Recent legislative changes are sure to attract significant attention from foreign investors interested in obtaining a visa for Portugal.
On October 2012 the Portuguese government passed a new law that will enable investors from non-EU countries to gain residency if they either transfer one million or more euros in capital into Portugal, form a business that creates a minimum of 30 jobs, or purchase a property to the value of a minimum of €500,000.
Throught this law it is now possible to a non-Eu citizen who buy a property in Portugal to gain access to a permanent residence permit, as well as to Portuguese citizenship. Like any other holder of a
residence permit in Portugal, persons with a golden visa may travel around the Schengen Area.
Dubbed the "Golden Passport," this new visa will allow non-EU citizens to receive a Portugal visa, permitting them to enter and stay in Portugal assuming at least one form of investment is undertaken for a minimum period of five years. The holders of Golden Residence Permit for Investment Activity have the right to family regrouping, and may gain access to a permanent residence permit, as well as to Portuguese citizenship in accordance to the current legal provisions.
The new regulations are designed to bring greater foreign investment into the country by offering in exchange a quicker and simpler way for investors to receive a Five Year Temporary Residence Permit (golden visa) for non EU Citizens.
The new simple legislation means that it is now possible for a portuguese residence permit to be granted without the need to first obtain a full residency visa for Portugal, if the foreign national makes one of the following investments:
Types of qualifying investments (Investments maintained for a minimum of 5 years)
- Property Investments - Acquisition of Properties above € 500,000 in total.
- Capital Investments - Transfer of Funds above € 1,000,000.
- Job Creation - Creation of a minimum of 30 jobs.
This means that nationals from countries such as Japan, China, India, USA, Russia, Saudi Arabia, Angola, etc. will now have access to a special VISA, named Golden Visa, provided they fulfill the following requirements.
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