Investors in research and culture entitled to a residence permit in Portugal

25 February 2015

The investment of 350,000 euros or more in research activities conducted by public or private institutions will entitle the investor to be granted a “golden visa” by Portugal, the deputy prime minister said in Lisbon.

Paulo Portas said that the amendments to the regime for residence permits for investment activity (ARI) also addressed the possibility of granting residence permits to those spending “not less than 350,000 euros” to “invest in or support artistic production, recovery or maintenance of assets.”

The new system also grants a “golden visa” for the purchase of a property including “execution of urban rehabilitation works” in the amount of 500,000 euros or more.

“We will propose a positive discrimination for investments that are in low-density areas, that is with less than 100 inhabitants per square kilometre or per capita GDP [gross domestic product] below 75 percent of the national average,” he said.

The current allocation of “golden visas,” created under the ARI programme is based on three requirements: acquisition of property of a value of no less than 500,000 euros, transfer of capital in the amount of no less than 1 million euros and creating at least 10 jobs.

The “golden visas” have been under scrutiny after, in November 2014, a police investigation led to the arrest of senior state officials, suspected of various illegal practices such including corruption related to the “golden visa” scheme. (macauhub/PT)