How will the Portugal Golden Visa new rules affect investors in 2020?

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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Frequently asked questions about the Portugal Golden Visa new rules in 2020

How does COVID-19 impact the Portugal Golden Visa?

In light of the COVID-19 pandemic, Portugal is now accepting applications electronically. Furthermore, the Portuguese government remains open for business and applications for the Portugal Golden Visaare operating as normal.

How does COVID-19 impact the Portugal Golden Visa new rules?

The Portuguese government’s recent proposed Golden Visa changes, which would have prevented investors from purchasing property in central Lisbon and Porto from 2021, have reportedly been suspended because of the COVID-19 pandemic. This date will most likely be pushed back now for an indefinite time as it is not within the government’s priority to legislate anymore.

How many investors are getting Portugal Golden Visas this year?

Portugal’s Golden Visa Program is showing no signs of slowing down. According to Portugal SEF’s statistics, in July 2020 alone, 108 residence permits were issued to investors. For more information, visit our dedicated Portugal Golden Visa statistics page.