Is Portugal Golden Visa Really Ending? The Portugal Golden Visa program has been popular among foreign investors and retirees looking to relocate to Portugal.
It provides a fast track to residency and citizenship in Portugal through real estate, funds or business investments.
However, recent reports have suggested that the Golden Visa program will be coming to an end soon.
This news has left many potential investors wondering what the future holds for the program and whether they should still consider it as an option for relocation.
In this article, we will discuss the current state of Portugal’s Golden Visa program.
What is Portugal’s Golden Visa Program?
Portugal’s Golden Visa program was introduced in 2012 to attract foreign investment. It offers residency and citizenship in exchange for real estate or business investments.
The program has been a huge success, with thousands worldwide taking advantage of the opportunity.
Is Portugal’s Golden Visa Program Ending?
Recent reports have suggested that Portugal’s Golden Visa program will be coming to an end soon.
The government has announced that it will stop issuing new visas through the program from March 17th, 2023.
This decision comes after concerns were raised about the impact of the program on the country’s real estate market and the number of investors taking advantage of the program.
The Portuguese Parliament will share more information about the program’s future on March 16.
What is the Portugal Golden Visa Application Process?
The Portugal Golden Visa application process is relatively straightforward.
You must invest in real estate or business and meet specific requirements, such as having a clean criminal record and being able to support yourself and your family.
The application process usually takes around ten months, and successful applicants are granted residency in Portugal for two years, which can be renewed.
To apply for the Portugal Golden Visa program, investors need to hire an immigration consultant that helps them navigate the bureaucracy, open a Portuguese bank account, and provide proof of their investment.
The lawyer will help you navigate the application process and ensure all requirements are met.
Portugal golden visa timeline
Application starts here
Get a NIF number,open a bank account € make your investment
Get your golden visa
You and your family get a two years valid care after submitting your fingerprints
Renew your residence permit
In these two years,you must have spent 14 days in portugal to renew your card
2nd renew or residence permit
With each renewal your residence permit will be extended for anothwer 2 years
Apply for citizenship
At the end of the fifth year,you can apply for Portuguese citizenship or permanent residency
Portugal’s Golden Visa program has been popular among foreign investors and retirees looking to relocate to Portugal.
The program has provided a fast track to residency and citizenship in Portugal through real estate or business investments.
While the program will come to an end in March 2023, there is still time to take advantage of it before then.
We invite you to learn more about the Portugal Golden Visa 2023 new changes.
FAQs - Portugal Golden Visa Ending
Is the Portugal Golden Visa still available?
Although the Portugal Golden Visa program is ending, there is still time to apply for it. However, it is crucial to start the process now because time is of the essence.
Applications submitted before the new legislation takes effect will be exempt from any subsequent changes to the program.
Is the Portugal Golden Visa ending?
Yes, the Portuguese Government announced on February 16, 2023, that the Portugal Golden Visa program is ending.
Can you still get a golden visa in Portugal?
Yes, you can still apply for the Portugal Golden Visa program until March 16th, 2023; further details will be available after that date.
What are the Portugal Golden Visa changes in 2022?
The Portugal Golden Visa program changes in 2022 pertain to real estate and capital transfer investment options.
Since January 2022, applicants have been unable to purchase residential property in Lisbon, Porto, and much of the Algarve, as well as in coastal areas such as Setúbal and the Silver Coast.
Capital transfer requirements have increased from €1 million to €1.5 million, and the requirements for the investment fund route, research option, and investment in an existing Portugal-registered business have increased from €350,000 to €500,000.
What do the Portugal Golden Visa new rules mean for my investment options?
It is still being determined if there will be an alternative investment program to replace the Portugal Golden Visa program. More information will be available after the announcement on March 16th.