Posted: Thursday August 26, 2021
Big changes coming to the Portuguese golden visa
The Portuguese golden visa is about to see some big changes. As a result, time is running out to take advantage of the scheme at the current prices. Changes coming at the start of 2022 will see the minimum investment amounts increase. The areas where you can invest will also be limited. In this article, we look at the upcoming changes to the Portuguese golden visa scheme and their impact on investors.
About the Portuguese golden visaSince its launch in 2012, the Portuguese golden visa scheme has become one of the most successful in the world. The scheme gives you a fast-track method to secure permanent residency and eventually citizenship in the country. The programme allows non-EU nationals to obtain a visa by investing in Portugal. The programme is also now open to British citizens after the UK officially left the EU at the start of 2021. The types of investments can include:
- Real estate
- Capital investments
- Employment opportunities
- Visa-free travel to the Schengen Zone countries
- The right to live and work in Portugal
- Access to education and reduced tuition fees
Upcoming changes in 2022The changes to the Portuguese golden visa scheme will come into effect as of January 1st 2022. The changes affect two areas; where you can invest and how much it will cost to invest.
Where you can investThe locations where you can invest in real estate will be limited. You will no longer be able to access the golden visa by investing in property in major cities. Popular locations such as Porto, Lisbon and coastal towns will all be excluded. Most parts of the Algarve will still be accessible, which will come as welcome news. For a complete list of areas exempt from the changes, you can find them here on pages 2-4.
Minimum investment amountThe minimum amount required for the Portuguese golden visa is set to increase. The increase will depend on the type of investment you choose to make. The changes are as follows:
- Fund investments (includes property): rising from €350,000 to €500,000
- Capital transfers: increase from €1 million to €1.5 million
- Research and development investments: increasing from €350,000 to €500,000