New legal provisions open up the possibility of foreign investors who enters the country regularly (v.g. holders of valid Schengen Visas, or beneficiaries of Visa exemption) of applying for a residence permit for pursuing investment activities by transferring capital, creating jobs or acquiring real estate.
Residence holders with permits for pursuing investment activities are entitled to:
- Enter Portugal without the requirement of a residential visa;
- Live and work in Portugal, having to stay in Portugal for a period of at least 7 days in the first year and no less than 14 days in subsequent years;
- Travel within the Schengen area without the need for a visa;
- Benefit from family regrouping;
- Request the assignment of Permanent Authorisation of Residence under Foreign Laws;
- Request Portuguese nationally, through naturalisation, complying with the requirements of the Nationality Law.
This regime is not applicable to citizens who have Portuguese nationality and nationals of the EU and the European Economic Area.
Who can request a residence permit for investment activities?
Third country nationals who either carry out investment activities personally or through a company that lead to, as a rule, at least one of the following situations in Portuguese territory for a minimum period of five years:
- The acquisition of real estate with a value of 500 thousand Euros or more. However in Sagres this is currently 400,000 thousand Euros
- Transfer of capital worth 1 million Euros or more (including investments in company stocks or shares)
- The creation of at least 10 jobs
- The transfer of capital in values greater than or equal to 250 thousand Euros, applied to support artistic production, recovery or maintenance of cultural heritage
- Transfer of capital in values greater than or equal to 350 thousand Euros, applied to scientific and technological research activities
- The purchase of real estate with a global value greater than or equal to 350 thousand euros (in an area of urban rehabilitation, or buildings over 30 years old and the implementation of recovery works to the property purchased)
- Transfer of values with a global value greater than or equal to 500 thousand euros for the purchase of participation units in investment funds or risk capital aimed at the capitalisation of small and medium companies which, for this purpose, present the respective capitalisation plan which is deemed viable.