All you need to know about the Golden Visa scheme: what is it, requirements for application, key benefits and changes for 2022. Your fast-track to live in Portugal.
The Golden Visa Program in Portugal began in May 2012 and was created as a way of allowing non-EU citizens the possibility to gain a residency permit in exchange for a 5-year real estate investment.
One of the most popular citizenship by investment programs both in Europe and the world, due to affordable property prices, safeness of the country, quality of life and good health care.
The proposed changes for 2022 mean that you will no longer be able to buy residential property in high density areas such as Lisbon, Porto and Algarve.
In terms of qualifying through investment, €350,000 placed in a fund will secure your application at present, but this amount is due to rise to €500,000 under the new rulings.
Also if you are investing capital to Portugal for the Golden Visa, the €1M will change to €1.5M.
So there are some changes to take into account. The good news is that anyone who submits their application before 1 January 2022 will still be able to benefit from the terms of application as they are now, which stands to save them a substantial amount of money.
If you do it now, it can be as fast as 1 month to apply depending on your lawyer and the tax authorities.
Portugal is looking more attractive, thanks to the Golden Visa you can live in Portugal and apply for Portuguese nationality.
It is your ticket to move and travel all around Europe after Brexit, so you can carry on being a European citizen.
The answer is yes and no.
Yes, the Golden Visa is ending for residential properties in high-density coastal towns like Lisbon, Porto, and Algarve.
No, for low-density areas, starting from €280K (rehabilitation) and €400K (any property acquisition).
Want to know what are the high and low-density areas? Check this map on the article here.
Keep in mind that, if the real estate has any other purposes than residential, such as services, offices and commerce, its location will be IRRELEVANT, and the investor can still apply for the Golden Visa scheme if such property is located in Lisbon, Porto or Algarve, after 1st January 2022.
Considering that many investors have preferences for touristic projects, who can grant a nice return on investment, the Golden Visa seems a great opportunity to be your ticket way to Portugal if you live outside the EU/EEA/Switzerland.
Still thinking why Portugal? Discover 13 reasons for living in Portugal.
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