Decree-Law no. 14/2021 of February 12 was published in the Official Gazette, amending the legal regime for the entry, stay, exit and removal of foreigners from national territory. This amendment limits the granting of Residence Permits for Investment (ARI), better known as ‘Golden Visas’, in the metropolitan areas of Lisbon and Porto and in the territories of the coastal Intermunicipal Communities (CIM's), which are excluded from the scope of the regime in the case of investments in residential real estate. Investments in real estate for tourism, commerce and services appear to be excluded.
The acquisition of real estate, with a value of €500,000 or more, and the acquisition and carrying out of urban rehabilitation works, with a total value of €350,000 or more, which are intended for housing, continue to allow access to this scheme, but only when they are located in the Autonomous Regions of the Azores and Madeira or in inland territories, identified in the annex to Ordinance no. 208/2017, of July 13.
With this change there is also an increase in the amounts that involve ‘investment activity’. Thus, the following amounts will now be considered: transfer of capital in the amount of €1.5 million or more; transfer of capital in the amount of €500,000 or more, which is applied in research activities carried out by public or private scientific research institutions, integrated in the national scientific and technological system; transfer of capital in the amount of €500,000 or more, intended for the acquisition of units in investment funds; transfer of capital in the amount of €500,000 or more, intended for the incorporation of a commercial company with headquarters in national territory.
The new regime comes into force on January 1, 2022 and is applicable to all applications for Residence Permits for Investment (ARI) requested after its entry into force. It is clear that the new regime “does not affect the possibility of renewing residence permits”, nor “the possibility of granting or renewing residence permits for family reunification”, when the ARI has been granted under the legal regime applicable until the date of entry into force of the new regime.
Source: vidaimobiliaria