Portugal has made some important changes to Golden visa legislation upcoming effective 2022 which is aimed at development of inner regions of Portugal. Do you know what’s changing in Portugal?
The Decree Law No. 14/2021 will enter into force on Jan 1, 2022, increases of the amounts involving “Investment activity”.
Many investors are confused and dont know what exactly these changes are. We will tell you what’s changing and what not.
We have both good news and bad news. First the bad news.
- Residential – Property investments in Lisbon, Porto and Algarve regions will be banned for GV purpose. The acquisition of property with a value equal to or over 500,000€ is only allowed when the dwellings are located in the Autonomous Regions of the Azores and Madeira or in inland territories.
- Bonds, Bank deposits – Capital transfers in the form of bonds, securities, bank deposit) will increase to 1.5M euros (from 1M euros)
- Investment funds will increase to 500K euros (from 350K euros)
- Commercial companies – Capital investments in commercial companies and for research activities will increase to 500K euros (from current 350K euros)
Here comes the good news
- Residential Property Low Density Areas: The 280K euro property investment will remain the same for low density regions.
- Residential Refurbished Properties: The 350K euro property investments on refurbished or 30 year old properties will also be available.
- Commercial / Hotels: Commercial investments are not affected by GV rules. This means Hotel investments will remain the same, will be available from 280k euros and will not increase with the possibility to invest in Lisbon, Porto and Algarve regions.
You can file application until Dec 31, 2021 the last date under the current golden visa rules.
Please remember the last minute rush with the soaring demand and rule change may significantly stretch the processing times for golden visa, to 12 months or more. Here is the full breakdown of processing timelines.
It is important to note that EU and EEE and Swiss nationals are not eligible to apply for the ARI / Golden Visa scheme.
Another important benefit is GV investors who are third country nationals can apply for Portuguese citizenship, by naturalization, provided all other requirements set out by the Nationality Act number 37/81 of 3 October.