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How long do I have to maintain the jobs I created in my business to keep my permanent residency in Portugal?

I am working on a business plan that could support my Portuguese permanent residency application. I understand that I need to create at least 10 jobs. How long do I have to maintain these jobs to keep my permanent residency? For instance, if I create 10 jobs during the first two years, then decide to scale down and only keep 7 positions, will I lose my permanent residency?


Answers
  • Caiado Guerreiro
    May 28, 2019

    For purposes of keeping the Golden Visa and being granted with the renewal cards, the law requires that the investor keep the investment chosen during the entire period of the program. This means that in case of 10-jobs creation, such job positions must be kept during the five years. In case an employee decides to quit or is dismissed, a new one shall be hired to replace him or her immediately.

  • Alves & Silva Pereira
    May 10, 2019

    Regarding your question related to how long do you have to maintain the jobs created in your business to keep permanent residency in Portugal, it will be necessary to maintain it for the period of five years. Although the investment amount may be reduced by 20% (8 employees) in case such investment is made in low-density population areas. Therefore, if you decide to go forward with investment related to creation of 10 jobs, you will have to keep them during five years. It is not possible to scale down and only keep seven positions. Otherwise, you will lose your permanent residency in Portugal. In addition, this investment always has to be proven by presenting a declaration from social security that proves the mantainance of a minimum legal number workplace required.