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Update for Major Changes Coming to the Portugal Golden Visa
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The Portuguese government has announced they will make sweeping changes to their popular Golden Visa Programme in order to encourage further foreign direct investments in less densely populated areas of the country and discourage future investment into its main cities. While the proposal has yet to be finalized, we do know the changes will come into effect on July 1st, 2021.
Speculation around possible changes started in early January 2020 but we now have more clarity on the amendments:
- Previously, the coastal areas of the country such as Lisbon, Porto, and the Algarve were very popular areas for purchasing the qualifying real estate investment under the Golden Visa. However, the government will be removing these qualifying areas from the programme and push applicants to purchase more inland or in “low density” regions of the country.
- While not yet confirmed, we also expect the minimum investment levels to significantly increase for the real estate and fund options.
Why does this mean for me?
It is still possible to take advantage of the current regulations and pricing by starting your application in the coming weeks. By doing so, we will be able to ensure that you will qualify at the current lower investment thresholds.
As we covered in a recent article, with Brexit now fully realized, UK nationals are finally eligible to apply for the Portugal Golden Visa.
Contact us today to begin your Portugal Golden Visa application.