Today, June 30th, the new conditions for Portuguese Golden Visa applications were gazetted and will come into force on July 1st. The new conditions are:
a) acquisition of property construction of which was finished at least 30 years ago or located in urban renewal areas, and refurbishment works in the amount of € 350,000;
b) transfer of capital of at least € 350,000 to be applied in scientific activities developed by public or private institutions which are part of the national technological and scientific system;
c) transfer of capital of at least € 250,000 to be applied in investment or support of artistic production and recovery or maintenance of cultural heritage;
d) acquisition of participation units of at least € 500,000 in investment funds or venture capital dedicated to the capitalization of small and medium enterprises.
However, the minimum threshold can be 20% lower if the investment is executed in territories of low density. These territories are defined as having less than 100 inhabitants per square km or GDP which is less than 75% of the national average.
The initial conditions of the program still apply, ie:
a) Acquisition of property for a minimum amount of € 500,000 (with no liens or encumbrances);
b) Minimum capital investment of € 1,000,000 (this also includes investment in shares);
c) Creation of at least 10 jobs.