GOOD NEWS ABOUT THE RESIDENCE PERMIT PROGRAM IN PORTUGAL THROUGH REAL ESTATE INVESTMENT

The Portuguese Parliament has adopted changes to the Golden Visa program that remove the direct purchase of real estate from the available investment options.At the same time, obtaining a residence permit in Portugal through the acquisition of real estate remained, but not directly, but through funds.

One of the investment options available includes the transfer of capital equal to or greater than €500,000 to purchase shares in certain funds.

Developers should have open funds, where they invite investors. The investor invests at least €500,000 and receives real estate on security. Which, in turn, is the basis for applying for a residence permit in Portugal.

Write to us info@mercuryestate.com and we will promptly advise you on the conditions for obtaining the "Golden Visa", the cost of real estate, rental rates, taxes.

After the changes come into force, investors will no longer be able to directly invest in real estate under the program. Instead, suggested investment options include:

• Transfer of capital equal to or greater than €500,000 intended for the research activities of public or private research institutions integrated into the scientific and technological national system.
• Transfer of capital equal to or greater than €250,000 intended to invest in or support artistic production, restoration or preservation of the national cultural heritage, through direct management services, public institutions, special public or private foundations.

• Transfer of capital equal to or greater than €500,000 intended for the acquisition of shares in certain funds with a maturity of at least five years at the time of investment and at least 60% of the value of investments made in commercial companies based in Portugal.
• Transfer of capital equal to or greater than €500,000 intended for the incorporation of a commercial company with a registered office in Portugal, combined with the creation of five permanent jobs, or for the strengthening of the share capital of an existing commercial company, with the creation of five permanent jobs or retaining at least 10 jobs, for a period of at least three years.

1. Direct ratification. In this case, the law will enter into force on the day following its publication in the government newspaper.
2. The President may not accept the bill in its current form and send it to Parliament for revision.
3. The President may refrain from evaluating the document and request the opinion of the Constitutional Court.

Immigration professionals note that even if the bill is directly ratified, the amendments will not enter into force until mid-September. In the case of the other two scenarios, the terms increase exponentially. It is important. All applications for golden visas submitted before the entry into force of the law will be processed under the old requirements and rules.