The Portuguese government has reduced the minimum amount of investment in small and medium-sized companies required to grant a residence permit to foreigners under the golden visas programme, the minister for Internal Administration said on Thursday in Lisbon.
Constança Urbano de Sousa said at the end of a Cabinet Meeting that foreigners who invest “350,000 euros in the creation of companies or in the capital increase of companies already in operation as long as they create or maintain five permanent jobs” are entitled to a residence permit.
The investment required in the companies to obtain a golden visa is therefore less than the 500,000 euros required for the purchase of real estate, the minister noted that, “when the minimum is the same, investment in the real estate sector is more attractive than in other activities.”
The “investment of 200,000 euros in Portuguese companies that are under a Plan of Recovery or Revitalization” or “of 350,000 euros in funds for the capitalisation of Portuguese companies” are other foreign investments that will offer a visa to investors.
These changes, whose bill will now be sent to parliament, are intended to facilitate capitalisation and investment in small and medium-sized enterprises, the minister said, adding that “these companies are the drivers of the Portuguese economy.”
Between 2012, when Portugal began the process of granting golden visas, and the end of 2016 4,202 residence permits were granted under the scheme.
By nationality, China comes first with 3,050 permits, followed by Brazil with 247, Russia (148), South Africa (137) and Lebanon (72). (macauhub)