Recently, Portuguese Parliament announced a set of new rules related to the Golden Visa Residence program, which was launched earlier in 2012. The announced rules are yet pending before the parliament for the final approval.
The newly announced rules may not affect the original circumstances which were offered to lure investors. Under the new rules of the Visa Residence program, investors can yet, pick any of the following options.
- Investment in real estate with at least investment of €500,000 or
- Depositing cash or financial investment via bonds or stocks with at least worth of €1,000,000
- Through the formation of a new firm with a minimum of 10 employment positions located in Portugal
Besides, these Portuguese has now launched two latest ways through which an investor can qualify for Golden Visa.
Initially, regarding the investment in scientific research or culture, an investment of €350,000 should be made in project within these fields.
After that, an investor can now submit his or her application on the grounds of renovating or rebuilding, purchasing, urban properties. The fiscal costs ensuing from this other option should add up to at least €500,000.
The legislator of Portuguese focused on launching new regulations connecting with real estate. Actually, when eligible individuals plan to invest in real estate, it would be compulsory to give a tax depiction of the property.
Another prominent addition to the Golden Visa regulations is the launch of the external auditor, which would be a crucial player in sustaining transparency and to deal with any currency laundering and corruption matters.