Portuguese Government Amends Golden Visa

Last month (May 2017), the Portuguese government lowered the minimum investment amount required for obtaining a Golden Visa for Portugal. The lowered requirements now allow applicants to qualify for a Portugal Golden Visa via investments as low as 200,000 Euros. This change in the minimum requirements is aimed at boosting small and medium sized companies and enhancing the economy.

The new minimum requirement is the investment of 200,000 euro in companies that fall under the ‘Plan of Recovery or Revitalization’ category or 350,000 euro in funds for the creation or advancement of Portuguese businesses. With an aim at advancing the capitalization of smaller enterprises, this new amendment hopes to drive the economy forward.

Portugal golden visa investors now have another means of obtaining Portuguese residency with this added business investment qualifier. After a cabinet meeting, the minister of internal administration, Constança Urbano de Sousa, said that those who invest 350,000 euros coupled with the creation of at least 5 jobs will be eligible for a Portuguese golden visa.

This is lower than the required real estate investment qualifying option and aims to attract investors towards the business sector. This spreads out investments across different sectors while opening more opportunities to Golden Visa applicants.

Since 2012, when the Portugal golden visa program launched, through 2016 over 4,200 Portuguese residence permits were granted to foreign investors. The golden visa for Portugal holders are mainly from China, with 3.050 granted, then from Brazil with 247 golden visas granted, followed by Russia, South Africa, and Lebanon.

This new category for investment will hopefully attract more investors and thereby boosting Portugal’s economy and assisting small and medium sized enterprises in the country.

Besides for this new investment type, there are several other qualifying investments possible for obtaining a Golden Visa for Portugal. These include:

1. Capital transfer with a value equal to or above 1,000,000 Euros

2. Capital transfer with a value equal to or above 350,000 Euros for investing in research activities conducted by scientific research institutions involved in the national scientific or technologic system

3. Capital transfer with a value equal to or above 250,000 Euros for investing in the arts, refurbishment of national heritage

4. The creation of at least, 10 jobs

5. Real estate purchase with construction dating back more than 30 years or located in urban regeneration areas for a total value equal to or above 350,000 Euros