Portugal Golden Visa Specialists

The Portugal Golden Visa is Changing⌛

Is the Portugal Golden Visa Still Open for Investors?

Portugal Golden Visa real estate vs funds

Is the Portugal Golden Visa still open for investors? In this blog post, we will provide an overview of the program, discuss recent changes, and explore the current status of the program to help answer this question.

If you’re a foreign investor looking for opportunities to expand your portfolio and gain residency in Europe, you may have heard of the Portugal Golden Visa Program. 

This program has been a popular choice for investors since its launch in 2012, offering a path to residency in Portugal through various investment options. However, recent program announcements have left some investors wondering if it is still open for new applications.

The Portugal Golden Visa Program is a residency-by-investment program that allows foreign investors to gain residency in Portugal by making a qualifying investment in the country.

The program was launched in 2012 with the aim of attracting foreign investment and boosting the Portuguese economy. 

It has been popular among investors for its flexibility and benefits, which include the ability to travel freely within the Schengen area, access to education and healthcare, and a clear path to Portuguese citizenship.

To be eligible for the Portugal Golden Visa Program, investors must meet certain criteria, such as qualifying, maintaining the investment for a specified period, and passing a background check. 

The program offers several investment options, including real estate and funds as the most sought-after. Each option has its own minimum investment amount and requirements.

Eligibility Criteria: To be eligible for the Portugal Golden Visa Program, investors must meet certain criteria, including:

  • Making a qualifying investment in Portugal
  • Maintaining the investment for a specified period (usually 5 years)
  • Passing a background check
  • Having a valid passport
  • Having no criminal record
Affordable Property for Sale in Portugal

Recent Changes to the Portugal Golden Visa Program

The Portuguese Parliament announced at the beginning of 2023 the program would be suspended at some point this year, leaving many investors wondering what their next move should be. 

Considering the Parliament’s Agenda, the Golden Visa’s discussion will not start before May 10th and might conclude in the best-case scenario within 45 days. The deadline has not yet been announced but the implementation of the amendments will take place.

On 14 April, following the various announcements and public discussion of the future of the Golden Visa regime, the final proposal of the Government was revealed, which will now be subject to discussion in Parliament.

Put simply, the final proposal states the following:

  • The new law will not apply retroactively to people who have already been granted a Golden Visa.
  • The stay requirement rule of 7-day-per-year will remain in place.
  • People who have applied for a Golden Visa but have not yet received it are protected.
  • The renewed visas will have the same flexibility as the ARI, even though they will be reframed under the D2 Visa.
  • The law will go into effect when published in the official journal.
  • Considering the various stages of the legislative process, we expected that this approval process would take at least 45 days, assuming everything progresses smoothly.

In conclusion, the Portugal Golden Visa Program remains a strong option for foreign investors seeking to gain residency in Portugal.

While the suspension announcement of the golden visa program has caused some uncertainty, there’s still a chance to get on board.

If you are considering the Portugal Golden Visa Program and have any questions or concerns, it is always a good idea to seek advice from professionals. 

The team at Golden Port Visa are expert in this area and can provide valuable insight and guidance. Send us an email at info@goldeportvisa.com and receive advice on the best investment options for your goals. 

Our experienced team can help you navigate the application process and ensure that you make the most of this unique opportunity.

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