"Pacote Mais Habitação" - Residence Permit for Investment

With these changes, the sovereign bodies aim to address issues related to housing in Portugal.

In this publication, we analyse the amendments concerning Residence Permits for Investment (Golden Visas).

This decree revokes the residence permit regime for investment activity in the following cases:

• Transfer of capital amounting to €1,500,000.00 or more.
• Acquisition of real estate worth €500,000.00 or more.
• Acquisition of real estate amounting to €350,000.00 or more, subject to rehabilitation works, as provided for in subparagraphs i), iii), and iv) of paragraph d) of no. 1 of article 3 of Law No. 23/2007, of 4 July, under the terms set out in its article 90-A, from 7 October 2023.

PENDING APPLICATIONS

All applications for the granting and renewal of residence permits for investment activity that have already been submitted and are awaiting a decision from the competent authorities will be accepted.

The following investment options remain admissible:

• The creation of at least 10 jobs.
• The transfer of capital amounting to €500,000.00 or more, to be applied to activities carried out by public or private scientific research institutions integrated into the national scientific and technological system.
• The transfer of capital amounting to €250,000.00 or more, to be applied in investment or support for artistic production, recovery, or maintenance of national cultural heritage.
• The transfer of capital amounting to €500,000.00 or more, intended for the acquisition of units in non-real estate collective investment undertakings established under Portuguese law, with a maturity of at least five years at the time of investment, and at least 60% of the investment value being realised in commercial companies based in Portugal (including investment funds or venture capital funds);
• The transfer of capital amounting to €500,000.00 or more, intended for the establishment of a commercial company with headquarters in Portugal, combined with the creation of five permanent jobs, or for strengthening the share capital of an already established commercial company based in Portugal, with the creation of at least five permanent jobs or the maintenance of at least ten jobs, with a minimum of five permanent, for a minimum period of three years.

Additionally, all the above-mentioned investment activities may not be directly or indirectly intended for real estate investment.

ALREADY GRANTED PERMITS

Regarding residence permits already granted under the previous version, their renewal will be allowed. However, they will be converted into residence permits for immigrant entrepreneurs, requiring holders to comply with a minimum stay period of seven days, consecutive or non-consecutive, in the first year, and fourteen days, consecutive or non-consecutive, in subsequent two-year periods.