The Portuguese government made changes to the investment program
At the end of last year, it became known that the Portuguese government was planning to change the terms of the investment program. However, in February 2021 it became known that the new rules will take effect in January 2022. Therefore, many people rushed to take advantage of the Golden Visa to get a residence permit.
The original version of the changes to the current investment program was to last until July 2021, after which a transitional period of a few months. However, after time, authorities have revised the terms, and now until the end of the year investors operate the old rules for the purchase of real estate in Lisbon, Porto and other cities along the coast.
Since the new year, the Government of Portugal plans to increase the minimum entry threshold into the program, although this change does not apply to all types of investments. In addition, non-residents of the country will narrow down the options for the regions where you can buy real estate.
From 2022 to become a party to the Golden Visa, the applicant may use different options. For example, he must open a deposit in a Portuguese bank for an amount starting from 1.5 million euros, previously this figure was 1 million euros. A foreigner may also invest 500 thousand euros in a local investment fund, now this amount is 350 thousand euros. The requirements for the purchase of housing in Portugal is the threshold of 500 thousand euros, the property under reconstruction will cost from 350 thousand euros. Objects for investment are available not only in the interior regions of the country, but also in the Azores and Madeira.
Those wishing to obtain a residence permit can open a business in Portugal, for this they need to create a company with a minimum capital of 500 thousand euros and with 5 jobs for local specialists. The same amount can be contributed to the account of an existing business. As an option to participate in the program, donations of 500 thousand for the development of science and various research are also accepted. However, no applicant has yet taken advantage of this investment option. The changes in the Golden Visa did not affect commercial real estate. Foreign nationals who have time to apply for the program until the end of the year can obtain a residence permit under the current rules.
The investment program in Portugal has operated since 2012, and during this time it has taken advantage of more than 10 thousand foreigners. Unlike many EU countries, the conditions of the Golden Visa here are quite democratic, in addition, the whole process takes 3-5 months, which is a good result. Residence permit in Portugal is very popular with citizens of China, Turkey, South Africa and other states.