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Europe’s most popular Golden Visa program, which has raised some €3.3 billion of FDI (€2.9bn of which in real estate investment) since its beginning in 2013, has launched a capital transfer option that will allow applicants to obtain a “Residence Permit for Investment Activity” (ARI) in exchange for a €350,000 investment in new or existing companies, or in investment funds, reports Fonseca Santos & Associates.

In a bid to diversify foreign investment in the country, which, under the Golden Visa program, has come overwhelmingly in the form of property investment, Portuguese lawmakers have introduced amendments they believe will help spur investment in both new and existing private sector companies.

According to Law 102/2017, which came into effect on November 26th, third-country nationals can qualify for Portugal’s Golden Visa under two separate capital transfer options:

  • The transfer of capital amounting to (euro) 350,000 or more, for the acquisition of units of investment funds or venture capital funds for the capitalization of companies, which are set up under Portuguese law, whose maturity at the time of the investment is at least five years and at least 60% of the value of the investments is carried out in commercial companies based in the national territory;
  • the transfer of capital amounting to € 350,000 or more, for the purpose of setting up a commercial company with its head office in Portugal, together with the creation of five permanent posts or to increase the share capital of a company with headquarters in the national territory, already established, with the creation or maintenance of jobs, with a minimum of five permanent, and for a minimum period of three years.


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