On the 11^th January 2019 the Draft Law number 1055/XIII/4ª was approved by the Plenary Meeting, meant to expand the program “Golden Visa”.

The project aims to introduce a new form of investment, based on green projects, the so-called “Green Visa”.

The “Green Visa” will allow the access to residence permits based on any activity carried out by an individual or through a company, in national territory, for a minimum period of 5 years with an investment in the amount equal or higher than 500 thousand euros that accomplishes, in principle, at least one of the following conditions:

• Development and promotion of non-intensive organic farming;
• Reinforcement and contribution for the implementation of the “Roadmap to Neutrality of the Carbon Footprint”, which is based on the urgent need of deep decarburization of the Portuguese economy;
• Creation of investments focused on self-consumption based on energies from renewable resources, for projects with high standards of energy efficiency, while being mandatory that the consumption derives from in 75% of renewable energy resources;
• Promotion and development of the ecotourism.

This new category would allow citizens from countries outside the European Union to obtain a residence permit in Portugal by investing in “green” projects and therefore, attracting ecological and sustainable investments focused in decarbonizing the Portuguese economy. This commitment was assumed internationally.

The Portuguese Parliament has submitted the Draft Law to the appreciation to the competent committee.