Golden Visas will undergo an important change on January 1, 2022. The main changes will focus on the minimum amounts required in the different categories and also on the delimitation of specific areas for real estate investment in order to qualify for a Golden Visa.
1 – What is the Golden Visa?
The main objective of the Golden Visas is to obtain a residence visa in Portugal by making an investment. This mechanism exists since 2012 and allows foreign citizens, for a minimum period of five years, to enjoy access to a Portuguese visa.
All third country nationals who carry out an investment activity in Portugal can apply for the Golden Visa through the various possible options.
2 – What will change come January 1st, 2022?
The Golden Visa has a number of requirements that will change at the start of the new year.
This means that, from January 1, 2022, new rules will be imposed regarding the possibility of obtaining a Golden Visa through the various investment options in Portuguese territory, namely:
– A financial transfer for the minimum amount of €1,500,000;
– A financial transfer for the minimum amount of €500,000, which is applied in scientific research activities;
– A financial transfer for the minimum amount of €500,000, intended for the acquisition of stock in investment funds or capital funds;
– A financial transfer for the minimum amount of €500,000, intended for the incorporation of a commercial company, or company already incorporated, combined with the creation of five jobs, for a minimum period of three years;
– Acquisition of real estate property for residential purposes for a minimum amount of €500,000, located in Madeira or in the Azores, or in the interior territories (identified in the annex to Ordinance No. 208/2017, of 13 July);
– Acquisition of real estate, constructed at least 30 years ago or located in an urban rehabilitation area for a minimum amount of €350,000, only located in Madeira or in the Azores, or in the interior territories (identified in annex to Ordinance No. 208/2017, of July 13);
All remaining rules already imposed for obtaining a Golden Visa remain unchanged. Namely:
– Creation of at least 10 jobs;
– Acquisition of real estate for a minimum amount of €500,000.
– A financial transfer for the minimum amount of €250,000, which is applied in investment in agricultural production or in the recovery and maintenance of the national cultural heritage.
3 – Are the changes to the Gold Visa regime retroactive?
No. All visa holders are protected up until the date of entry of the new rules, that is, all Golden Visa beneficiaries until January 2022 will continue with their benefits, even after the planned changes come into force.
Article written by Sara Filipe, for the Summer Internship Program organized by the Regional Youth Services.