The Portuguese Government has published on the 12th of February the so waited new rules regarding the residence permit by investment (Decree-Law no. 14/2021 of 12th February), more commonly known as the Portuguese Golden Visa.
These new rules will only enter into force on the 1st of January 2022. This is good news, as investors still have until the end of the year to be under the current law.
The changes will be as follows:
• The Financial Investment type, which means the transfer of at least €1 million, will change its minimum to €1.5 million.
• The Real Estate Investment type and the Real Estate Investment and its rehabilitation for commercial and services purposes will both remain unchanged, such investments being of at least €500,000.00 (reduced to €400,000.00 if located in a “low density area”), or €350,000.00 (reduced to €280,000.00 if located in a “low density area”).
• The Real Estate Investment type and the Real Estate Investment and its rehabilitation for housing/residential purposes will be limited to properties located in “low density area” (islands of Madeira and Azores or in the interior territories of Portugal), and will keep the same minimum amount (€400,000.00 or €280,000.00).
• The Investment in scientific research that is conducted by accredited institutions that are part of the national scientific and technological system also changes from €350,000.00 to a minimum amount of €500,000.00 (reduced to €400,000.00 if located in a “low density area”).
• The Investment in units of Portugal-regulated fundsdedicated to the capitalisation of companies, provided that the fund invests at least 60% in Portugal-registered businesses, and that the maturity of said units is no less than 5 years from the date they are bought, changes from €350,000.00 to a minimum amount of €500,000.00.
• The Investment in setting up a Portuguese company that creates and keeps 5 new permanent jobs, or in increasing the share capital of an existing Portuguese company that creates or keeps at least 5 permanent jobs for a minimum period or 3 years, changes from €350,000.00 to a minimum amount of €500,000.00.
We stress that all the Golden Visa applications submitted until the 31st of December 2021 will benefit and be granted under the current rules, which means that the above mentioned changes will be applicable only to investors and their families who submit their application after the new Law comes into force.
We remain available should you require any further information from us, and we would be keen in assisting you with your Golden Visa application in Portugal.
Any questions you might have, do not hesitate to contact us at:
info@horizonconsulting.pt or call us directly.