🇵🇹🏡 Changes to residence permits for investors in Portugal! 📈💼
Recently, Bill no. 71/XV/1st, which contains important changes for those wishing to invest in Portugal, was approved in the Parliament. The main change is the revocation of certain types of Residence Permits for Investment activities.
The following categories will no longer be eligible for a Residence Permit:
– Purchase of property worth €500,000.00 or more.
– Purchase of property and investment in renovations totalling €350,000.00 or more.
– Capital transfers totalling €1,500,000.00 or more.
It is important to note that these modalities remain valid for applications made before the new law comes into force and for future applications for renewal or family reunification.
Another notable change is the elimination of the reference to “shares in investment funds or venture capital funds aimed at the capitalisation of companies”, which has now been replaced by “shares in collective investment undertakings not linked to real estate”.
This law, part of the “More Housing” package, aims to direct investment to strategic areas and eliminate activities related to real estate investment, with the aim of making housing more accessible.
Residence permits for investment activities will continue to be granted on the basis of other modalities, such as job creation, investment in scientific research, support for artistic production and more.
Despite the President of the Republic’s veto, if the law is approved again in Parliament, it will be promulgated and published in the Diário da República.
🇵🇹💼 #InvestmentPortugal #MoreHousing #LegislativeChanges
