since the start of 2023, every month there’s a new update regarding Portugal Golden Visa Program. Honestly, the uncertainty and fear of its ending have affected the immigration and investment industry a lot. Now on 20th June 2023, Portugal’s Governing Socialist Party has proposed to continue the Golden Visa Program with some significant amendments. This came out as a happy surprise for people aspiring to get Portugal Golden Visa that the program is clearly not ending anytime soon.
The recent amendments are huge as investors cannot attain Golden Visa by making a real estate investment in any region. The route of capital transfer bank deposit is no more applicable as well. The closing of these two routes will affect the number of applications in the coming months. But Investors are happy that they can at least have an alternate way to get access to European Residency.
Possible Routes to Get Portugal Golden Visa
- Minimum 10 Job Creations in Portugal
- A Minimum Contribution of EUR 500,000 in Scientific Research
- Cultural Heritage Production with a minimum amount of EUR 250,000
- Capital Investment Funds with a minimum budget of EUR 500,000
- Business Investment that ensures at least 5 jobs
To be honest, the change is big and this will take a while for investors to grasp it. The governing party has changed its mind due to the retroactive effect of the Golden Visa end. The world wasn’t really calm about the Portugal Golden Visa ending permanently. On 19th July 2023, all the authorities will sit in the parliament to vote on an amended housing bill. A documented statement will be shared once the housing bill will be approved. As for now, we are sure that Portugal Golden Visa is here to stay for more years, stay tuned to our website for more updated information about Golden Visa and all the European countries offering citizenship & residency.
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