuguese “Golden Visas”.
Over 2,400 ARI applications have been successful since the scheme was launched back in October 2012. The vast majority obtained through investing in property and of those more than 90% relate to property purchases within and around Lisbon.
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