[ESTABLISHING A BUSINESS ENTITY IN PORTUGAL] 407
residence permit, if they reach a certain level of property investments, capital investments and/or job creation. 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 of 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) Capital transfers in the amount equal or superior to 1.5 million EUR; 2) Creation of at least 10 jobs; 3) Acquisition of real estate, in the amount equal or greater than 500.000 EUR; 4) Acquisition of real estate whose construction has been completed for at least 30 years or located in an urban rehabilitation area and carrying out rehabilitation works on the real estate acquired, totaling 350.000 euros or more; 5) 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; 6) 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; 7) 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; 8) Capital transfers in an amount equal to or greater than 500.000 EUR, aimed at the incorporation of a commercial company with registered office in the national territory, in conjunction with the creation of five permanent jobs, or at increasing the share capital of a commercial company with registered office in Portugal, already incorporated, with the creation or maintenance of 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, two mentions should be made: • In the aforementioned cases of acquisition of real estate, the conditions for access to the visa regime are different depending on whether the property is intended for habitation or not; and • The minimum amount or quantitative requirement for several investment activities mentioned above may be decreased by 20% when the activities
ILN Corporate Group – Establishing a Business Entity Series
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