Portugal Residence by Investment Program for Canadian Investors
Introduction to Portugal’s Residence by Investment (Golden Visa)
What it is: a residence-by-investment permit that lets you and your family live in Portugal, travel Schengen, and (eventually) seek permanent residence and citizenship. You must be in Portugal ≥7 days in year 1 and ≥14 days in each subsequent 2-year card period.
Canada and Portugal have a surprisingly long and rich shared history. Portuguese navigators were among the first Europeans to reach Canadian waters. Small numbers of Portuguese, especially from the Azores, settled in Newfoundland and Nova Scotia through the 19th century due to maritime ties. Today, over 480,000 Canadians claim Portuguese ancestry, making it one of the largest Portuguese diasporas outside Europe.
Eligible Investment Routes for Canadians
The current valid routes include:
- €500,000+ in non-real-estate investment funds (Portuguese VC/PE funds with ≥5-year maturity; ≥60% invested in Portuguese companies).
- Create 10 jobs.
- €500,000+ to R&D in approved Portuguese research institutions.
- €250,000+ to arts/cultural heritage via approved bodies (certain low-density projects may run at €200,000—confirm project approval with GEPAC).
- €500,000 to incorporate/recapitalise a Portuguese company and create 5 permanent jobs (or maintain 10 with ≥5 permanent for 3 years).
Key benefits & obligations for Canadians
- Schengen mobility and Portuguese residence for you + eligible family (spouse/partner, dependent children, etc.).
- Low physical-stay requirement One of the attractive features: you do not need to move permanently to Portugal or be resident full-time. The minimum stay is relatively low, just 7 days per year.
- Pathway to citizenship: After holding the Portugal Golden Visa and meeting the requirements, you can apply for permanent residence or citizenship in Portugal. Even though you don’t need to live full-time, you must still maintain your investment and comply with stay requirements. Language requirements apply when applying for citizenship (basic Portuguese level “A2” or equivalent) in many cases.
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Canada-specific considerations
Canadian citizenship qualifies
Canadians are non-EU/EEA/Swiss and so are eligible as main applicants for the Portugal Golden Visa.
Dual citizenship allowed
Both Canada and Portugal permit dual citizenship. So when you qualify for Portuguese citizenship (after the required residence period) you generally won’t have to renounce your Canadian citizenship.
Apostilles (since Jan 11, 2024):
Canada joined the Hague Apostille Convention. Your Canadian documents (e.g., police certificate, birth/marriage certs) now need a Canadian apostille, not consular legalisation—streamlining your ARI file.
Police certificates:
AIMA requires clean criminal record(s). For Portugal, you can authorise Portuguese authorities to pull your PT record; for Canada, obtain an RCMP fingerprint-based certified criminal record check and apostille it.
Double tax treaty:
Canada and Portugal have a DTA to avoid double taxation—critical for investment income, pensions, etc.
Leaving Canada (tax):
Becoming non-resident may trigger departure tax (deemed disposition) and various filings; review CRA rules before severing ties.
Family inclusion for Canadians
Your spouse, dependent children, and sometimes dependent parents can be included under your Golden Visa application. This is helpful when relocating a Canadian investor’s family.
Education/Healthcare considerations for Canadian families
If relocating part-time or full time, your Canadian family may wish to use international schools in Portugal and access Portuguese public health/education. Understanding differences vs Canadian systems is key.
Practical tips for Canadians
- Pick the route that fits your portfolio risk. Fund terms are long (often 8–10 years); review offering docs and ARI eligibility letters carefully.
- Document freshness matters. Many items must be issued within 90 days of filing; plan sequencing.
- Mind tax residency. Becoming PT tax resident (spending >183 days or having habitual abode) triggers worldwide taxation; the DTA helps but plan ahead.
- CRA departure planning. Model the departure tax before you cut residential ties; RRSPs/RRIFs, TFSAs, and non-registered assets have different treatments.
Talk to an Expert About Your Portugal Golden Visa Plans
One-Page Checklist for Canadian Investors
1. Decide the route & run due diligence
- Funds: review strategy, term, fees, eligibility letters, and that the fund is non-real-estate and ARI-eligible.
- Arts/culture: confirm GEPAC approval and donation flow/escrow.
- Company/job creation: align headcount plan with statutory thresholds.
2. Obtain NIF & open a Portuguese bank account (most banks require in-person KYC; some allow power-of-attorney via your Portuguese lawyer).
3. Prepare documents (issued within validity windows; translate to PT as needed):
- Passport(s), proof of funds and lawful source.
- Canadian RCMP criminal record (fingerprint-based) + apostille; other countries where you resided ≥12 months also needed.
- Marriage/birth certificates for dependants + apostilles.
- Proof of investment (bank transfer letter; fund manager declarations; GEPAC letter; incorporation docs).
- AIMA’s guidance on foreign document recognition & translations.
4. Invest first, then file
- Execute the investment (e.g., subscribe to fund units; wire donation; incorporate company & hire).
- Submit the ARI file via the ARI Portal (pre-registration is mandatory).
5. AIMA review & biometrics
- Post-pre-approval you’ll attend biometrics at an AIMA office (AIMA replaced SEF).
6. Card issue & renewals
- Maintain your investment & meet stay days (7 in year 1; 14 in each following 2-year period). Keep documents current for renewals.
7. Permanent residence / citizenship
- After 5 years under current law you may apply for PR and/or citizenship; verify any 2025 nationality-law changes before counting on timelines.
One-page checklist (do these in order)
- Choose ARI route (Fund / Arts / R&D / Company) and engage PT counsel.
- Get NIF + bank account.
- Gather documents & apostilles (RCMP cert, civil status docs, proof of funds).
- Execute investment; collect fund/GEPAC/bank confirmations.
- File via ARI Portal; pay analysis fees.
- Attend AIMA biometrics; await decision.
- Maintain investment & stay days; diarise renewals and fee deadlines.
- After 5 years (subject to any new law), consider PR/citizenship and Portuguese language exam (A2).