At the opening of the 2017 Web Summit in Lisbon, the Minister of the Economy, Manuel Caldeira Cabral, announced plans to create a residence visa for young entrepreneurs. The initiative aims to attract investment, talent and innovation to Portugal. As of January 2018, third country entrepreneurs who want to open a company will have quick access to a residence visa, allowing them to create or move their enterprise to Portugal.
The government has modified the criteria for granting ‘Golden Visas’, reducing the required outlay to €350,000 from €500,000 to be invested in small and medium-sized companies in order to obtain a permanent residence permit for non-EU nationals. This sum is less than that of real estate which, until now, have accounted for almost 99% of Golden Visa investments.
Property Companies wishing to engage directly or indirectly in Local Lodging in Portugal have a number of different options. Given the fact that most originally registered to buy their property on a one-off basis, they are normally seen as non-trading corporate entities (non-resident without permanent establishment) and must make changes in status in order to engage in a Local Lodging business activity.
Property purchased a decade or two ago is often liable to a substantial Capital Gains Tax at today’s market prices. There are numerous reasons for this trend. First and foremost is the obvious fact that property prices have risen far ahead of inflation over the years. In addition Continue reading