{"id":1212,"date":"2020-03-25T17:19:13","date_gmt":"2020-03-25T17:19:13","guid":{"rendered":"https:\/\/rosarioduarte.kobudev.com\/?p=1212"},"modified":"2020-03-31T11:20:14","modified_gmt":"2020-03-31T11:20:14","slug":"golden-visas","status":"publish","type":"post","link":"https:\/\/rosarioduarte.kobudev.com\/en\/golden-visas\/","title":{"rendered":"Golden Visas: The beginning of the end?"},"content":{"rendered":"

Changes in \u201cgolden visas\u201d issuance were recently approved by Parliament, as a result of the discussion on the details of the 2020 State Budget.<\/span><\/p>\n

Before we understand the impact of this measure, here is a summary of what \u201cgolden visas\u201d are and who can request them.\u00a0<\/span><\/p>\n

 <\/p>\n

Residence Permits for Investment Activity or \u201cGolden Visas\u201d \u2013 What are they?\u00a0<\/b>\u00a0<\/span><\/h3>\n

 <\/p>\n

The scheme regarding Residence Permits for Investment (\u201c<\/span>ARI<\/span><\/i>\u201d, in short, in Portuguese, or usually called \u201cgolden visas\u201d) came into force on 8 October 2012 through Law nr. 29\/2019, 9 August, providing foreign investors with the possibility to request a residence permit for investment activity through at least one of the investments currently foreseen by the Law and for a minimum period of five years, among which we point out the following investment activities:\u00a0<\/span><\/p>\n

    \n
  1. The transfer of capital in an amount equal or greater than 1 million euros;\u00a0\u00a0<\/span><\/li>\n
  2. The creation of at least 10 jobs;\u00a0\u00a0<\/span><\/li>\n<\/ol>\n

    iii. The purchase of real estate in an amount equal or greater than 500 thousand euros.\u00a0<\/span><\/p>\n

    Find out which other types of investment are included in the \u201cvisa gold\u201d issuance scheme and which rights <\/span>ARI<\/span><\/i> beneficiaries\u00a0 are entitled to <\/span>here<\/span><\/a>.<\/span><\/p>\n

     <\/p>\n

    Golden Visas: for who?<\/b><\/h3>\n

     <\/p>\n

    For \u201cforeign investors\u201d, meaning all Third State national citizens who carry out an investment activity, personally or by means of a company established in Portugal or in another E.U. State with a permanent establishment in Portugal. The <\/span>ARI<\/span><\/i> scheme or the issuance of \u201cgolden visas\u201d is not applicable to citizens of Portuguese nationality nor to E.U. and EEE citizens.<\/span><\/p>\n

     <\/p>\n

    What are the alterations which have occurred regarding \u201cgolden visas\u201d?<\/b><\/h3>\n

     <\/p>\n

    On 5 February 2020 a legislative authorization proposal was approved regarding the <\/span>ARI <\/span><\/i>scheme which determined <\/span>limitations in the issuance of \u201cgolden visas\u201d <\/b>regarding real estate investments in inland municipalities or in the Madeira and Azores autonomous regions, as well as a rise in the minimum amount of necessary investments and the minimum number of jobs which must be created.\u00a0\u00a0<\/span><\/p>\n

    The alteration measure regarding the issuance of \u201cgolden visas\u201d intends to \u201chelp promote investment in regions with low population density, as well as investment in urban regeneration, in cultural heritage, in activities of high environmental or social value, in investment in production and in the creation of employment.\u201d\u00a0<\/span><\/p>\n

    This solution involves the end of the possibility of obtaining \u201cgolden visas\u201d through real estate investment in areas such as Lisbon and Porto, as well as in the Coastal Intermunicipal Communities with the objective of <\/span>relieving pressure on the real estate market and to contribute to greater territorial cohesion.\u00a0<\/b><\/p>\n

     <\/p>\n

    What is the impact of these alterations on \u201cgolden visas\u201d?\u00a0<\/b><\/h3>\n

     <\/p>\n

    Even though this measure limits \u201cgolden visas\u201d, it does not bring the <\/span>ARI<\/span><\/i> scheme to an end.<\/span><\/p>\n

    The approved proposal does not impair the possibility of \u201cgolden visas\u201d renewals issued under the current scheme, nor the possibility of the issuance or renewal of \u201cgolden visas\u201d for the purpose of family reunification provided by the Law when the residence permit for investment has been granted according to the current scheme.\u00a0<\/span><\/p>\n

    It is important to point out that the measure which will come into effect ensures that \u201cgolden visas\u201d can continue to be attributed to the\u00a0 investors who promote the <\/span>creation of companies and jobs<\/b>\u00a0in the Lisbon and Porto metropolitan areas or in coastal cities in the country.\u00a0<\/span><\/p>\n

     <\/p>\n

    \n

     <\/p>\n

    This legislative authorization has the duration of one year, which corresponds to the 2020 State Budget. If you need to know more about the \u201cgolden visas\u201d issuance procedure, contact our legal services <\/span>here<\/span><\/a>.\u00a0<\/span><\/p>\n

     <\/p>\n

    \"Golden<\/p>\n","protected":false},"excerpt":{"rendered":"

    Changes in \u201cgolden visas\u201d issuance were recently approved by Parliament, as a result of the […]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1212","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/rosarioduarte.kobudev.com\/en\/wp-json\/wp\/v2\/posts\/1212","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rosarioduarte.kobudev.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rosarioduarte.kobudev.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rosarioduarte.kobudev.com\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/rosarioduarte.kobudev.com\/en\/wp-json\/wp\/v2\/comments?post=1212"}],"version-history":[{"count":17,"href":"https:\/\/rosarioduarte.kobudev.com\/en\/wp-json\/wp\/v2\/posts\/1212\/revisions"}],"predecessor-version":[{"id":1238,"href":"https:\/\/rosarioduarte.kobudev.com\/en\/wp-json\/wp\/v2\/posts\/1212\/revisions\/1238"}],"wp:attachment":[{"href":"https:\/\/rosarioduarte.kobudev.com\/en\/wp-json\/wp\/v2\/media?parent=1212"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rosarioduarte.kobudev.com\/en\/wp-json\/wp\/v2\/categories?post=1212"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rosarioduarte.kobudev.com\/en\/wp-json\/wp\/v2\/tags?post=1212"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}