Significant investment in environmental projects will, from now on, be another opportunity for foreign nationals to gain access to Portugal and the European Union. For example, investments in organic agriculture, renewable energy, ecotourism and a wide range of environmental projects.
The Golden visa law is to be amended to a system of residence authorisation based on investment in green projects (Green visas) such as any activity carried out in person or, as a rule, through at least one of the following in national territory, and for a minimum period of five years, for an amount equal to or more than 500K€, e.g.:
i) Organic Farming: promotion and development of investments in non-intensive organic farming;
ii)Carbon Neutrality: reinforcement and active contribution to the implementation of the Roadmap to Carbon Neutrality;
iii)Renewable Energy: creation of investments that focus on self-consumption of energies derived from renewable sources that are governed by Decree-Law 153/2014, by Ordinance No. 14/2015 and Ordinance No. 15/2015;
iv)Energy and Renewable projects: development of projects with manifest and high standards of energy efficiency with a mandatory consumption of more than 75% of energy from 100% renewable sources
v)Ecotourism: promotion and development of projects and investments in ecotourism.
Residence permit for investment activity in ecological projects
1 – A residence permit shall be granted for the purpose of carrying out an activity for investment in green projects, to third-country nationals who, cumulatively:
(a) meet the general requirements set out in Article 77, with the exception of (a) paragraph 1;
(b) are holders of valid Schengen visas;
(c) settle residence in Portugal within a period of 90 days from the date of first entry into national territory;
(d) meet the requirements laid down in Article 3 (vv).
2 – The residence permit shall be renewed for periods of two years, in accordance with this law, provided that the applicant proves to maintain any of the requirements of Article 3 (v).