Where else can I invest in Portugal's golden visa program now that they are scrapping real estate?

Answers

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  Raquel de Matos Esteves

  RME Legal, Soc. de Advogados, SP, RL

  September 22, 2023

  The options available after the new law enters into force will be: funds; job creation; investment in specific activities. Job creation (and company creation) are demanding options, which will involve the investor to keep a business running for at least 5 years, with all costs associated; other specific investments should be seen as donations, they are hassle free but would not typically involve any return on investment; finally, the investments in Funds is a completely passive type of investment and return is expected, therefore an excellent choice for those who don't have a business activity in Portugal and are comfortable with this type of investment.

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  Sara Sousa Rebolo

  Prime Legal

  September 09, 2023

  Until the end of September the current law is still in force so real estate investments are still eligible. When the new law enters into force, the available investment options for golden visa will probably be the following ones: (i) the creation of at least 10 jobs; (ii) capital transfer in an amount equal to or greater than 500 thousand euros, applied in research activities carried out by public or private institutions of scientific research, integrated in the national scientific and technological system; (iii) capital transfer in an amount equal to or greater than 250 thousand euros, which is applied in investment or support to artistic production, recovery or maintenance of the national cultural heritage, through central and peripheral direct administration services, public institutes, entities that integrate the business public sector, public foundations, private foundations with public utility status, inter-municipal entities, entities that are part of the local business sector, municipal associative entities and public cultural associations, which pursue objectives in the area of artistic production, recovery or maintenance of the national cultural heritage; (iv) transfer of capital in an amount equal to or greater than 500 thousand euros, intended for the acquisition of shares in non-real estate collective investment entities, which are incorporated under Portuguese legislation, whose maturity, at the time of investment, is at least five years old and at least 60/prct. of the value of investments is materialized in commercial companies headquartered in Portugal; (v) transfer of capital in an amount equal to or greater than 500 thousand euros, intended for the incorporation of a commercial company with headquarters in Portugal, combined with the creation of five permanent jobs, or to reinforce the social capital of a commercial company headquartered in Portugal, already incorporated, with the creation of at least at least five permanent jobs or maintenance of at least ten job positions, with a minimum of five permanent employees, and for a minimum period of three years.

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  Tiago Gali Macedo

  NEXT/Gali Macedo & Associados

  September 06, 2023

  After the new legislation comes into force, the remaining possibilities to obtain a residency permit by investment/golden visa in Portugal will be: creation of at least 10 jobs; capital transfer with a value equal to or above EUR 250.000 in support of cultural activities or artistic production for the recovery or maintenance of national heritage; capital transfer with a value equal to or above EUR 500.000, for the acquisition of units or parts in non-real estate collective investment undertakings, dedicated to the capitalization of companies; capital transfer with a value equal to or above EUR 500.000 to: set up a commercial company with head office in Portugal, along with the creation of five permanent job positions, or the capital increase of a commercial company already established, with head office in Portugal, the creation of a minimum of five permanent jobs or maintenance of a minimum of ten jobs, from those at least five must be permanent jobs and for at least three years.

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  Diogo Capela

  Lamares, Capela & Associados, Sociedade de Advogados

  September 06, 2023

  The legal amendments have not yet been enforced, so Golden Visa applications through real estate investments can still be submitted until the law comes into force. It is important to act quickly as the new law is expected to take effect soon. After the legal changes, the Golden Visa program will still be in place, with the following acceptable investment types: creating 10 jobs; transferring 500 thousand euros or more for the acquisition of units in investment or venture capital funds; transferring an amount equal to or greater than 500 thousand euros for scientific research activities; transferring an amount equal to or greater than 250 thousand euros for artistic production activities or the preservation of Portuguese cultural heritage; transferring capital equal to or greater than 500 thousand euros to establish a commercial company in Portugal, combined with creating five permanent jobs, or to increase the share capital of an existing Portuguese company, with the creation or maintenance of jobs for a minimum of three years.