Golden Visa Programme Update in Portugal
Long-anticipated changes to Portugal’s Golden Visa programme have now been confirmed.
The country’s Council of Ministers have approved a change in a decree-law that will see residence investment channeled away from metropolitan and coastal property hotspots such as Lisbon, Porto, as well as the entirety of the coast, toward the less-densely populated interior.
However, the current Golden Visa programme will not be cancelled at the end of December this year, the programme will gradually be terminated in a phased approach commencing in July 2021 and terminating sometime in 2022. The threshold for eligibility will probably increase from July 2021, until termination in 2022.
The announcement by the government provides welcome clarity for investors who now have a once in a lifetime opportunity to invest in Lisbon.
RE Capital & NEWORLD firmly believe that in the long term, the Portuguese Golden Visa proposition will remain strong and that aside from the direct investment into Real Estate, there will be other options available to secure EU residency.
Feel free to contact us if you have any questions, for all sales inquiries please contact Alan Bell (email: alan@neworld.eu) from NEWORLD.
