Stage 1: Investment Into the Fund

Step 1:

Reservation Letter & Fee

Fund Manager: Sign reservation fee letter & Submit to Fund managers fee payment, KYC – AML documentation and a copy of the passport to Fund Manager

Law Firm: Hire a Lawyer (and a Tax Advisor if needed)

Bank: Select a Bank in Portugal

Step 2:

Get a NIF (Tax ID Number)

Law Firm: Obtain Portuguese Tax Number (NIF)

Bank: Prepare documentation and funds

Step 3:

KYC Process

Fund Manager: Initiate KYC Process (NIF Required)

Bank: Initiate KYC Process & Open a bank account (NIF Required)

Step 4:

Investment Execution

Fund Manager: Fund Manager Investment Certificate

Bank: Transfer investment funds from personal bank account abroad to Portuguese bank account, Transfer of investment funds to Fund Bank Account & Bank Declaration Form

Step 4:

Investment Execution

Fund Manager: Fund Manager Investment Certificate

Bank: Transfer investment funds from personal bank account abroad to Portuguese bank account, Transfer of investment funds to Fund Bank Account & Bank Declaration Form

Fund Manager

The fund manager will be responsible for the KYC (Know Your Customer) and AML (Anti-Money Laundering) processes. They will also provide the document confirming that the funds’ transfer to Vida has been completed.

Required Documents

• Certified copy of passport
• Certified copy of proof of address issued in the past 3 months
• Proof of employment
• Curriculum Vitae
• Bank Reference Letter / Statements issued in the last 3 months
• Proof of Source of Funds / Wealth
• Last annual income tax return

Legal Representation

The services offered at the investment stage by law firms include:

– Setting up Portuguese Bank Accounts
– Facilitating the Vida Fund subscription Process
– Assistance and facilitation of all application requirements and procedures including engagement and assistance with the Foreign and Borders Office (SEF)
– Obtaining Portuguese Tax Number:

In case the applicant is not a resident of Portugal or the European Union, to obtain the Portuguese Tax Number, the Tax Authority demands that they appoint a Tax Representative.

According to the Portuguese Tax Authority, the Tax Representative is a person or company domiciled in Portugal who represents the applicant before the Tax Authority.
01. receives notifications and is the focal point for clarifications demanded by the Tax Authority
02. assumes responsibility for ensuring compliance with tax declaratory obligations (for instance, but not exclusively, by submitting annual income statements)
03. has the right to claim, appeal or challenge tax acts
04. is responsible for tax infractions arising from its action or inaction

We will provide you with different leading law firms to assist you in obtaining the NIF and providing tax representation services.
However, if and when the investor or family members decide to relocate to Portugal and change their tax residence to Portugal, the tax representation services will no longer be needed and should be canceled.

In case the applicant is not a resident of Portugal or the European Union, to obtain the Portuguese Tax Number, the Tax Authority demands that they appoint a Tax Representative.

According to the Portuguese Tax Authority, the Tax Representative is a person or company domiciled in Portugal who represents the applicant before the Tax Authority.
01. receives notifications and is the focal point for clarifications demanded by the Tax Authority
02. assumes responsibility for ensuring compliance with tax declaratory obligations (for instance, but not exclusively, by submitting annual income statements)
03. has the right to claim, appeal or challenge tax acts
04. is responsible for tax infractions arising from its action or inaction

We will provide you with different leading law firms to assist you in obtaining the NIF and providing tax representation services.
However, if and when the investor or family members decide to relocate to Portugal and change their tax residence to Portugal, the tax representation services will no longer be needed and should be canceled.

Bank Account

The funds to be transferred for the VIDA Fund investment must come from a foreign bank account to a Portuguese bank account in the investor’s name. To apply for the Golden Visa, a statement of the transfer of funds from the bank in Portugal will be required.

The law firms will be happy to liaise with the Portuguese banks with whom we work or to liaise with the bank of your choice and assist in opening the account. The bank will initiate a compliance procedure and ask for the investor’s information and documentation.

The law firm may initiate the process to obtain the tax number and start the compliance procedure at the bank to open the account before the investor’s trip to Portugal.

Required Documents

• Original signed Bank Account Opening Forms (or via power of attorney from your Legal Representative)
• Certified copy of passport
• Portuguese Tax Number
• Country of Origin Tax Number / ID
• Certified copy of Proof of Address issued in the past 3 months
• Proof of Employment
• Proof of Source of Funds / Wealth

Step 5:

Reservation Letter & Fee

Law Firm: Online application & Submit required documents apostilled by Portuguese consulate

Step 6:

Get a NIF (Tax ID Number)

Law Firm: Once the online application is accepted, schedule an appointment at SEF & Travel to Portugal to collect biometric data and submit the original documents

From 6 to 12 months: 
Application is approved by SEF: Residence permit issuance fee becomes due & Receive temporary residency permit

Step 7:

KYC Process

Law Firm:
From two and half years:
Renew temporary residency permit: Travel to Portugal before the expirity of the residency card to submit biometrics & Renewal filing fees and renewal issuance fees become due

From four and half years:
Renew temporary residency permit: Travel to Portugal before the expirity of the residency card to submit biometrics & Renewal filing fees and renewal issuance fees become due

Step 8:

Investment Execution

Law Firm:
From five and half years onwards:
Application for permanent residence permit or passport can be made after: Having met all the requirements and successfully completing 5 years as a temporary resident, A2 Portuguese level exam, Clear criminal record & Non-existence of debt towards tax authorities

Step 8:

Investment Execution

Law Firm:
From five and half years onwards:
Application for permanent residence permit or passport can be made after: Having met all the requirements and successfully completing 5 years as a temporary resident, A2 Portuguese level exam, Clear criminal record & Non-existence of debt towards tax authorities

Legal Representation

THE SERVICES OFFERED AT THE GOLDEN VISA STAGE BY LAW FIRMS INCLUDE:
• Advice and preparation of the application
• Drafting and certification of the documentation needed
• Gathering of documentation in Portugal
• Recommendations regarding the certification of documents issued in the country of residence
• Liaison with the consulate at the country of origin if needed
• Liaison with a translation company
• Preparation and submission of the application online

Required Documents

• Valid passport
• Proof of legal presence in Portugal (visa, entry stamps, etc.)
• Portuguese fiscal number (NIF)
• Proof of a Portuguese bank account
• Criminal records (3 months prior to the GV application) from the country of origin, and/or from the country (or countries) with a stay for more than a year
• A form that authorizes the Portuguese Immigration and Borders Service (SEF) to obtain a copy of the Portuguese criminal records
• Proof of Portuguese public health system or a private health insurance for the residency
• Documents (45 days prior) proving good standing with the Portuguese Tax and Customs Authority and Social Security system.
• A sworn statement that declares the compliance with all the minimum investment requirements to the GV application (total amount and 5-year period)
• Proof of payment of the GV application processing fee
• The specific documents related to the chosen option for investment in Portugal.