Residence permit for investment in Portugal requires minimum period of 5 years

25 January 2013

Permits to reside in Portugal granted as part of the programme for Residence Permits for Investment Activities (ARI) require that the investment remain in the country for a minimum of five years, the new delegate in Macau for Portugal’s investment promotion agency, AICEP, said Thursday.

ARI, which is also know as the Golden Residence Permit is a measure implemented by the Portuguese government to attract foreign investment, which is valid for operations carried out from 8 October 2012, and residence permits are focused on non-Europeans that transfer amounts of over 1 million euros and that launch businesses that create more than 30 jobs or acquire properties worth at least 500,000 euros.

The residence permit is granted for one year and is renewable for a further two periods of two years, based on proof of the financial transaction and suitability of the investor.

At a seminar in Macau about the ARI programme, the AICEP delegate, Maria João Bonifácio, said that the tourism, automotive, aeronautical and health technology sectors were “very attractive” to Chinese businesspeople.

“The automotive sector is very important in Portugal, as is the aeronautical sector, in which Brazilian aeronautical company Empresa Brasileira de Aeronáutica (Embraer) is already present, and there are also other sectors for which we intend to attract investments, such as moulding, machinery, medicine and health,” she said.

At the session the Portuguese consul in Macau, Manuel Carvalho, said that the aRI programme was an “invitation for people to invest in Portugal” and added that he was convinced that it was a “highly competitive offer compared to others of its kinds across the world”.

As well as promoting the ARI programme, Bonifácio also noted Portugal’s interest in “attracting other types of investment and to boost Portuguese exports and trade with China, Macau and Hong Kong”. (macauhub)