On the 30th of September, the President of Portugal formally ratified the new law concerning the “More Housing” bill, which will have major effects to the current Golden Visa scheme and are set to come into effect within the coming days
Even though real estate investments will no longer qualify for the Golden Visa, there is still the possibility to apply for the programme by means of the following:
- Capital transfer of the amount of 500 thousand Euros, or higher, for the acquisition of units of investment funds or venture capital fund of funds dedicated to the capitalisation of companies, capital injected under the Portuguese legislation, whose maturity, at the moment of the investment, is, at least, of five years and, at least, 60% of the investments is realized in commercial companies with head office in national territory;
- The creation of, at least, 10 job positions;
- Capital transfer with a value equal to or above 500 thousand Euros for investing in research activities conducted by public or private scientific research institutions involved in the national scientific or technologic system;
- Capital transfer with a value equal to or above 250 thousand Euros for investing in artistic output or supporting the arts, for reconstruction or refurbishment of the national heritage, through the local and central authorities, public institutions, public corporate sector, public foundations, private foundations of public interest, networked local authorities, local corporate sector organizations, local associations and public cultural associations, pursuing activities of artistic output, and reconstruction or maintenance of the national heritage;
- Capital transfer of the amount of 500 thousand Euros, or higher, for constitution of a commercial society with head office in the national territory, combined with the creation of five permanent working jobs, or for the reinforcement of the share capital of a commercial society with head office in national territory, already existing, with the creation or keeping of working jobs, with a minimum of five permanent jobs, and for a minimum period of three years.
Finally, the Prime Minister has also recently adverted that the NHR tax regime shall be coming to a closure in 2024, hence, anyone interested in applying should consider doing it righ away.
