One of the most well-known residency-by-investment schemes worldwide is Portugal’s Golden visa.
Thousands of families have successfully relocated to Portugal, the charming center of Southwestern Europe, since its beginning in 2012 and have begun new lives there.
This article looks at the key changes made to the golden visa in 2022 and how to get a golden visa.
Overview Of Portugal’s Golden Visa
The Portugal Golden visa Program, called the Residence Permit Program, offers non-EU nationals a five-year residency by investment option.
It’s a component of Portugal’s effort to encourage foreign investors.
Portugal’s captivating Atlantic coastline, lush landscapes, and year-round weather entice visitors. The golden visa allows eligible investors and their families to travel freely within the Schengen Area of Europe and live, work, and study in Portugal.
Suppose the qualifying investment is held for at least five years and all conditions specified by the Portuguese immigration and nationality rules are met.
In that case, opportunities to become a permanent resident or citizen may be available.
Ranked as one of the world’s most well-known Golden visa programs, the Portuguese program grants residency in Portugal in exchange for financial investments in the country’s economy.
Though the phrase “investment” can be intimidating, it can be as easy as purchasing a home.
Changes to the Portugal Golden Visa For 2022
The Portugal Golden visa has new changes. The new law in Portugal limits the “eligible” regions for real estate investment within Portugal and raises the cost of investment alternatives. The new rules went into effect on January 1, 2022.
According to the Portuguese government, these adjustments are necessary to distribute foreign investment throughout Portugal fairly.
The government is currently concentrating on boosting the real estate market in Portugal’s interior regions, while the markets in Lisbon and Porto are flourishing.
Key changes to the Golden visa are as follows:
- In well-known urban locations like Lisbon, Porto, the Algarve, and seaside communities like Setúbal and the Silver Coast, investors are not permitted to invest in residential real estate.
- Only applicants who can afford to spend between €350,000 and €500,000 on a rehabilitation project may purchase residential property in Portugal’s designated interior zones. A 20 percent discount is given if the residential property is situated in a “low-density” neighbourhood.
- Investors can buy commercial real estate worth between €350,000 and €500,000 if they invest in a commercial restoration project, anywhere in the nation. A 20 percent reduction is applied if the commercial property is situated in a designated “low-density” region.
- Investors can purchase residential and commercial real estate anywhere in Portugal’s independent islands of Madeira and Azores, for at least €500,000, or €350,000 if they choose to participate in a restoration project.
- Changes in capital transfers: The required capital transfer amount has increased from €1 million to €1.5 million.
- The minimum subscription amount for Investment Funds has increased from €350,000 to €500,000.
- There has been a rise in funding for scientific research from €350,000 to €500,000.
- Investment into a currently operating company with a Portugal registration has increased from €350,000 to €500,000. The €250,000 gift for the arts stays the same.
Key Guide On How To Get A Golden Visa
Although applying for a golden visa is simple, there are a lot of processes to follow for a successful application. They are:
After choosing your investment, you must gather the necessary documentation for both yourself and any dependents you plan to list on the application. We will submit the appropriate inspection papers after making sure they are in order.
Bank account and NIF
Get a fiscal representative to help you obtain Portugal’s tax identification number (NIF). A fiscal representative will help you open a bank account in Portugal after you have your NIF. We can handle this remotely.
Start protecting your money and review the documentation needed to ensure your investment is effective.
Submit an online application.
Provided you meet the standards, your application will be pre-approved.
It typically takes two months from the time you schedule your interview for you to attend a biometrics collecting session physically.
Golden Visa issuance
After your biometrics, it typically takes 4 months for SEF to issue your Golden Visa. Pay the price for obtaining a government permit. The residence cards will subsequently be gathered by us and sent to you on your behalf.