Enacted Bill Alters Portugal Golden Visa Requirements

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We already told you about the imminent closure of the real estate route to a Portugal Golden Visa. After an initial veto of the Mais Habitação draft law, Portuguese President Marcelo de Sousa enacted this More Housing bill on Saturday, September 30, 2023. He was left with no choice after the Portuguese Parliament voted to approve it.

Now investors have five paths to a coveted Golden Visa. You can still claim Residency by Investment in Portugal if you meet one of the following requirements:

1. Create at least 10 new jobs
2. Transfer at least €500,000 to accredited institutions for the purposes of national scientific and technological research
3. Transfer at least €250,000 to support artistic production or maintenance/recovery of Portuguese cultural heritage
4. Transfer at least €500,000 to acquire shares in specific collective organisms including certain types of funds that mature no earlier than five years’ time
5. Transfer at least €500,000 to incorporate or maintain a commercial company with a registered office in Portugal and create or sustain five permanent positions

As before the elimination of the property purchase option, 1-3 investment levels decrease by 20% if you’re investing in low-density or economically-disadvantaged areas.

Latitude North America Managing Partner Jon Green has helped many Canadian and US HNWIs and their families obtain Portuguese Residency by Investment. He believes the changes in Portugal Golden Visa requirements will have an effect: “We anticipate that current and future clients will shift their focus to other RBI programmes in Europe.”

“There was already a developing interest in Greek and Spanish Golden Visas. Given the promulgation of the More Housing draft legislation, we expect investment to intensify in these two countries.”

RIF Trust, Experts in Residency by Investment

Whether it’s the Caribbean or Europe, we are specialists in Residency by Investment. We have helped thousands of clients to acquire a new residency.

Our team of experienced advisors will assist you at every turn. They know all about Portugal Golden Visa requirements and beyond. So, don’t delay. Contact RIF Trust today.