04/10/2023

Changes to Portugal's Golden Visa Program: What You Need to Know

Portugal, known for its captivating landscapes, rich history, and vibrant culture, has been a hotspot for international investors seeking residency through its Golden Visa Program. This sought-after program has long provided a gateway to European living for those with a penchant for the Portuguese way of life. However, recent changes are reshaping the program, ushering in new opportunities and considerations for prospective investors.

A Shift Away From Real Estate

A notable change in the Golden Visa Program is discontinuing the real estate investment option. The revamped program offers a bouquet of alternative pathways to Portuguese residency, with a 20% reduction applying to these amounts when invested in regions with low population density:

  • Research Investments: Committing €500,000 or more to research activities conducted by scientific institutions, whether public or private, presents another avenue.
  • Business Ventures: Investing €500,000 or more in shares of non-real-estate ventures or commercial companies headquartered in Portugal while creating five permanent jobs can lead to residency.
  • Collective Investment: Opting for joint investment with a minimum capital transfer of €500,000 becomes viable.
  • Job Creation: Creating a minimum of ten jobs opens doors to residency.
  • Cultural and Artistic Support: Investors can allocate €250,000 or higher to support artistic production, cultural heritage preservation, or related activities through various channels.

Addressing Portugal's Housing Crisis

These program changes align with Portugal’s response to a housing crisis. The introduction of the “More Housing” bill, approved by Parliament in July, played a pivotal role in this shift. Among its provisions was the termination of residency acquisition through real estate investment.
Despite occasional controversies and criticisms, Portugal’s Golden Visa Program maintains its allure. It has consistently ranked as one of Europe’s most prominent residency and citizenship schemes, attracting investors worldwide. In the initial four months of 2023, it was evident that the program has experienced substantial growth, nearing an overall investment of nearly 200 million euros.

Navigating Portugal's Shifting Landscape

This transitional period brings challenges and opportunities for those considering Portugal’s Golden Visa. While the traditional real estate route evolves, new avenues open doors to diverse and potentially lucrative investments. Contact us today to help you navigate this changing landscape, maximizing current opportunities and ensuring a smooth transition into the program’s new era.