At the end ofthe Council of Ministers, the Minister of State and Presidency, Mariana Vieria da Silva announced the approval of the decree-law that changed the legal regime for residence permits for investment in golden visas, as provided for in a legislative authorisation of the State Budget for 2020.

The diplomaaims to “guarantee the promotion of foreign investment in low-density regions, namely in urban requalification, in cultural heritage, in activities of high environmental or social value, in productive investment and in job creation”, she stressed.

“What is at issue here is precisely what the Assembly of the Republic had approved, that is, the decision that these investments are aimed at inter-municipal communities in the interior and the autonomous regions, ceasing to apply to coastal regions and metropolitan areas”, explained Maria Vieira da Silva.

The minister added that“the possibility of renewing residence permits already granted” is safeguarded.

Mariana Vieira da Silvaalso underlined that “the context in which that legislation had been approved is different from the current one”, with a transitional period foreseen during the year 2021 and 2022.

In the transitional period, the minister continued “the value of the planned investments is successively increased and their possibility of application to the metropolitan areas is reduced”, coming into force on 1 July 2020.