Your Guide to Portugal Golden Visa
On February 16th, 2023 the Portuguese government announced a series of measures aimed at addressing the country’s housing problem.
The Portuguese Prime Minister stated that the measures include changes to the Golden Visa program, as part of the said effort.
On July 19th, 2023, the Portuguese Parliament approved the final version of the Golden Visa legislation. It now awaits the President’s approval to pass as a law. On February, 2024, the President of Portugal approved the latest Citizenship Law in Portugal.
You can check our article and learn about the latest changes in Portugal Golden Visa Program.
This article includes information about the long-awaited Portugal Golden Visa changes that came into effect on the 1st of January 2022, October 2023, and February 2024.
Key Takeaways
- Required Golden Visa minimum investment amounts increased:
- Investment Fund option increased from €350,000 to €500,000
- Portugal Golden Visa through Real Estate face investment update:
- Real estate investments are no longer eligible for Portugal Golden Visa applications. However, there are various fund investment options.
This is it in a nutshell. For further details, check out the rest of the article.
What You Will Find in This Article
Golden Visa Portugal Suspended Changes Came Into Effect 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 new rules came into effect in 1st January 2022.
Previous Portugal Golden Visa Changes
Real Estate Changes After the Changes to Portugal Golden Visa (2022 Changes)
The changes limit the locations where you can invest in a property for a Golden Visa. The minimum investment amounts remain the same, while there are geographical restrictions on the qualifying areas.
You are no longer able to get residential property in major cities such as Lisbon or Porto or in coastal towns of the mainland.
Only property investments inland and possibly rural or low-density areas are eligible.
Here is a document that lists all the eligible areas (pages 2-4). Also, see the map below for eligible areas.
Capital Transfer Changes (2022 Changes)
The minimum investment amounts were increased, both for monetary and for the number of jobs.
- Capital transfer amount increased from €1 million to €1,5 million
- Investment Fund minimum subscription amount increased from €350,000 to €500,000
- The research and Development amount increased from €350,000 to €500,000
- Job and Company Creation: minimum incorporation amount increased from €350,000 to €500,000; the number of jobs remains at 5
When Did Portugal Golden Visa New Rules Come into Effect
The changes came into effect as of January 1st, 2022.
| 2021 Minimum Amount Required | As of 2022 Minimum Amount Required |
|
| Capital Transfer | €1 million | €1,5 million |
| Investment Funds | €350,000 | €500,000 |
| Real Estate | €500,000 / €350,000 (urban renovation) | Amounts remain the same; geographical restrictions will apply. Residential properties in Lisbon, Porto, or along the coast won’t qualify |
| Job Creation | €350,000 incorporation amount | €500,000 incorporation amount |
| Science and Research Activities | €350,000 | €500,000 |
What Should Investors Expect From Portugal Golden Visa Changes 2022?
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 Did Not Change?
The below investment options did 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 submitted a Golden Visa application before December 31st, 2021.
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Frequently Asked Questions on Portugal Golden Visa Changes
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 or 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 acquisitions be affected by the changes?
Yes. Any type of real estate investment cannot qualify for a Golden Visa.
When did the changes take place?
The initial changes came into effect on January 1, 2022.
How Can Get Golden Visa Help
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.