The portuguese government has recently introduced legislation facilitating the issue of a Five Year Temporary Residence Permit for non EU Citizens (Oct. 2012). To take advantage of this opportunity, the contending resident must invest in Portugal according to certain criteria.
In essence, the Temporary Residence Permit is automatically issued when the candidate invests in one of the following ways:
- Purchase of a property above €500,000.
- Transfer of funds of an amount above €1,000,000.
- Launching of a company that creates a minimum of 10 job positions.
General requirement - Investments maintained for a minimum of 5 years.