If you’re interested in making a residency investment in Portugal in 2020, then you need to know what the Portugal Golden Visa new rules are, and how they will affect you.
Changes to the 2020 state budget
After a vote in the Portuguese parliament on February 5, proposed budget changes mean that the ARI (Autorização de Residência para Atividade de Investimento) will now limit eligible investments to areas in the interior of Portugal, and will exclude the big urban centers of Lisbon and Porto. The amendments to article 90.º A of the Law no. 23/2007, of July 4 are still awaiting ratification (until 31 December 2020) which means it will be some time before the Portugal Golden Visa new rules apply.
What do the Golden Visa new rules mean for investors?
If the proposed changes are approved by the Portuguese government, it is likely they will come into effect in the second half of 2020.
Investors who have already obtained Golden Visas with real estate purchases in Lisbon and Porto will not be affected. The Portugal Golden Visa new rules law will not jeopardize the possibility to renew residence permits that have already been granted. Nor will it affect the issuance or renewal of residency permits for family members of investors through the family reunification program where the investor already holds a Golden Visa.
Take a look at our ultimate guide to the Portugal Golden Visa if you want to find out more about the program.
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