The diploma that regulates this program and decrees the effective changes to those who intend to acquire this visa in Portugal has finally been published.
What it is?
Created in 2012, this program allows a residence visa in Portugal and free access to the Schengen area, for the holder and his / her direct family. It can be obtained through a series of investments in the country, being the most common – and simple – through the purchase of real estate products.
Will it end? What will change?
Golden Visa will undergo changes on its current terms on January 1st, 2022, thus ending the possibility of obtaining a visa through real estate investment in the metropolitan areas of Lisbon and Porto, as well as in the coastal area of the country. The aim of this change is to attract more capital to less developed and inland territories in the country.
The diploma also modifies the legal regime for the entry, stay, exit and removal of foreigners in national territory, and indicates new minimum amounts that involve investment activity – any activity carried out in person or through a company that leads to the completion of the capital transfer and for a minimum period of five years.
The following values will be considered:
• Capital transfer in an amount equal to or greater than 500,000 euros, which is applied to research activities carried out by public or private scientific research institutions, integrated into the national scientific and technological system;
• Capital transfer in an amount equal to or greater than 1.5 million euros;
• Capital transfer in an amount equal to or greater than 500,000 euros, intended for the acquisition of investment units in investment funds or venture capital funds dedicated to the capitalization of companies, which are constituted under Portuguese legislation, whose maturity, in time of investment, be at least five years and at least 60% of the value of the investments is made in commercial companies based in the national territory;
• Capital transfer in an amount equal to or greater than 500,000 euros, intended for the constitution of a commercial company with headquarters in the national territory, combined with the creation of five permanent jobs, or for the reinforcement of the social capital of a commercial company with headquarters in national territory, already constituted, with the creation or maintenance of jobs, with a minimum of five permanent, and for a minimum period of three years;
When will these changes take effect?
The Decree-Law that regulates the program was published on February 12, 2021, thus determining the conditions for changing the Golden Visa program. There will be no transitional period, so 1st January 2022 will effectively be the date when it is no longer possible to obtain this visa through real estate investment in the large metropolitan areas of Portugal.
The Government underlines that these changes do not affect the possibility of renewal or the granting or renewal of visas for family reunification, when the residence permit for investment has been granted under the current law.
Do the benefits change?
No. The benefits associated with those who obtain the Golden Visa program will continue, with the great difference of the regions of the Portuguese territory where it may be requested. Learn more about the programe HERE.
Check out some developments eligible for Golden Visa:
Find all eligible properties at www.portadafrente.pt