In an unexpected announcement, the Portuguese Government has now confirmed that the comprehensive changes being made to the country’s ever-popular Golden Visa program will be postponed until 1 January 2022.
We previously discussed the amendments being made to the Portugal Golden Visa Program, detailing the new regulations and how it affects foreign investors who apply. However, this new development comes as a welcomed surprise, as it now affords applicants an additional 6 months to take advantage of the current Residency by Investment offers. Furthermore, these amendments to the program will not affect Golden Visa renewal applications, nor any existing applications submitted before 2022.
In this Article
- What changes are being made?
- Why apply for a Portugal Golden Visa?
- Gulf News Webinar
- Meet the expert speakers
- What’s on the agenda?
- Book a free consultation
There has never been a better time to take advantage of the fantastic benefits afforded by this Residency by Investment option. If you have been waiting for the perfect opportunity to apply to the Portugal Golden Visa program, then this is your sign to do it now before the new changes come into effect.
What changes are being made?
The latest changes being made to the Portugal Golden Visa Program has garnered much talk among potential investors, who are keen to learn more about the amendments and the effects they might have. As of 1 January 2022, the following changes will take place:
- Purchasing a residential property as a real estate investment for EUR 500,000 or properties in need of restoration for EUR 350,000 or properties in low-density areas for EUR 280,000 will only be applicable in the Inland Territories, Azores and Madeira.
- From 1 January 2022, no residential property in Lisbon and Porto will be considered applicable for the Golden Visa program, but will still be offered on non-residential properties.
- The 20% price reduction on residential properties in need of restoration in Lisbon and Porto will no longer be available. However, it will still be offered on properties used for non-residential purposes.
- A transfer of capital as the qualifying investment for a Golden Visa is increased from EUR 1 million to EUR 1.5 million.
- Investments in research activities will increase from EUR 350,000 to EUR 500,000.
- The required amount to participate in the investment funds will increase from EUR 350,000 to EUR 500,000.
- The capital amount needed to invest in a commercial company and create at least 5 jobs will increase from EUR 350,000 to EUR 500,000.
Why apply for a Portugal Golden Visa?
- Strong real estate market: Analysis by property specialists Knight Frank identifies Lisbon, along with Monaco, Vienna and Shanghai, as the “only four major prime residential markets set to see growth throughout the remainder of 2020”.
- Minimal residency requirements: You are only required to visit Portugal for 7 days per year.
- Safety & stability: Portugal is the third safest and most peaceful country in the world.
- Pathway to citizenship: When investors fulfil all the residency program requirements and learn Portuguese up to a basic level, they are then eligible to apply for Portuguese citizenship after 5 years.
- High-ranked passport: The Portuguese passport is ranked in the top 5 passports in the world for ease of travel.
- Freedom of movement: As a Golden Visa resident of Portugal, investors are also classified as a resident of the European Union. They will gain freedom of movement without restrictions in the Schengen Area.
- Health & Education: Investors and their families can enjoy quality education in schools and universities and world-class healthcare across Portugal and Europe.
- Ease of travel: Once residents of Portugal obtain citizenship, they can enjoy visa-free or visa-on-arrival travel to over 185 countries and territories, including the USA, Canada and Australia.
Learn more about the changes being made
Savory & Partners – a leading Citizenship and Residency by Investment firm in the MENA region – hosted a live webinar in collaboration with Gulf News – the main news outlet for the United Arab Emirates and highly respected media platform in the Middle East – to discuss these important changes and updates. Those who attended the webinar were treated to key insights and informed outlooks provided by an experienced panel of immigration and real estate experts, as well as a forecast of what these amendments mean for those seeking residency in Portugal.
The live webinar was recorded and the entire discussion can be viewed on YouTube:
Gulf News Webinar
Meet the expert speakers
Jeremy Savory | CEO & Founder of Savory & Partners
Named one of Arabian Business Magazine’s “40 And Under” most influential young business leaders in the MENA region in 2018, Jeremy Savory has only continued to build on his impressive success in the immigration industry. Heading up one of the world’s leading high-net-worth citizenship by investment firms – with a spotless 100% success rate – is no small or easy feat. This coupled with his vast experience and commitment to improving upon the due diligence and governance in the citizenship by investment industry is the perfect foundation to provide the necessary commentary on the changes to the Portugal Golden Visa program.
Duarte Norton dos Reis | General Manager of the BWA Group
With an impressive career in the real estate industry, spanning nearly a decade – culminating in the General Manager position at the real estate development company, BWA Group – Duarte Norton dos Reis has a wealth of knowledge and expertise to share on the subjects of real estate ventures and yearly forecasts.
Christian Henrik Nesheim | Founding Editor of IMIDaily
Christian Henrik Nesheim is the founder and editor of Investment Migration Insider, also known as IMIDaily, the leading source of intelligence for the Citizenship and Residency by Investment industry. Nesheim has well-rounded insight into every aspect of the immigration industry and his contribution to this panel is invaluable.
What’s on the agenda?
This webinar on residency and citizenship in Portugal aims to help potential and current investors understand the upcoming changes being made, as well as to answer all queries on the topic and discuss the optimal route for those seeking to apply to the Portugal Golden Visa Program. In addition, the benefits that come along with investing in Portugal will also be covered by the panel.
The key topics that were addressed during the webinar are:
- What makes Portugal the most attractive EU destination amid the pandemic?
- The details of the Golden Visa program and its success to date.
- Updates on new government pricing, as well as 2020 data and trends.
- Overview of 2021 real estate market and forecasts for the year ahead.
Book A Free Consultation
We are aware that these changes might cause confusion in potential investors and cause them to be hesitant in making decisions. When applying to any Residency by Investment program, please be sure to render the services of a government authorized agent and advisor like Savory & Partners. The internet is rife with fraudulent companies offering scams that promise citizenship or residency within an implausible timeframe and at an impossibly low price. If it’s too good to be true, then it probably is.
Savory & Partners is a government-approved agency that specializes in high-net-worth individuals applying to any Citizenship or Residency by Investment program. We are a British Authorised Agent with decades of experience who has helped over 1,100 families obtain second citizenship and have a 100% success rate.
If you are considering applying to the Portugal Golden Visa Program before these changes are implemented or would like to know more about the situation, do not hesitate to contact us for a free online consultation. All of our team members have at least 5 years of experience in Citizenship and Residency by Investment Programs.
We are available on every channel convenient for you.