Portugal’s Golden Visa, started in 2012, has been a popular choice for people all around the globe who are looking for a luxurious lifestyle in Europe. It attracted people seeking good education, excellent healthcare, and a chance to invest in real estate. Like every other successful program, the Portuguese Golden Visa has also evolved over time. However, even potential investors need to be aware of the changes, especially the recent ones. 99.9% of people know about the Real Estate option only to apply for a Portugal Golden Visa. However, there are a total of seven options that you can consider, and only 2 of them are closing.
If you’re considering applying in October 2023, knowing about the recent changes and how other options can help you is essential. In this blog, you’ll learn about the investment options required for a Golden Visa in Portugal.
Why the Portuguese Golden Visa Changed in 2023
The Portuguese Parliament introduced some new laws in February 2023. Those laws are made to address the existing problems of the country’s economy, particularly related to housing. The main goal was to increase the supply of housing. According to Prime Minister Antonio Costa, the law was aimed to simplify licensing and expand the rental market.
Available Investment Options for Portugal Golden Visa
Upon hearing this announcement, people got worried about the future of the Golden Visa program. As mentioned above, people have this misconception that the whole program of getting European residency might be canceled. This news caused so much uncertainty that on July 19th, 2023, Parliament announced that only two options would be removed: Real Estate and Fixed Deposit.
The rest of the investment options, which will apply to anyone filing a Golden Visa application as of today, are as follows:
- A capital transfer of at least € 500,000 for acquiring shares in non-real estate collective investment schemes of Portuguese companies.
- A capital transfer of at least € 500,000 for research activities conducted by public or private scientific research institutions in Portugal.
- Create at least five permanent jobs in commercial companies based in the national Portuguese territory.
- Capital transfer of € 500,000 of shares in government-approved certain investment funds.
- A capital transfer of at least € 250,000 for investment in artistic production, preservation of national cultural heritage, or related activities.
Once the new law is officially published, you won’t be able to apply for a Portugal Golden Visa through the Real Estate option anymore. This bill has been sent to Parliament which will be signed within a few days. However, Saad Ahsan Immigration Law Firm provides a wide range of options to obtain a European Residency and avail of other citizenship offers. As we know, understanding the investment goal is crucial in starting your process and finding the best options.