Publication date: 2022\/07\/25<\/p>\n\n\n
Portugal and Madeira\u2019s ARI (Golden Visa) scheme is one of the most popular residency-by-investment programs in the world. In this article, we\u2019ll look at the scheme in detail and provide you will all of the knowledge and assistance you need to relocate to Madeira, either through the purchase of property or by the transfer of capital.<\/p>\n
In late 2021, changes to Portugal\u2019s residency through investment scheme have significantly changed the program\u2019s investment criteria. It is now no longer possible to make real estate investments in residential property in mainland Portugal, such as Lisbon, Porto, or the coastal towns in the Algarve. RAM (Regi\u00e3o Aut\u00f3noma da Madeira) and the Azores are now the only regions in Portugal where you can gain residency through the Golden Visa programme.<\/p>\n
Madeira\u2019s Golden Visa Program, also known as the ARI Scheme, is a\u00a0five-year residency-by-investment programme<\/strong> for non-EU\/EEA nationals and Swiss nationals, designed to attract overseas investment in Portugal.<\/p>\n Opportunities to become a permanent resident and a citizen after only five years are possible, provided that the qualifying\u00a0investment is kept for at least five years, and that all requirements set by the Portuguese immigration and nationality laws are obeyed.<\/p>\n The benefits of Madeira\u2019s Golden Visa are designed to attract foreign investors looking to gain access to the European Economic Area and Schengen travel zone.<\/p>\n One attractive benefit of Madeira\u2019s golden visa is that your dependent family can be included in the application. This allows your family to enjoy the same opportunities or a second residence in Madeira.<\/p>\n To qualify for the Golden Visa in Portugal and Madeira, you must make a qualifying investment typically in real estate or funds and hold the respective investment for five years. Madeira Company, MC Contabilidade, offer consultative advice and assistance in filing your Golden Visa application, and other aspects of your relocation to Madeira. Contact<\/a> a member of our team today for more information.<\/p>\n To qualify for the program, you must fulfil the following Golden Visa requirements for Portugal and Madeira:<\/p>\n Once you have identified your investment, the process can be straightforward and quick.<\/p>\n Once you decide on your investment, you must collect the paperwork for yourself and any dependants you\u2019ll be including in the application. Our team can ensure the correct paperwork is in order, and we\u2019ll submit it for review on your behalf.<\/p>\n Your NIF is your Portuguese Fiscal identification number. MC Contabilidade will apply for your NIF (N\u00famero de Identifica\u00e7\u00e3o Fiscal) act as fiscal representative for you. After obtaining your NIF, we can help you open a Portuguese Bank account. See our post about N\u00famero de Identifica\u00e7\u00e3o Fiscal here.<\/p>\n We can begin securing your investment and will guide you through the\u00a0necessary paperwork required, either as a real-estate acquisition or transfer of capital.<\/p>\n Submit your application online.<\/p>\n Your application will be pre-approved by the Portuguese Tax and Border authorities; on the basis you adhere to the necessary requirements.<\/p>\n Once you schedule an appointment with Portugal\u2019s Immigration Service (SEF), it takes around 2 months until you can attend a bio metrics collection session in person.<\/p>\n Once you register your Bio-metrics, it takes around 4 months for your Golden Visa to be approved by SEF. Pay the government permit issue fee. Our team will collect your residence cards on your behalf and send them to you.<\/p>\n Madeira’s stable economy and growing startup scene, popular with the Digital Nomad Community, make it an attractive destination for businesses looking to form a company or set up a branch in Madeira’s International Business Centre. Madeira is also experiencing a surge in new development, with new properties built to a high standard being built along the south coast.<\/p>\n Madeira’s Golden Visa investment opportunities include:<\/p>\n Investing in private equity funds or Portuguese Golden Visa venture capital funds is also a good option for acquiring residency in Madeira. The funds are managed by\u00a0 fund managers accredited by Portugal\u2019s regulatory body, CMVM. Your dedicated fund manager ensures that the Portuguese Golden Visa fund investments are appropriately managed in start-ups or medium-sized projects with optimal growth potential.<\/p>\n For the Portuguese Golden Visa qualified investment fund, you can choose from sectors like energy, industry, technology, and real estate. See our blog on Madeira’s Investment opportunities here<\/a>.<\/p>\n Madeira’s Golden Visa income tax benefits are a big draw for foreign investors looking to get the most out of their financial contribution. Visa holders don\u2019t need to pay extra taxes on income produced outside of Portugal.<\/p>\n There\u2019s also an option to register as a fiscal resident for tax purposes in Portugal. This option allows you to benefit from Portugal\u2019s\u00a0Non-Habitual Tax (NHR) Regime. NHR is a generous tax program with numerous benefits pertaining to your global income. It offers tax-free incentives on certain categories for a period of up to ten years.<\/p>\n Any income generated in Portuguese territory would be taxed at a flat rate of 20% for the first ten years and there is also the ability to pass on your wealth to a spouse or dependent without incurring inheritance or gift taxes.<\/p>\n Citizenship through\u00a0<\/strong>Naturalisation<\/b><\/p>\n The golden visa can absolutely get you citizenship. You must hold your investment for at least five years before you\u2019re eligible to apply for permanent residency and a Portuguese Passport. With citizenship under your belt, you can enjoy the right to live, work, and study anywhere in the EU and travel visa-free to over 182 destinations. Keep in mind that to acquire citizenship you must have a clean criminal record, have an A2 Portuguese language certificate (or be willing to undergo a Portuguese language test), and demonstrate to have genuine links to the country (simply provide evidence of your investment, along with documents that prove your registration in Portugal like your NIF number and Portuguese bank account).<\/p>\n Documents required<\/strong><\/p>\n The following documents required can change at the discretion of the Portuguese government. Your documents must be submitted both for the initial application and for each renewal.<\/p>\n Golden Visa Portugal documents required list:<\/p>\n Your Golden Visa documents and the Portugal Golden Visa application form must be translated into Portuguese by a certified translator and notarised by the Portuguese Consulate in your home country or by an Apostle of The Hague Convention.<\/p>\n Translating Portugal Golden Visa documents<\/p>\n Original documents must be accompanied by a certified translation in Portuguese, which may be done in one of three ways:<\/p>\n Besides travel expenses, Government fees, taxes and professional fees can add to your total Golden Visa costs.The following costs are common to all investment routes:<\/p>\n The Portuguese government charges an application fee for your initial application and any subsequent renewals.<\/p>\n Golden Visa application fee of \u20ac533.00 payable by the main applicant and \u20ac533.00 each family member (Spouse\/Dependant).<\/p>\n Golden Visa issuing fee of \u20ac5.325.00 per applicant, payable once the application is approved. The issue fee upon each renewal is then reduced to \u20ac2.663.00 per applicant (the government fees are updated yearly in March).<\/p>\n You will need to consider the cost of at least the following professional services:<\/p>\n Imposto de Selo (Stamp duty) at the rate of 0.8% of the transaction value applies in Portugal to the purchase of a property.<\/p>\n In addition, property transfer tax (“IMT”), also applies to a property purchase in Madeira. While there are variations according to property type (rural, commercial\/industrial, or residential), property status (rehabilitated properties may also benefit from exemptions) and property intended use (property intended as the permanent residence of the purchaser benefits from slightly lower rates), the typical situation is that of a new residential property not intended as the owner\u2019s permanent residence. For the purchase of such property, the applicable transfer tax rates are those indicated on this page.<\/p>\n Madeira Company, MC Contabilidade is a leader in residency, and citizenship by investment, with a professional and experienced team who can competently guide you through the process. Located in Funchal, the capital of Madeira, Madeira Company has a real estate partner, Madeira Estate<\/a> who can work with you to find a qualifying property that meets all your requirements. For more information, contact<\/a> a member of our team today and discuss your individual requirements with us.<\/p>\n\n\n
Benefits of the ARI Scheme Include:<\/h4>\n
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Other benefits of Madeira\u2019s Golden Visa<\/h4>\n
Family members that can be included in your application are as follows:<\/h5>\n
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How do I apply for the Golden Visa in Madeira?<\/h3>\n
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Madeira’s Golden Visa Processing Time<\/h4>\n
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Portuguese Golden Visa investment options<\/h4>\n
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Portugal and Madeira’s investment fund<\/h4>\n
Golden Visa tax benefits<\/h4>\n
Income that qualifies under the NHR program include:<\/h4>\n
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Legalising Portuguese Golden Visa documents<\/h4>\n
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Golden Visa Application Cost<\/h4>\n
Government Fees<\/h5>\n
Professional Fees<\/h5>\n
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Tax representation<\/h5>\n
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Property Purchase Taxes<\/h5>\n
Why work with MC Contabilidade?<\/h4>\n