Practice Areas

Portuguese Golden Visa Residence Permit

In the sequence of the publication do the Law number 29/2012, of 9 August and the Order number 11820-A/2012 , that establish the legal framework for the Portuguese Golden Visa Residence Permit through Investment in Portugal, DCS Law Firm created a new department, called Golden Visa Residence Permit.

 A) What are the Advantages of the Portuguese Golden Visa Residence Permit?

Possibility of obtaining Portuguese permanent residency ( after five years of temporary residence permit) and/ or getting Portuguese nationality ( after six years of temporary residence permit.

Visa exemption for travelling within the Schengen Area ( Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, Switzerland );

Right to the family reunification residence permits.

B) Who can be granted with a Portuguese Golden Visa Residence Permit?

The Portuguese Golden Visa Residence Permit may be granted to foreign non EU Citizens, by doing one of the following investments in the country, for a minimum period of 5 years:

1. Transfer of capital in an amount equal to or greater than €1.000.000 ( one million Euros). It includes investing in Portuguese companies , as long as the investor’s personal capital share fulfils the minimum amount of €1.000.000 ( one million Euros).

This investment must be proved by :

Statement from a Financial Institution operating in Portugal attesting that a transaction of €1.000.000 ( one million Euros) has been performed, and the money has transferred into an account where  the investor is the sole or first holder, or that it has been used to buy companies shares;

Certificate from the Commercial Registry attesting the ownership of the company , when applied.

2. Creation of at least 10 jobs.

This investment must be proved by an updated certificate issue by the Portuguese Social Security system attesting that the 10 employees are registered.

3. Acquisition of property in an amount equal or greater than €500.000 ( five hundred thousand Euros)

This investment must be proved by :

Final deed of purchase and sale or a promissory purchase and sale agreement with a minimum down payment of €500.000 ( five hundred thousand Euros);

Statement from a Financial Institution operating in Portugal attesting that the transaction has been performed and the money has been transferred for property acquisition or down payment;

Updated certificate from Land Registry Office.

 C) Which are the general requirements for the Portuguese Golden Visa Residence Permit applicant?

  1. Presence in Portugal
  2. Non existing of any fact that would be an obstacle for the granting of a visa.
  3. Valid Passport
  4. Valid Schengen Visa
  5. Legalization of a stay in Portugal within ninety (90) days of the first entrance into national territory.
  6. Proof of means of subsistence and accommodation
  7. Proof of health insurance
  8. Request for consultation of criminal record at “SEF”
  9. Sworn statement signed by the applicant as he/she will comply with all investments requirements.
  10. No debt certificate issued by Portuguese Social security and Tax Authorities
  11. Criminal record certificate of the country of origin and of the country where the applicant has resided for more than one year.
  12. Proof of one of the three types of investment.
  13. All foreign documents must be officially translated to Portuguese at a Portuguese Consulate in the country of it’s origin.
  14. The initial residence permit is valid for one year, renewable for two periods of two years each.
  15. The minimum length of stay in Portugal is 7 days in the first year and 14 days in the subsequent two- year period, consecutive or not.

D) Legal Services provided by DCS Law Firm:

Due diligence in the investment process, including assisting negotiations , analysis  of all the required sellers and property documentation and accessing the public departments for verification, namely Land Registry, Commercial Registry, Tax Office and Local Municipality Council.Obtaining Portuguese Fiscal Number for the Investor at the local Tax OfficeFiscal representation services.

  1. Assisting at the Bank account opening.
  2. Power of attorney draft and authentication at the moment of the signature.
  3. Promissory purchase and sale agreement draft and signatures recognition.
  4. Declarations for the Tax Office regarding the IMT and the Stamp tax.
  5. Final purchase and sale deed draft and authentication.
  6. Registration of the promissory purchase and sale agreement and/or the final deed at the Land Registry.
  7. Registration of the final deed at the Tax Office.
  8. Portuguese Company constitution deed and registration at the Commercial Registry.
  9. Preparation and submission of the Portuguese Golden Visa Residence Permit.
  10. Preparation and submission of the Portuguese Golden Visa Residence Permit for family reunification.
  11. Representation services at the Portuguese immigration and Borders Authorities
  12. Submission of renewals of the Portuguese Golden Visa Residence Permits.
  13. Drafting and recognition of signatures of all agreements regarding the properties management, namely rental agreements.
  14. Representation services in all or some of the acts and procedures regarding the investment.

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For more information, please contact our partner: sandraicon

Sandra Jardim Fernandes, write to sandrajfernandes@dcsadvogados.com

Régime des Résidents Non Habituels (RNH)

Portugal reconnait le statut de résident fiscal non habituel depuis le décret-loi du 23 septembre 2009. Ce régime permet aux résidents non habituels de bénéficier d’un taux spécial d’imposition pour certains de leurs revenus de source portugaise et aussi de bénéficier d’exonérations sur les revenus de source étrangère.

Peut demander l’enregistrement de résident fiscal non habituel au Portugal,  celui qui:

1) n’est pas considéré résident portugais dans l’une des cinq années précédant l’année dans laquelle il souhaite commencer la taxation comme non-résident habituel ;

2) au cours d’une année civile, remplit une des conditions suivantes  :

• Durée de séjour supérieure à 183 jours au Portugal (de manière continue ou discontinue) ;

• Disposition d’un logement d’habitation sur le territoire portugais au 31 décembre, laissant présager l’intention de conserver ou d’utiliser ce logement à titre de résidence principale ;

• Le fait d’etre, au 31 décembre, un membre d’équipage d’un navire ou d’un aéronef au service d’une entité dont la résidence, le siège, ou la gestion effective se situe au Portugal ;

• Le fait d’etre le conjoint, au 31 décembre, d’un résident fiscal portugais.

La circulaire 9/2012 du 3 aout 2012 a simplifié la procédure en subordonnant l’inscription en tant que résident non habituel à la déclaration du contribuable attestant qu’il n’a pas été résident fiscal portugais au cours des cinq dernières années.

Le contribuable qui est reconnu non-résident habituel acquiert le droit d’etre taxé comme tel pendant une période de 10 années consécutives à partir de l’année, y compris, de son enregistrement en tant que résident sur le territoire portugais.

Pour obtenir le régime RNH, il faut présenter une demande à l’Autorité Fiscal et joindre la déclaration attestant que le contribuable n’a pas été résident au Portugal dans les cinq années avant de venir au Portugal.

Au cas où l’Autorité Fiscal a des doutes sur la véracité des éléments déclarés, des éléments additionnels peuvent etre exigés (des certificats de résidence fiscal où d’autres documents capable de faire la preuve que les liens personnels et économiques du particulier en question étaient attachés à un autre état dans les cinq années précédant son arrivée au Portugal).

L’ obtention du statut de résident fiscal non habituel au Portugal permet à son bénéficiaire d’obtenir des avantages fiscaux en ce qui concerne les revenus suivants:

A) revenus salariaux ou issus d’une profession indépendante, obtenus au Portugal, lorsqu’ils résultent d’activités à «haute valeur ajoutée» conformément à une liste approuvée par  l’Ordonnance n. 12/2010, du 7 janvier;

B) revenus salariaux ou issus d’une profession indépendante, obtenus à l’étranger, lorsqu’ils résultent d’activités à «haute valeur ajoutée» conformément à une liste approuvée par l’Ordonnance n. 12/2010, du 7 janvier.

C) revenus passifs obtenus à l’étranger;

D) pensions de retraite, obtenus à l’étranger.

A) Les revenus salariaux ou issus d’une profession indépendante, obtenus au Portugal, lorsqu’ils résultent d’activités à «haute valeur ajoutée» bénéficient  du taux spécifique réduit de 20%. A noter qu’à ce taux spécifique de 20% pourra s’ajouter une surtaxe de 3,5% ( 2013 et 2014).

B) Les revenus salariaux issus des activités « à haute valeur ajoutée » obtenus à l’étranger, sont exonérés de l’impôt sur les revenus  (IRS au Portugal) , à condition que ces salaires soient effectivement imposés dans l’État de la source conformément aux règles prévues par la convention fiscale conclue entre le Portugal et l’État de la source. Si ces salaires ne sont pas imposés dans l’État de la source, ils bénéficieront du taux préférentiel d’imposition de 20%. A noter qu’à ce taux spécifique de 20% pourra s’ajouter une surtaxe de 3,5% (2013 et 2014).

Les revenus des professions indépendantes pourront bénéficier d’une exonération l’impôt sur les revenus  (IRS au Portugal) dès lors que ces revenus résultent d’activités « à haute valeur ajoutée »  et que ces revenus puissent etre imposés dans l’État de la source conformément aux règles prévues par la convention fiscale relative à l’élimination des doubles impositions conclue entre le Portugal et l’État de la source. À défaut d’imposition dans l’État de la source, ces revenus pourraient toutefois bénéficier du taux préférentiel de 20 %. A noter qu’à ce taux spécifique de 20% pourra s’ajouter une surtaxe de 3,5% (2013 et 2014).

C) Les revenus passifs (intérets, dividendes, redevances, gains en capital et autres revenus du capital, revenus immobiliers) de source étrangère percus par les « résidents non habituels » sont exonérés l’impôt sur les revenus  (IRS au Portugal), à condition que ces revenus puissent etre taxés par l’État de la source en application des règles prévue par la convention fiscale relative à l’élimination des doubles impositions conclue entre le Portugal et l’État de la source. Il n’est pas nécessaire que ces revenus soient effectivement taxés à l’étranger.

D) Conformément aux règles prévues par la convention fiscale relative à l’élimination des doubles impositions conclue entre le Portugal et l’État de la source, les pensions de source étrangère percues par les résidents non habituels peuvent etre totalement exonérées de l’impôt sur les revenus  (IRS au Portugal)  si :

– Ces pensions sont effectivement imposés dans l’État de la source en application des règles prévues par la convention fiscale ; ou si,

– Ces pensions versées à l’étranger ne sont pas de source portugaise .

Attention que si l’établissement payeur étranger a son siège, sa direction effective ou dispose d’un établissement stable au Portugal , les pensions seront considéré de source portugaise.

La plupart des conventions fiscales conclues par le Portugal, sur la base du modèle OCDE, prévoient une imposition exclusive de l’État de résidence du contribuable en ce qui concerne les pensions privées (par contre, les pensions publiques sont imposés dans l’État de l’organisme payeur ) .

La convention fiscale conclue entre la France et le Portugal attribue le droit exclusif d’imposer les pensions privées à l’État de résidence.

C’est une double exonération potentielle. Les pensions de retraite privées de source francaise ne seraient pas imposables en France et seraient en outre exonérées au Portugal.

Pour plus d’informations, contacter notre avocat: Sandra Jardim Fernandes

sandraicon

 

Litigation

  • With a portfolio of national and foreign clients, DCS provides advice and representation in the areas of civil litigation, commercial, administrative, criminal, labour, administrative, debt recovery, insolvency and business recovery.
  • Divorce, legal separation;
  • The exercise of parental responsibilities and the promotion and minor protection;
  • Contractual and non-contractual civil liability claims, related in particular to automobile accidents, contracts, supply contracts for goods and services, corporate disputes;
  • Credit recovery in the executive level and in insolvency proceedings;
  • Insolvency and business recovery;
  • Advice and representation of employers and employees in employment litigation;
  • Actions of criminal responsibility and offences;
  • Litigation in the areas of Administrative Law and Taxation related with the construction, environment, cultural heritage, licensing of public and private works, graceful and contentious disputes over taxes.

Our team for this Area of Practice:    claraiconhugoicondulceicon

 Real Estate Law

DCS has focused its action on real estate law in areas such as civil construction, real estate financing and investment operations, use and management of real estate and tourist investment operations. In this context the DCS has developed its area of action.

  • Titration of the Constitution, transmission and encumbrance of immovable property, in particular, the Constitution of horizontal property, contracts of purchase and sale, donation, sharing, Division of common property and preliminary contracts to these as the promissory contract, preference pact and right of option;
  • Tax planning inherent in the ownership of real property;
  • Registration of the facts and instruments subject to the land register;
  • Preparation of all the constituent documents of tourist facilities, including constitutive title and projects management regulation with plural property, as well as their management and operations contracts;
  • Implementation of tourism operations under the fractionals regime; creation of temporary products of accommodation to units of tourism development, in particular, tourist housing rights, timeshare housing, shares in companies owning with special right of use, ownership and use of regulation associated;
  • Licensing of tourist facilities, assignment of processes of educational tourism utility;
  • Negotiation, elaboration and review of contracts;
  • Advice and negotiation of financing and real estate investment operations;
  • Assistance in the negotiation and conclusion of contracts, namely real estate management, residential, commercial and tourist rentals.
  • The acts listed above involving the titration of real property are made by DCS under One Stop Shop.

Our team for these Area of Practice:   claraiconhugoicondulceiconsandraicon

Labour Law

The labour law accompanies the DCS since its Foundation, within the employers ‘ representation, or the workers, highlighting in particular the individual and collective bargaining and labour disciplinary law. The intervention of DCS focus on these aspects:

  • Negotiation and elaboration of individual and collective work contracts;
  • Elaboration of internal regulations and companies organigrams;
  • Advice on termination of employment contracts;
  • Development of disciplinary proceedings;
  • Representation and advice to employers and employees in labour disputes.

Our team for this Area of Practice:    claraiconhugoicondulceicon

Corporate and Commercial Law

The corporate sector of the autonomous region of Madeira has always been targeted for special attention by the DCS, having entered into partnerships with the two largest regional associations in the sector, this being its primal focus.The intervention of DCS focuses especially in the context of Corporate Governance, acquisitions, mergers, demergers and corporate transformations, agency contracts, distribution, franchising, outsourcing, consortia and partnerships.

  • Advice on management, interorganic relationship and corporate restructuring, in particular, increase and reduction of capital and shareholder agreements;
  • Negotiation and elaboration of fusion projects, division and corporate transformation;
  • Titration of the constitution, transformation, merger, dissolution of commercial companies and transfers of shares
  • Tax planning inherent in corporate Dynamics;
  • Representation in corporate acquisitions;
  • Prevention and diagnosis of pre-contentious corporate situations;
  • Elaboration of business recovery projects;
  • Negotiation and elaboration of Agency, distribution, franchising, outsourcing, Consortium and partnership contracts;
  • Realization of supply contracts, additional services and other acts of corporate capitalization;
  • Registration of facts and acts subjected to commercial registration.
  • The above acts involving titration of acts subject to registration are made by DCS in the context of  One Stop Shop.

Our team for this Area of Practice:   claraiconhugoicondulceiconsandraicon

Banking and Insurance

In this context the DCS provides, in particular, private customers advice in contractual relations with banks, financial and insurance companies.

  • Resolution of disputes arising from credit agreements and renegotiation of banking operations;
  • Resolution of disputes arising from insurance contracts, in particular, conditions of validity, scope of coverage and participation of claims;
  • Litigation (see intervention Area: litigation).

Our team for this Area of Practice:    claraiconhugoicondulceicon

Public Law

In the framework of public law the DCS has been extending its area of intervention, advising and representing public and private clients in the areas of administrative law, taxation, social security, civil service, environment and cultural heritage.

  • Licensing of industrial activities, construction and tourism;
  • Instruction on procedures leading to granting of benefits and tax exemptions;
  • Subsidies to activities;
  • Declaration and payment of taxes arising from acts of transfer of rights to movable and immovable property, and the associated complaints and appeals;
  • Administrative and judicial procedures for the recognition of rights under Social Security and Caixa Geral de Aposentações, in particular relating to de facto unions, pensions, invalidity and survival;
  • Public procurement, in particular in the areas of service provision, contracts and concessions of public services and spaces.
  • Litigation in the areas of administrative law and taxation, related with the construction, environment, cultural heritage, public works and private licensing and graceful and contentious tax dispute.

Our team for this Area of Practice:    claraiconhugoicondulceicon

Intellectual property

The demands of the knowledge society have been creating intervention needs in the areas of industrial, intellectual property and copyright, representing a challenge to that DCS has been giving answer.

  • In the register of trademarks and patents;
  • Conflict resolution;
  • Drafting of copyright contracts and/or related rights.

Our expert Lawyer for this Area of Practice:    dulceicon

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FUNCHAL
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Telefone: 291 280 957 / 291 280 976
Fax:  291 228 265
LISBON
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1050-143 Lisboa
Telefone: 213513990
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