This is a residing visa valid for 12 months however renewable for consecutive 24 months. The visa applicant can apply for a 60 months Permanent Residence upon living officially in the country for another five years. After the duration elapse while still holding the visa, the applicant can seek a Nationality visa.
Portugal grants Residence Permit to investors, foreign pensioners with rental earnings or intellectual property owners. For the visa qualification, the applicant must prove to have the means to subside for a period not less than a year. Despite the absence of a legal obligation to have such means of survival in Portugal, the amount should be deposited in a Portuguese Bank account. The aim is to substantiate the purpose of guaranteeing stable and secure resources that can sustain the permit applicant’s basic needs and of the family (spouse and minors), if applicable.