12.02.2021

Practice Areas: Real Estate

Amendments to the legal regime for residency authorisations for investment

This Friday Decree Law nº14/2021 was published, which amends Law nº23/2007, approving the new minimum investment amounts for the obtainment of Golden Visas.

The new rules come into force in January 2022.

Get to know the new limits and terms of the investment options that the Real Estate team of Abreu Advogados has summarised for you.

Investment options that were the object of change in the terms of this law:

  1. Capital transfer, which becomes an amount equal to or greater than 1,500,000 euros;
  2. Investment in research activities developed by public or private institutions of scientific research which are part of the national scientific and technological system – amount equal to or greater than 500,000 euros;
  3. Acquisition of units in investment funds or venture capital funds for the capitalisation of businesses that are constituted under Portuguese law, whose maturity, at the time of investment, is at least five years and at least 60% of the value of the investments is carried out in trading companies headquartered in Portugal – amount equal to or greater than 500,000 euros;
  4. Creation of a trading company with headquarters in Portugal together with the creation of five permanent job posts, or for the strengthening of the equity in a trading company headquartered in Portugal that is already established, with the creation or maintenance of job posts, a minimum of five of which must be permanent, and for a minimum period of three years – amount equal to or greater than 500,000 euros.

 

With respect to real estate investment:

Property acquired for the purposes of a Golden Visa, whether or not they part of urban regeneration schemes or  intended for residential use, will only provide access to this scheme if they are located in the autonomous regions of the Azores and Madeira or in areas in the countryside identified in ordinance n.º 208/2017 of 13th July.

 

This new legal framework comes into force on 1st January 2022. 

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