Portugal Golden Visa has always been the most popular residency program in Europe. For almost a decade, more than 15,000 families successfully got their golden visas. In the last two years, the number has risen up to a whole different level.
At the start of 2021, there was an announcement made by the Portuguese government on the extension of purchasing real estate properties in Lisbon and Porto till January 2022. After Jan 2022, foreign investors wouldn’t be able to buy properties in these two cities. Basically, as the year is ending, there are some new changes in the program which will definitely surprise and benefit investors in a new way.
What is changing in the Portugal Golden Visa Program?
Before the new implications, Investors had a choice to invest in properties of their choices anywhere in Lisbon and Porto. Now, after looking at the stats of people getting the golden visa in the last 5 years, the government of Portugal has realized that investors are only interested in Residential areas and commercial sites e.g. apartments, hotels, restaurants, etc are being ignored.
But now, the scenarios of investments are changing:
|Can Foreign Investors invest in Residential Properties in Lisbon & Porto?||NO, from January 2022 onwards investors can not purchase residential properties in Lisbon & Porto.|
|Can Foreign Investors invest in Commercial Properties in Lisbon & Porto?||YES, Investors can still make investments in commercial Properties in Lisbon and Porto to get a golden visa.|
Will the changes to the program is going to affect the cost of Investment Options?
Yes, there are also changes in the investment amount which is as follows:
In the countryside areas, if investors want to purchase property, the new investment amount for commercial properties will be EUR 280,000. Whereas, for the residential properties, the minimum investment amount will be EUR 350,000.
Contrary to this, as we mentioned above that investors can no more invest in residential properties in Lisbon and Porto. But they can invest in commercial properties.
- For 30 years old, renovated commercial real estate properties in Lisbon and Porto, the investment amount will EUR 350,000.
- Whereas, you can purchase the brand new commercial properties in Lisbon and Porto with an investment amount of EUR 500,000.
Coming to the job creation part, Investors now need to invest EUR 500,000 instead of EUR 350,000. But now after establishing a business or being a shareholder in a Portugal-based business, you need to create 5 Jobs instead of 10.
Additional Perks of getting Portugal Golden Visa
- Your whole family will be included as dependents.
- You will surely get the citizenship after 5 years of residency.
- Once you’ll attain the citizenship, you are have freedom of traveling without a visa to 175+ countries.
- Portugal is a huge yet very stable economy to establish a business.
- Your children will get direct access to best educational opportunities.
- You can ensure your family’s health being part of a country with best healthcare facilities.