To stop the flight of investments due to the excessive delay in granting the Gold Visas, the Foreigners and Borders Service (SEF) has created a line to accelerate the processes.
The “blue line” will thus give faster responses to foreign investors who maintain interest in Portugal. Applications for the issuance or renewal of residence permits for investment (ARI) will also be treated as priority processes by the end of this year.
According to Diário de Notícias, the SEF confirmed that “by the end of the year, it is expected to increase the creation of specialized services for several areas”, among which ARI. The idea is to create an express service to ensure that no investment is lost.
This is a measure to halt the fall in foreign investment in Portugal, which fell by 5% in April in year-on-year terms in Gold Visas and also 5% in ARI.
The Government had also recently extended the criteria for the granting of ‘gold’ visas.
This will be the third change to the ‘gold’ visa program, creating new investment opportunities and lowering the capitalization amounts to give priority to investments in Small and Medium Enterprises (SMEs).
In the context of legislative changes, the Council of Ministers provides for the granting of residence permits for foreigners investing 350,000 euros in the creation of Portuguese companies or strengthening of the capital stock of national companies, provided that five permanent jobs are created or maintained.
(Notícia de Diário Imobiliário)