New Era Starts for Portugal's Golden Visa Programme

Following months of uncertainty, Portugal’s President has now officially signed off the ”More Housing” bill which ends real estate investment as a route to the Golden Visa programme. In the coming days, the new law will be published and a new reformed Golden Visa programme will be launched which mainly focuses on fund investments and job creation.

This change is designed to attract foreign investment in more productive sectors of the economy and reduce pressure on the housing market.

The new legislation includes five new investment options as follows:

1. The creation of at least ten jobs;
2. Transfer of capital equal or superior to EUR 500,000, applied to research activities by public or private scientific research institutions, integrated into the national scientific and technological system;
3. Transfer of capital equal or superior to EUR 250,000, applied to investment or support for artistic production, recovery, or maintenance of national cultural heritage through central and peripheral direct administration services, public institutes, entities that integrate the public business sector, public foundations, private foundations with public utility status, inter-municipal entities, entities that integrate the local business sector, municipal associative entities and public cultural associations, which pursue attributions in the area of artistic production, recovery or maintenance of national cultural heritage;
4. Transfer of capital equal or superior to EUR 500,000, intended for the acquisition of shares in specific collective investment organisms, which include certain types of funds, which are incorporated 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 made in commercial companies based in the national territory;
5. Transfer of capital in an amount equal or superior to EUR 500,000, intended for the incorporation of a commercial company with a registered office in the national territory, combined with the creation of five permanent jobs, or for the reinforcement of the share capital of a commercial company with registered office in the national territory, already incorporated, with the creation of at least five permanent jobs or the maintenance of at least ten jobs, with a minimum of five permanent jobs, and for a minimum period of three years.

The minimum investment amounts for options 1, 2, and 3 may be reduced by 20% when the investment activity is carried out in low-density territories, defined as areas with fewer than 100 inhabitants per square kilometre or GDP per capita of under 75% of the national average.

La Vida has identified several fund options that meet the criteria of the new programme. Please speak to our team regarding the next steps.