What is the Business Development Accord?

While not as simplified and straight-forward as the Golden Visa, the Business Development Accord is a great option for people wishing to start a business in Portugal, or those that prefer acquiring residency through business rather than property investment.

The Business Development Accord is an option that allows foreign nationals to be granted legal residency status in Portugal based on the formation of a Portuguese business that meets specific requirements. Unlike the Golden Visa programme, there is no minimum value required on the property acquisition as the Business Development Accord focuses primarily on the formation of a Portuguese company which provides local jobs.

This residency-through-investment accord grants holders permanent residency status in Portugal after 5 years, and will lead to Portuguese citizenship if all conditions are met along the way. The requirements for this programme are more onerous when compared to the Golden Visa option, as you are required to spend a larger minimum number of annual days, must have a local residence, and any dependents must be educated in Portugal in order to qualify.

Minimum Requirements Checklist

180 Days annually in Portugal

Must spend 180 days annually in Portugal, with exemption options available for those required to be present elsewhere for business reasons

Children must be educated in Portugal

Children must attend school/university in Portugal in order to qualify as dependents.

Company formation requirements

There are specific company formation requirements which must be followed, as well as required guidelines for social security registration and job creation

A clean police clearance certificate

Absence of relevant criminal conviction; a clean police clearance certificate is necessary.

Timeline

The time allocation for the entire process is 3 months

1

Step One

Visit Portugal on resident visa to purchase a company, register for social security, open bank accounts and source a property.
2

Step Two

Return to SA and lodge all documents with Portuguese Consulate and apply for a resident visa, this will take between 6 weeks and two months.
3

Step Three

Once approved by the consulate you may return to Portugal and have your documents lodged with Portuguese home affairs.
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Benefits of the Golden Visa

Invest in your family and your future.
Protect your wealth

Protect your wealth by making a dynamic business investment that also opens doors into Europe.

Freedom

Freedom of travel throughout the entire Schengen area.

No requirement

No immigration requirements for the business investor.

Citizenship

An application for citizenship can be made after one year of permanent residence.

Invest today for your family's future.

Get a Golden passport for your whole family.