Although the Golden Visa program in Portugal is nearing its end, it will remain active until at least mid-June, and potentially early July for submission of applications.
On April 14th, the Government released the new law proposal. It states, unambiguously, that Golden Visa applications submitted now and until the new law is enacted remain valid and are processed under the current regime (no retroactive effects), including the minimum stay requirements of one week a year, on average.
Update: The parliamentary vote was tentatively set for July 19th. After the vote, the proposed law must be ratified by the President and published in the official gazette. These steps will take at least two weeks. As a result, the GV deadline will be after July.
“On the date on which this law enters into force, any pending applications for the residence permit for investment shall remain valid. For the permit renewals, applicants shall comply with a minimum stay, continuous or not, of seven days during the initial year and fourteen days during the subsequent two-year periods.”
— Government Law Proposal, p.70
The Parliament scheduled the start of the discussion concerning the law proposal to May 19th, later than expected. Considering the legislative process, the earliest the new law can be enacted is mid-June, but it is more likely to take effect only in July.
- Initial Discussion: General discussion of the law proposal in the Parliament plenary session
- Committee Review: Relevant committees examine the proposal and hear from experts and stakeholders
- Parliament Voting: Parliament can propose amendments and the proposed law is debated and voted upon
- President Ratification: The President can ratify, veto or send the proposal back to Parliament for further review
- Constitutional Court Validation: The President or other parties can request a constitutional assessment
- Official Publishing: The new law is enacted five days after its official publication in the Government Official Gazette
Although the Golden Visa program is nearing its end, it will remain active until at least mid-June, and potentially early July.
Can I still make it?
You can still make it and submit your Golden Visa application safely. The current law will remain in place at least in the next 45 days (until mid-June), if not more. This provides you with enough time to apply before the end, as the entire process can be done in less than two weeks.
What guarantees do you offer?
We provide a money-back guarantee that protects you against legislative changes. If you are unable to submit your Golden Visa application before the new law takes effect, all the payments you have made will be reimbursed within 30 days.
Do I need a bank account in Portugal?
We can help you expedite opening a new bank account (for US citizens it takes only one week). Alternatively, you can make the payments directly from your existing account to the developer and constructor, who will provide the required bank declarations.
What are the total costs?
We offer hotel investment shares in a branded boutique hotel. Besides the Є280k minimum investment amount to be eligible for the Golden Visa, you only need to pay around Є2.5k for the stamp duty and notary and registration fees. The property transfer tax (IMT) is paid by the developer and the VAT is included in the investment.
What is fast track application process?
Our Fast Track Application process allows you to submit in less than two weeks. It involves opening of bank account, Tax number and collecting documents.
What documents are required?
NOTE: Legalization (usually through Apostille) will be required at a later stage, for the personal documents highlighted in * above. However, the legalization is not necessary for the online submission. For spouses, children and parents, the marriage (or proof of partnership) and birth certificates will be needed.