Amendment to the Legal Regime of Residence Permits for Investment Activities (Gold Visa)

Amendment to the Legal Regime of Residence Permits for Investment Activities (Gold Visa)

Decree-Law no. 14/2021 of 12 February was published, amending the legal regime for the entry, stay, exit and expulsion of foreigners from the national territory, regarding the residence permit for investment activity applications filled after the 1st January 2022.

In accordance with the new regime, in the types of investment of acquisition of real estate, only real estate located in the Autonomous Regions of the Azores and Madeira or in inland territories (Determined by Ordinance) will allow the access to the Residence Permit.

We also highlight the increase of the minimum amounts that must be invested in order to apply for this residence permit regarding capital transfer types of investment:

I. From 1 million euros to 1,5 million euros on the straight capital transfer;

II. From EUR 350,000 to EUR 500,000 for the following types of investment:

i. Capital transfers for application in research activities developed by public or private scientific research institutions, integrated in the national scientific and technological system;

ii. Capital transfers for the acquisition of participation units in investment funds or venture capital funds focused on the capitalization of companies, established under Portuguese law, with a maturity, at the time of the investment, of at least five years and at least 60% of the value of the investments made in commercial companies based in national territory;

iii. Capital transfers, aimed at setting up a commercial company or reinforcing the share capital of a commercial company with its head office in national territory, combined with the creation or maintenance of jobs, with a minimum of five permanent jobs, and for a minimum period of three years.

It is safeguarded the possibility of renewing residence permits or granting or renewing residence permits for family reunion, after that date, when the investment residence permit has been granted under the previous regime.

Marisa Frade

Marisa Frade

Trainee Lawyer