As a major step for those who are aspiring Portugal Golden Visa applicants, the Portuguese government has announced radical modifications regarding the programme. The new changes, which have been approved and signed by the president of Portugal and the President of Portugal, Mr Marcelo Rebelo de Sousa, will end investing in real estate as a qualification option in applying for the Golden Visa.
What’s Changing?
The new regulations and regulations, expected to be in effect within the next few days, these choices for investment will take over the real estate market in order to qualify for getting the Portugal Golden Visa:
- Job Creation: Applicants are able to be considered if they have created a minimum of ten new positions in Portugal.
- Capital Transfer for Research: Capital transfer that is EUR at least 500,000 to research projects conducted by researchers from private or public research institutes that are part of the nation’s scientific or technological technology.
- Capital Transfer for Arts: Capital transfer that is EUR 250,000 or greater for the production of artistic work or promoting the arts. This could be the construction or restoration of the national heritage by various entities that are authorized.
- Capital Transfer to Investment Funds: A capital transfer that is EUR 5000 or more in the purchase of units from the investment fund or venture capital fund money earmarked for capitalizing firms in accordance with Portuguese law. A minimum of 60% of this investment is required to be made by commercial enterprises with their headquarters in Portugal. The investments must be of at least five years.
- Capital Transfer for Business Development: The capitalization that is EUR 500 000 or more to the creation of a business society that has its headquarters located in Portugal. This choice must be combined with the establishment of five permanent job positions or the increase in the capital share of a company already operating that is located in Portugal and resulting in the creation or maintenance of at minimum five permanent positions and a minimum time of 3 years.
Why These Changes?
The “Mais Habitacao/More Housing’ bill is an evolution in Portugal’s approach towards its Golden Visa program. With the diversification of investment options, Portugal aims to attract businesses and individuals who can aid in the development of its economy and job creation and research, as well as arts as well as commercial activity.
Explore Alternative Residency by Investment Programs
TEG Consultancy understands that these modifications could affect your plans to apply for a Portugal Golden Visa. We’re here to help you navigate the changes and look into alternative Residence by Investment (RBI) programs that will help you achieve your objectives. Our knowledge is available to programs which are offered in Canada, Greece, Spain, Malta, the UAE, as well as other countries.
If you have any concerns regarding the ‘Mais Habitacao or More Housing’ bill or you are looking for alternatives to RBI programs, you can contact our knowledgeable advisors. We’re committed to helping you discover the most effective route towards citizenship and international residence.
Stay Informed, Stay Prepared
The field of citizenship and residency programs continues to evolve. TEG Consultancy is dedicated to making sure you are informed of the current developments and to assist you in making informed choices regarding your next steps.
Connect with us now for a discussion of your options and begin the path to international citizenship.
