Portugal Golden Visa Updates
The Portuguese parliament held a final vote on the details of the "housing legislation plan" (including the golden visa rules) on July 19 and successfully passed it.
01
Details of the new Portuguese Golden Visa Act
According to the latest draft of the Portuguese Parliament, the golden residence visa has not been completely terminated, but the investment category has been limited, and the closure of real estate investment and the reservation of other investment options have been explained.
cancel category
- EUR 1.5 million capital transfer or bank deposit;
- €350,000 to renovate a property & €500,000 to buy a property;
- investing in activities or supporting artistic creation;
- Restoration or maintenance of national cultural heritage.
reserved category
- Create 10 job opportunities;
- scientific research donation (500,000 euros);
- cultural heritage or artistic creation (250,000 euros);
- Venture capital or fund investment (€500,000).
02
Amendments to the detailed rules of some investment methods
Fund investment of 500,000 euros
The new Act is amended to: The aim is to realize the capitalization of companies through shares in non-real estate collective investment enterprises of participating units of investment funds or venture capital funds.
These investment funds or venture capital funds must be established under Portuguese law and have an investment period of at least five years.
In addition, at least 60% of the investment value must be realized by a commercial company headquartered in Portugal.
€500,000 company investment
Aiming at the establishment of a commercial company based in the Portuguese national territory, while creating 5 permanent jobs;
Or to enhance the share capital of a commercial company already established in the Portuguese national territory and which has created/maintained at least 10 jobs, at least 5 of which are permanent, and these jobs must be maintained for a period of at least three years.
03
Effective date of the new law
According to Portuguese law, the bill will eventually be submitted to the president for a ruling.
At present, there is no official announcement indicating when the government will implement the latest bill.
In fact, there are three possibilities for the implementation of the Act:
1. Directly approve the bill and implement it on the same day;
2. Do not accept the proposal request and return it to Parliament for revision;
3. Without expressing an opinion, request the Constitutional Court to evaluate the proposal.
While some categories in the scheme will be discontinued, all applications submitted before the new Act comes into force will be processed in accordance with existing statutes and regulations.
For investors who intend to move to Portugal, they should seize this last opportunity in time and seize the last window period for buying a house and moving to Portugal.
If you have any questions about this, please contact Xingyunhai International for details!
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