This article is the ultimate source regarding Portugal Golden Visa changes in 2021. We keep you informed of all the latest updates and new rules concerning the Portugal Golden Visa to ensure you’ve got all the relevant information.
Portugal Golden Visa suspended rules are going ahead in July 2021
The government’s Portugal Golden Visa new rules which initially had been suspended due to the COVID-19 pandemic in 2020, are now scheduled to go ahead. Indeed, the legislative amendments to Portugal’s Golden Visa program will come into effect in July 2021, blocking investors from buying properties in high-density areas like Lisbon, Porto, and the Algarve, as well as in coastal areas like Setubal and the Silver Coast.
The Portugal Golden Visa changes are designed to drive investment in Portugal’s low-density areas, relieving pressure from metropolitan locations and encouraging foreign investment into other areas of the country.
Property sector expected to be affected by Portugal Golden Visa new rules
There was hope that the Portugal Golden Visa suspended changes would not go ahead as professionals from the property sector have expressed concerns that the changes could harm the property market. However, the Golden Visa new rules will help boost low-density areas and balance out the property market.
Fantastic Portugal Golden Visa low-density areas with high growth potential such as the Douro Valley, Aljezur and Peneda Gerês provide for excellent property locations for investors and their families. For only €280K, individuals can invest in low-density areas renovation projects and become eligible for the Portugal Golden Visa Program.
Will the Portugal Golden Visa changes impact existing investment in Porto and Lisbon?
If you are in the process of purchasing a property in a high-density area you will not be impacted by the Portugal Golden Visa updates. However, if you are interested in purchasing a property in Lisbon, Porto or the Algarve, now is the time to do so as changes will come into effect on the 1st of July 2021.
Other Golden Visa investment routes will not be impacted by the visa updates and remain available. If you are not particularly interested in investing in real estate, the Portugal investment fund golden visa is a very attractive investment route. For a minimum investment of €350,000, you can become a Portuguese resident.
Portugal digitalizes Golden Visa applications
The Portuguese government has also announced that Golden Visa applications will now be digitalized. All documents are to be submitted digitally, including the issuance of the Portuguese Individual Tax Number. The change will help reduce bureaucracy and create a faster application process.
Portugal Golden Visa brief history
Launched in 2012, the Portugal Golden Visa program is one of the most popular residency by investment schemes in Europe. The scheme allows investors and their families to obtain residency permits in exchange for a qualifying investment. Since its launch, the Portugal Golden Visa has been a true success with 9,389 investors and 16050 family members benefiting from the program.
Portugal Golden Visa statistics show that as of 2018, Portugal is positioned 6th in the world in terms of top residency-by-investment programs — second only to Spain and Quebec. The reasons for the program’s success are multiple. Portugal ranks first as the best country in Europe for expats due to its great quality of life, excellent weather and freedom.
In addition, the program offers several attractive investment routes suiting various investment goals — such as purchasing real estate, investing in venture capital, research, or an existing business.
For more information on Portugal’s golden visa scheme, visit our Golden Visa Portugal 2021 Ultimate Guide.
What can Global Citizen Solutions do for you regarding Portugal Golden Visa changes?
As professionals dedicated to assisting you in acquiring the Portugal Golden Visa, Golden Citizen Solutions will continue to closely monitor Portugal Golden Visa changes as they unfold and keep you updated on the matter.
In the meantime, you can always stay updated about Portugal’s immigration latest updates by visiting the Portugal Immigration Agency’s website (SEF).
With a 100% success rate when it comes to Golden Visa applications, we can ensure that you find the right investment for your requirements.