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Gold Visa Changes

24 Jan 2019
Gold Visa Changes
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What changes have gold visas undergone lately?
Regulatory changes to the ´gold´ visa regime, including permanent residence permits for those holding investment activities in the country, will take effect on Monday.
Among the changes contained in the regulatory decree is the granting of permanent residence permit to holders of permits for investment activity.
That is, a permanent residence permit was created only for the holders of ´golden´ visas, and they are exempt from the requirement of a minimum stay of two months a year in Portugal, lawyer José Miguel Albuquerque, PLMJ associate, told Lusa. .
"The regulatory decree excepts [the minimum stay rule of two months], but is silent" as regards minimum stay requirements in Portugal, he added.
The first holders of ´gold´ visas are now serving five years, the minimum period allowing them to proceed to apply for a permanent residence permit in Portugal.
According to the lawyer, the law now grants permanent residence permit to the holders of ´gold´ visas if they keep the investment in Portugal. That is, they maintain the investment and the "currency of exchange is to exceed the residence periods", explained José Miguel Albuquerque.
Venture capital funds
Another amendment to the decree, which regulates the law that came into force almost a year ago (28 October 2017), concerns investments in venture capital fund units and companies based in territory with the creation of job positions. job.
For investors investing in venture capital fund units, it is regulated that a "declaration issued by the management company of the respective investment fund is required, attesting to the viability of the capitalization plan, the maturity of at least five years. investment of at least 60% of investment in commercial companies headquartered in the national territory ", according to the law.
Capital transfer
The "transfer of capital destined to set up a company in Portugal, with the creation of five permanent jobs," said the lawyer.
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