I would like to participate in Portugal’s residency-by-investment program by setting up a business in Lisbon. I understand that this investment has to create at least 10 jobs. However, it is not clear to me what kind of jobs are acceptable. Do the employees need to be EU citizens and permanent residents? Do part-time positions count? Can I hire contractors?
There is not a typology of actual jobs accepted or a list done by the law of professionals acceped. The only requirement is that they should be work contracts, not service providers or contractors. Be aware that contracting a worker in Portugal is fairly more expensive than a service provider because of social security and other costs.
Third-country citizens who conduct an investment activity, as an individual businessperson or through a company set up in Portugal or in another EU member-state and who, in addition, are stably settled in Portugal, provided these citizens fulfill the quantitative requirements and the time requirements set out by the relevant legislation, may apply for a resident permit for Investment, by one of the following routes: the creation of at least 10 job positions. Regarding the creation of jobs, these have to be created in Portuguese territory; the nationality of the workers is not relevant. The law does not specify if the jobs must be full-time or part-time jobs. Thus, the main requirement is to create at least 10 job positions. The type of employment contract is a decision of both parties (employer and employee). As per contractors, usually when hired, it is not through a typical employment contract seeing that a contractor provides services, and a service agreement does not fulfil the requirements explained below. Furthermore, the applicant must present supporting evidence in which he has made the investment of the minimum amount required, individually or through a shareholder limited liability company of which the applicant is the shareholder. The following documents must be submitted: declaration of a credit institution authorized or registered in the national territory within Bank of Portugal, attesting the effective transfer of the amount equal to or above the legally required; individual contracts of employment between the employer and the employees and obligation of registering the employees in the social security systems; extract from the register of companies, in the case where the investment is made through a shareholder limited liability company, of which the applicant is the shareholder, as for in no. 13 of Article 65-A of the Regulatory Decree no. 84/07, of 05/11, as amended. For investment by means of the creation of, at least, 10 jobs, this requirement may be reduced in 20% (eight jobs) when in a low-density territory (NUTS III level with less than 100 inhabitants per Km2 or PIB per capita less than 75% of the national average).
For the contract of employment, the workers must be Portuguese citizens of the EU or have a resident permit in Portugal. The work can be part-time and it is necessary to submit the respective employment contracts.
For the Golden Visa application by means of 10-job creation, the law does not define what kind of jobs are eligible, only demanding the submission of the 10 individual contracts of employment between the employer and the employees. This means that the investor/employer shall follow the labor general rules when hiring. As such, our recommendation to have a successful Golden Visa application is to hire 10 employees for full-time work, with labor contracts that can be or are not subject to a term (although having in mind that during the Golden Visa period of five years, the 10 jobs must be kept at all time). It is also possible to hire employees that are non-European citizens and/or non-residents, if the corresponding rules of hiring (namely the respect for the principle of hiring for European citizens or legal residents in Portugal) are followed.
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