The government of Portugal has confirmed that the Portugal Golden Visa Program will be subject to several new changes, effective from January 1, 2022.
Accordingly, among the new changes in Portugal’s Visa Program will be the elimination of Lisbon, Porto as well as the Algarve as territories eligible to purchase houses and apartments.
The government also clarified that the minimum investment value for real estate, which currently stands at €500,000, will remain the same.
Visit SchengenVisaInfo.com for more reports on the above!
Portugal’s government has also announced that the investment values will climb by more than 50%, which means investment funds will increase from about €350,000 to €500,000.
Regarding the incorporation of a commercial company or to reinforce the share of a commercial company, internationals interested in such a program will be required to invest €500.000 instead of €350,000, as well as to create at least five jobs.
The new changes have been specifically designed to promote international investment in low-density territories.
Through this new change, the capital transfer will be increased from €1 Million to €1.5 Million. At the same time, the capital transfer for research activities will also increase from €350,000 to €500,000.
Portugal’s government announced that it prolonged the deadline in order the deadline to include investments in Porto and Lisbon from the Golden Visa program from July 2021 until January 2022. However, the announcement came after local authorities urged to prohibit investments in both territories as a way of encouraging investments in other areas that are less popular.
Since 2012, a total of 16,910 family members have been included in the Golden Visa applications. If they receive Portugal’s Golden Visa can become eligible for citizenship after five years.
Internationals interested in receiving Portugal’s Golden Visa are not required to live in Portugal during the period to acquire citizenship through this program. However, they need to spend seven to fourteen days per year in Portugal.
Still, they will be obliged to prove the accommodation in Portugal, a steady income as well as at least basic knowledge of the Portuguese language.
What are your thoughts on Portugal’s Golden Visa program? Let us know in the comments below!
