New Golden Visa investor rules
The Portuguese Government has introduced changes to its successful Authorisation for Residency through Investment programme or Golden Visa.
Now in its fifth year, Golden Visa holders who have now passed the five-year period will be eligible to “apply for a permanent residence permit in Portugal if they continue to invest in Portugal”.
The permanent residence permit for Golden Visa holders will be “exempt from a minimum stay of two months a year in Portugal”. In other words if they maintain their investment in return they will be exempt from statutory periods of residence.
Another change has to do with investments in shares of venture capital funds and in companies based in Portugal that help create jobs.
For those who invest in stocks and shares in venture capital funds, the rules mean that they must “produce a declaration issued by the management company of the investment fund ensuring the viability of the capitalisation plan in that it can mature for at least five years and the application of at least 60% of the investment in commercial companies established in Portuguese national territory.”
Regarding regulations on the transfer of capital for the establishment of a company in Portugal the requirement is now the “creation of five permanent jobs” and the capital transfer amount must be “a minimum of €350,000”.
A further change states that on renewing the visa for investment activity, the applicant can now “change the type of investment but may not reduce the amount of investment value stipulated”. In other words investors can change what they are investing in but cannot lower the investment value.