News

Last day June 30th 2015, the Law No. 63/2015 was published, which amended the Law No. 23/2007, of 4th July, which approved the Legal Regime for entry, stay, exit and estrangement of foreigners from the national territory.

The new law introduced significant changes, essentially in the concession scheme of Residence Permit for Investment (ARI - Golden Visa) as follows:

• the possibility of obtaining a visa through acquisition and rehabilitation of buildings, with at least 30 years or located in areas of urban regeneration, in the overall amount equal or greater than € 350,000;
• capital transfers equal to or greater than € 350,000, applied in research activities undertaken by public or private institutions of scientific research integrated in the scientific and technological national system;
• capital transfers equal to or greater than € 250,000 applied in investment or support to artistic recovery, recovery or maintenance of national cultural heritage;
• capital transfers in the amount equal or greater than € 500,000, aimed at acquiring units in investment funds or venture capital, under certain conditions.

In addition to these important changes, it is forecasted a 20% discount on the minimum amounts required for the investments referred to in the preceding paragraphs (as well as the amount of acquisition of property equal or greater than € 500,000 and also in the investment involving the creation of, at least, 10 jobs), where the activities are carried out in sparsely populated areas (those with less than 100 inhabitants per km2 or a GDP per capita below 75% of the national average).