- Investment schemes
The law defines three investment regimes:
- Simplified Regime – corresponding to investment in an amount ranging from 50,000 Euros (Fifty Thousand Euros) to 249,999. 000 (Two Hundred and Forty Nine Thousand Nine Hundred and Ninety Nine Euros);
- General Regime - Investments in the amount of between 250,000 Euros (Two Hundred Fifty Thousand Euros) and 4,999,999 (Four Million Nine Hundred and Ninety-Nine thousand Nine hundred and Ninety-Nine) fall under this regime. Euros);
- Special regime - corresponding to investments whose global amount is equal to or greater than 5,000,000 (Five Million Euros).
- Application process and processing of investment proposals.
Documents required when submitting an application
Private investment proposals must be presented in triplicate at the secretariat of the Trade and Investment Promotion Agency (APCI) containing the following elements:
- Model Form, duly completed
- Project technical sheet;
- Generic description of the project, including an indication of the economic activity and direct jobs to be created.
- Environmental impact study for projects likely to cause environmental damage, in accordance with current law on the matter
- Investment and financing plans
- Plan for importing goods allocated to the project
- Document that proves the legitimacy of the promoter regarding the use of the property where the project in question is proposed to be developed
- Any other studies directly linked to the implementation of the project
- Certified copy of the applicant investor’s Identity Card, Passport or Residence Card
- Commercial registration certificate
- In the case of projects to be carried out through the establishment of a foreign representation, a copy of the Commercial Representation License issued by the competent entity in the country must also be presented, in accordance with article no. 7 of the Investment Code Regulation
- Proof of payment of the process processing fee to be paid to APCI, in the amount of 500 euros.
- Proposal processing process
- After receiving the proposals, APCI, electronically, simultaneously sends complete copies of them to the State institutions involved in the assessment process;
- The institutions mentioned above must, within 5 (five) working days, counting from the date of receipt of the project electronically, submit to APCI the opinion on matters within their competence;
- After receiving the opinions, APCI must, within 48 (forty-eight) hours, submit the duly instructed process for consideration and dispatch by the Minister responsible for Planning;
- During the procedures and depending on the nature of the project, if APCI requests additional information from the entity promoting the investment, this information must be made available to the Agency within a maximum period of 15 days.
- Investment projects eligible to enjoy the guarantees and incentives provided for in the Investment Code must obtain express or tacit authorization from government authorities, after a period of 45 days, through the execution of an Administrative Investment Contract between the parties.
- Post approval of projects
- Projects approved by the Minister are submitted to the competent State Heritage services so that contractual terms can be negotiated and drawn up with the project promoter. After this process, administrative contracts and any concession contracts are signed.
- APCI must communicate this authorization to the promoting entity and within 3 (three) days, issue the Certificate of Investment Registration (CRIP), which gives its holder the right to invest under the terms mentioned therein.
- Execution and monitoring of projects
- The CRIP holder must meet the deadline of 120 days to begin implementing the approved project, which will be monitored by APCI.
- When duly substantiated, the investor may request an extension of the implementation period for a single time, up to six months, to the Minister responsible for the Planning sector, upon request.
- Failure to carry out authorized operations within the established period, or its extension, automatically determines the expiration of the authorization.