Changes to Portuguese Golden Visa Program
Decree-Law 14/2021 published today, 12th February, announces that the changes to the law on residency by investment will no longer be enacted in July 2021 but instead on 1st January 2022. This is good and encouraging news for all those potential investors that still wish to invest in Lisbon and Oporto. All requirements in force up to date will continue until the end of 2021.
In short / By way of summary the changes target mainly the residential sector. As of January 2022 only investment in property in inland regions and the island of Madeira and the Azores will be eligible for the Golden Visa programme. Note that investment in property for tourism and commercial purposes remains possible in Lisbon and Oporto. The minimum amount of investment in funds will be of € 500k opposed to € 350k. All those interested in this route can still profit from the reduced amount and submit the application before the end of this year. As of January 2022 investors opting for the business incorporation route will face a minimum investment of € 500k and must create a minimum of five new full time jobs for at least three years.
For all those whose applications that have been submitted or those who are already benefitting from temporary residence acquired via the investment route, rules will remain unchanged and their residencies will be renewed based on the standards required when they initiated the application.
For more information about the Portuguese Golden Visa you can download our brochure here, or contact our Immigration team at [email protected].