Invest in a Company to acquire Portugal GV, question related renovation

Hi, everyone, for this GV category: Foreign entrepreneurs and investors can establish or invest in an existing Portuguese business. This investment may involve creating new jobs. There are two investment options in this category: Incorporate a company in Portugal, with a share capital of ā‚¬500,000 plus creating five permanent jobs.

I heard that it is possible to temporarily withdraw the invested funds after receiving the first residence card, and reinvest to the company when renewing the second card, is this true? IĀ“ll appreciate if anyone can provide some information regarding this. Thanks a lot!

I donā€™t think thatā€™s allowed. For renewal, the Regulations (Art 65-E of Dec Reg 84/2007) says that ā€œThe demonstration of the maintenance of the investment provided for in subparagraph viii) of paragraph d) of no. 1 of article 3 of Law no. 23/2007, of 4 July, in its current wording, is made through the access to information on commercial registration that attests to the maintenance of the incorporated company or the ownership of the acquired shareholding, AIMA, I. P., ex officio verifying the maintenance of the minimum number of jobs required.ā€

So to renew, you have to have maintained ownership of a company fulfilling the requirements. I donā€™t see how you get to disinvest and reinvest and meet the tests.

Hi, Chris, thanks a lot for your information!!!