Portugal recently announced many changes to its Golden Visa, reducing the minimum investment to 280 thousand Euros in real estate and enhancing the capital transfer to 1.5 Million Euros. To qualify for Portugal, Golden Visa Investors can buy residential and commercial property in interior areas of Portugal or low-density areas. Portugal Golden Visa Changes 2023 promote economic boost in low-density areas.
Golden Visa Portugal came into existence to boost Portuguese economy in the form of foreign investment. The path breaking program allows citizens of non-European Union to be eligible for a residency permit and eventually a Portuguese passport through investments. With a Golden Visa, the holder can live in Portugal and travel freely in Schengen zone. To be eligible, an applicant needs to make investment, hold it for five years, and stay in Portugal for just 7 days per year.
The program has been successful and has become one of the most famous residency by investment programs in Europe and the world. The Portugal Golden Residence Permit Programme started in October 2012. and since then, more than 11,500 applicants have received their Golden Visas till December 2022 for pursuing investment activities. Eighteen thousand eight hundred nine residential permits have been issued to dependent family members enjoying Golden Visa family perks.
These applications directed over EUR 6 billion of global funds into Portugal. Property purchase worth EUR 500,000 is the popular investment option to acquire Portugal’s residency. Golden visa requirements are flexible and beneficial, and the country has attracted more investment in top cities like Lisbon and Porto.
Portugal Golden Visa New Rules
The Portuguese government has made many changes to the Golden Visa program since 2020 to encourage investment in interior areas, urban renovation, job creation, and cultural heritage. Portugal Golden Visa new rules include:
- The required investment amounts in the investment fund option increased from EUR 350,000 to EUR 500,000.
- The capital transfer option increased from EUR 1 million to EUR 1,5 million.
- Investors should make real estate investments in low-density areas within Portugal. The properties must be located in the Autonomous Regions of the Azores and Madeira or the interior territories.
The changes have been made to stimulate investment in the interior parts of Portugal. Buying real estate property in Lisbon or Porto will not qualify for the Golden Visa program. However, there are still attractive destinations among Portugal’s interior municipalities, such as part of the Algarve region in the south or Braga and Guimaraes in the north.
Golden Visa Portugal latest news
Portugal’s Borders and Immigration Service portal (SEF) has now fully resumed acceptance of new Golden Visa applications. SEF had suspended operations for a while post-pandemic and some security measures. The biometric appointments have also opened from January to March 2023.
The Portuguese government has digitalised Golden Visa applications to fasten the process. All documents must be submitted digitally, including the Portuguese individual tax number (NIF) issuance.
While the Golden Visa program in Portugal is a residency by investment scheme, securing Portuguese citizenship and permanent residence is possible after holding an investment for five years.
DM Citizenship by Investment consultants and legal experts remain up-to-date with the latest changes in the Portugal Golden Visa and have the expertise and knowledge to keep you updated about the Golden Visa Portugal latest news and changes and help you in investing and securing Portugal Golden Visa.