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Upcoming changes for Portugal Golden Visa

The Portuguese government introduces new requirements for investors who want to get citizenship by investing in the country’s economy. The changes mainly apply to investments in real estate since this investment option is the most popular among foreigners who want to obtain permanent residence in Portugal.

The main problem here is that most immigrants prefer to purchase flats, villas and bungalows in the already developed regions such as Lisbon, Porto, Algarve, or in popular sea resorts, while other regions remain underpopulated and underdeveloped.

To change this, the government sets to tighten the requirements. Starting from 1 January 2022, Golden Visas will not be granted for the purchase of a residential property in the above regions. However, foreign investors will still be able to purchase a commercial property there in order to obtain permanent residence. The government does not want to restrict business in any way at the moment.

You will still be able to get permanent residence by purchasinga residential property in such regions as the Douro Valley, Aljezur, Peneda-Geres, the Azores and Madeira.

Investment amounts

There are several investment options for purchasing a residential property, and they differ in the property value. But the one thing they have in common is that all of them must be located only in those regions that the government plans to develop.

  • Purchase of a newly built property for at least €500,000. Buying new or almost newreal estate has no further requirements.
  • Purchase of real estate constructed more than 30 years ago for at least €350,000. If you buy a flat in an old house, you will be able to save money. But you will have to refurbish it later on.
  • Purchase of real estate in underpopulated regions for at least €280,000. If you are ready in invest in a small town or a village, the government can grant permanent residence for a smaller investment.

Investment requirements for Lisbon and other popular cities have not been changed yet. But to benefit from them, investors have to submit all the necessary documents by the end of 2021 till new requirements come into force.

Our advisors will provide you with all the necessary information about the program, help you to choose the suitable investment option and submit your application in time.

New requirements for other investment options

New requirements are introduced not only for real estate investments, but also for other investment options under the Golden Visa scheme.

Starting from January 2022, minimum investment in shares and bonds increases from €1,000,000 to €1,500,000. The below options will see the increase in their minimum investment from €350,000 to €500,000:

  • Investment in research activities.
  • Acquisition of units of investment and capital venture funds.
  • Acquisition of shares in companies that have headquarters in Portugal. As a result, at least 5 jobs must be created.

For the Golden Visa applications submitted before 1 January 2022, old requirements will be valid.

There is one more change – Golden Visa applications can now be submitted digitally. All documents must be provided electronically and this will also be how investors will receive their NIF tax number. This will allow to avoid bureaucracy and optimise the application process.

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