[ESTABLISHING A BUSINESS ENTITY IN PORTUGAL] 386
reunification, as provided for in article 98 of Law no. 23/2007, of 4 July, in its current wording, when the residence permit for investment was granted under the legal regime applicable until 1 January 2022. Holders of a residence permit for investment activity have the right to family reunification, access to permanent residence permit, as well as the Portuguese nationality, in accordance with the legislation in force, while being able to move freely within the Schengen Area. It is also granted the right to benefit from certain public services, such as medical care and public education. In fact, foreign citizens and stateless persons who decide to engage in an investment activity, personally or through a company, which lead, as a rule, in the completion of at least one of the following situations in the domestic territory and for a minimum period of five years, may benefit from such visa: 1) Creation of at least 10 jobs; 2) Capital transfers in an amount equal to or higher than 500.000 EUR, which are invested in research activities developed by public or private scientific research institutions, integrated in the national scientific and technological system; 3) Capital transfers equal to or greater than 250.000 EUR, which are invested in investment or support of artistic production, recovery or maintenance of national cultural heritage; 4) Capital transfers in the amount equal to or greater than 500.000 EUR, aimed at the acquisition of investment units in investment funds or venture capital funds dedicated to the capitalization of companies, which are incorporated under the Portuguese legislation, whose maturity, at the time of the investment, is
at least five years and at least 60 percent of the value of the investments is made in commercial companies based in Portugal; 5) Capital transfers in the amount of 500.000 EUR or more, intended for the acquisition of shares in non-real estate collective investment undertakings, 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 made in commercial companies based in Portugal; 6) Capital transfers in the amount of 500.000 EUR or more, intended for the incorporation of a commercial company with its registered office in Portugal, combined with the creation of five permanent jobs, or to increase the share capital of a commercial company with its registered office in Portugal, already incorporated, with the creation of at least five permanent jobs or the maintenance of at least ten jobs, with a minimum of five permanent jobs, and for a minimum period of three years. This situation also covers holders of capital stock in a company based in Portugal or in another EU Member State with a permanent establishment in Portugal, provided their contributory situation is regularized. Finally, it should be mentioned that the minimum amount or quantitative requirement for several investment activities mentioned above may be decreased by 20% when the activities are carried out in low- density territories, as defined in Portuguese legislation. *** The information contained in this “Guide” is provided for informational purposes only and should not, under any circumstances, be understood as legal advice on any subject matter. Recipients of this document, clients or otherwise, should not act or refrain from acting on the basis of any content included in the document without seeking the appropriate
ILN Corporate Group – Establishing a Business Entity Series
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