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What documents do I need to provide if I invest in my friend’s business and apply for the Portuguese Golden Visa?

My friend owns a successful restaurant in Lisbon. I would like to invest 500,000 euros in his business and apply for the Portuguese Golden Visa. What procedures are included if I select this option? What documents do we need to present to the government?

  • Gouveia Pereira, Costa Freitas & Associados, Sociedade de Advogados R.L.
    August 17, 2018

    If you intend to invest in your friend's business and take into consideration the investment modalities of the Golden Visa, the minimum amount of investment in your specific case, in principle, should be the investment of the amount of 1 million euros by means of acquisition of share capital of the company and not the investment of the amount of 500,000 euros by means of acquisition of a property. The documents that you will need to present to the Portuguese authorities will vary in accordance with the modality of investment that you chose. Despite the above mentioned, and regardless of the investment modality that you choose, you will always need to present, at least, the following documents: passport or other valid travel document; documentary evidence of legal entry and stay in Portuguese territory; documentary evidence of adequate health insurance (issued within the prior three months); extract from the criminal record – duly certified by a Portuguese diplomatic or consular post abroad – of the country of origin, or country of residence in case the applicant has lived in another country for over one year (this document must be translated into Portuguese and must have been issued within the prior three months); completed application form with permission for checking the Portuguese criminal records; affidavit, whereby the applicant declares on his/her word of honor that he/she shall comply with the minimum quantitative requirements and maintain the investment for a minimum period of five years; up-to-date declarations issued within the prior 45 days by the Portuguese tax authorities and by the Portuguese Social Security confirming the absence of any debts to those authorities, and where that is not applicable, declaration confirming that the applicant is not registered with those authorities.

  • Dinis Lucas & Almeida Santos
    August 17, 2018

    The 500,000-euro investment for the Golden Visa is regarding purchase of real estate. In the situation described, there are two ways to invest on your friend’s restaurant: you purchase the real estate / shop where the restaurant is located (total or just a percentage equivalent to the purchase price of 500,000 euros); or you invest 1 million in share capital of the restaurant. In the latter case, you would own part of the restaurant ( a share capital of 1 million). This investment would have to be deposited on the bank account of the restaurant and can be used on investments of the restaurant.

  • Caiado Guerreiro
    October 10, 2018

    The option of investment that you are referring to was slightly updated in the last amendment to the relevant law. As such, currently the minimum amount of investment is 350,000 euros, which shall be used for the reinforcement of the share capital of an already existing commercial company with a head office in Portugal, with the creation or maintenance of working jobs, with a minimum of five permanent jobs, and for a minimum period of three years. Although this option of investment is not regulated yet - meaning that there are, so far, no Golden Visa process approved under such kind of investment - the necessary documents to submit the application would be (besides the standard personal documents) the following ones: a bank statement proving the international transfer of the capital and subsequent investment; shareholder deliberation regarding the increase of the capital by the entrance of a new shareholder; the company's updated bylaws; the company's commercial registry with the corporate changes; five labor contracts without term; correspondent proof of registry in social security of such contracts; the company's payroll. Naturally, if your friend owns the real estate where the restaurant is located, you can also do the Golden Visa by buying such real estate and rent the space to your friends. However, in such case, the option of investment is not a business investment but a real estate investment and, as such, is subject to the standard amount of investment of 500,000 euros.