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.
