There are new proposed measures that will be analysed by the parliament next month.
It has been weeks since the government proposed changes to the law that included the ending of the Golden Visa programme in Portugal. Since then, Portuguese parties have been drafting their own proposals and the Socialist party, which is the majority party, is now proposing changes that are encouraging to those considering obtaining the Portuguese Golden Visa.
The new proposal suggests keeping the Golden Visa in force, removing only two of the possible investment activities – Property Acquisition and Capital Transfer.
This means that whoever wants to obtain a Golden Visa, would still be able to do so by:
- Investing on the acquisition of investment fund or venture capital fund units committed to the capitalization of companies incorporated under the Portuguese law, with a maturity of at least five years and with at least 60% of the investment portfolio in companies with a registered office in the national territory
- Investing on research activities of public or private entities that are part of the national scientific and technological system
- Investing in support of artistic production or in the recovery or maintenance of national cultural heritage
- Creating Jobs
- Incorporating or increasing the share capital of a company that is registered in Portugal, creating, or maintaining a minimum of 5 permanent jobs for a period of 3 years
This new proposal will be discussed and the final wording will be voted on the 19th of July 2023.
If you have any questions regarding the Golden Visa or want to apply for one, contact our immigration team on immigration@valadascoriel.com.
