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Biden signs US-Portugal legislation

Biden signs US-Portugal legislation -
Biden signs US-Portugal legislation - Portugal Business News

President Biden signed the US-Portugal legislation under the National Defense Authorization Act on December 23rd, in order to boost trade and investment.

The Advancing Mutual Interests and Growing Our Success (AMIGOS) Act makes Portuguese nationals eligible for Trade and Investor temporary entry visas. This new Law will also strengthen the economic ties between Portugal and the US.

Although most European countries had pre-existing bilateral investor treaties with the United States before joining the EU, Portugal was not a treaty-county. However, Portugal is an important cultural and business partner of the United States, as bilateral trade with Portugal reached $8.9 billion in 2019, that is a six percent increase compared to the previous year.

According to US Congressman Cicilline, the thriving Portuguese-American community in the US, and especially on Rhode Island, has made rich contributions to the fabric of society in various sectors including arts, culture, business, and public service. Therefore, the Act aims at breaking down barriers that currently limit Portuguese investments in American businesses and will also grow an already strong relationship between the two countries.

The U.S. Citizenship and Immigration Services (USCIS) website states that the E-1 non-immigrant visa allows a national of a country with which the United States has a Trade treaty to obtain a 2-year Business Visa when investing in a U.S. business. Qualified treaty investors and employees may request an extension of stay, which may be granted in increments of up to two years each, while there is no limit to the number of extensions that can be granted.


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