The long-awaited details for Portugal Golden Visa changes are officially declared as of February 12th, 2021.
- Required Golden Visa minimum investment amounts will increase:
- Investment Fund option will increase from €350,000 to €500,000
- Capital Transfer option will increase from €1 million to €1.5 million
- Portugal Golden Visa through Real Estate will face restrictions:
- For real estate properties to qualify for Golden Visa, they have to be located in the Autonomous Regions of the Azores and Madeira or in the interior territories, identified below.
- The Changes will be in force as of January 1st, 2022…
This is it in a nutshell. For further details, check out the rest of the article.
What is Going to Change in 2022
The proposal in February 2020 provided the government with the mandate to change the rules. The Portuguese government went ahead and used its right to change the rules in February 2021. The exact details of the changes are now clear.
Two sets of changes are announced.
#1 Where you can invest in a real estate property to qualify for the Golden Visa:
The changes will limit the locations where you can invest in a property for a Golden Visa. The minimum investment amounts will remain the same, while there will be geographical restrictions on the qualifying areas.
You will no longer be able to get a property in major cities such as Lisbon or Porto or in coastal towns of the mainland.
Only the property investments inland and possibly rural or low-density areas will remain eligible.
Here is a document that lists all the eligible areas (pages 2-4).
#2 Minimum investment requirements:
The minimum investment amounts will be increased, both for monetary and for the number of jobs.
- Capital transfer amount will increase from €1 million to €1.5 million
- Investment Fund minimum subscription amount will increase from €350,000 to €500,000
- Research and Development amount will increase from €350,000 to €500,000
- Job and Company Creation: minimum incorporation amount will increase from €350,000 to €500,000; the number of jobs will remain at 5
When Will the Changes Be Effective
The changes will come into effect as of January 1st, 2022.
Until then, the current Portugal Golden Visa rules and requirements will continue. So, throughout 2021, prospective applicants can make use of the existing investment amounts and invest in properties wherever they like within Portugal.
What Should Investors Expect?
The initial response from stakeholders is negative. Yet, the changes are not necessarily good or bad. It appears the revision of the program may boost the alternative investment routes. The interior regions of the country will likely receive more investment.
What Will Not Change?
The below investment options will not change:
- To launch a company in Portugal and employing at least 10 new local employees,
- €250,000 contribution in arts
Will Previous Or Current Applicants Be Affected?
No. The changes will not be retroactive to anyone who submits a Golden Visa application before December 31st, 2021.
So, you can go ahead and apply for the current program in 2021, making use of the current investment requirements.
What Should You Do?
If you intend to:
- Invest in real estate in Lisbon, Porto, or along the coast, or
- Make a fund investment for €350,000
Then, you need to hurry.
You will need to have submitted your Golden Visa application before the December 31st, 2021 deadline. The acquisition and application process takes time. So the earlier you start, the better.
Get Golden Visa is an end-to-end investment advisory agency. We have local offices in Portugal and a licensed real estate team and legal professionals.
We will help you:
- Choose your investment type
- Find your investment property or fund
- Apply for your Golden Visa
Frequently Asked Questions
- Will The Portugal Golden Visa Program Be Canceled?
No, the Portugal Golden Visa Program will not be canceled. The revisions are going to be implemented into the existing scheme. There will not be major structural changes in the proceedings of the program. You can find the details in this official declaration.
- Will The Changes Affect Existing Applications Are Current Golden Visa Holders?
The changes will not work retroactively. The existing applications will be evaluated following the format of the application date. People who already have their Golden Visas will not be affected in any way.
- Will All Types Of Real Estate Acquisition Be Affected By The Changes?
No. The geographical restrictions will only affect residential property purchases. Any other types of real estate property can still be acquired anywhere in Portugal and qualify for a Golden Visa.
- When Are The Changes Going To Take Place?
The changes will come into effect on January 1, 2022. Until the end of 2021, the program and its requirements will continue as is.
Get Golden Visa: Who We Are And How We Can Help You
Get Golden Visa is a full-service investment immigration agency. We provide end-to-end solutions on residence and citizenship by investment programs in numerous countries worldwide.
We have local offices in Lisbon and Porto, Portugal. We have legal professionals, as well as licensed real estate professionals within our team.
We work with clients from all around the world, interested in obtaining Portugal Golden Visas or in making real estate investments in Portugal.
Contact us and talk to one of our experienced team members to help you with any and all your questions.