Changes to Portugal’s Golden Visa

The Portuguese government has decided to extend the deadline on Golden Visa investment in prime areas of the country until January 2022.

From 2022, applicants will be unable to buy property in Lisbon, Porto and the Algarve or coastal areas like Setubal and the Silver Coast. The government wants Visa’s to be used to promote foreign investment in lower density regions assisting urban regeneration. This means investors now have six months to invest in these popular areas.

There has been a massive increase in the number of enquiries for the scheme – particularly from British residents post-Brexit and those from Hong Kong and the USA. If you want to invest via the Golden Visa scheme, then it is imperative to start now, especially as property prices increased by 5.9 per cent last year.

The Portuguese Golden Visa is one of the most popular in the world. The scheme allows investors to live, work and study freely throughout the Schengen area and after five years they can even apply for a Portuguese passport. For high net worth individuals, a Golden Visa is a gateway to freedom. It’s not about relocating – but about creating future opportunities for one’s family, either for an improved quality of life, access to better education, or a safe haven from political instability.

Investors can also add family members to their applications as dependents and there is no need for full relocation, as long as they comply with the minimum stay requirements of just seven days in the first year and fourteen days in each subsequent period of two years.

Our expertise in the marketplace allows us to provide a complete service – with a reliable and reputable network of lawyers, banks, rental companies and tax advisors – we can assist with the application in a professional manner from start to finish and organise a speedy transaction in person or virtually.

To find out more, contact Berkshire Hathaway HomeServices Portugal Property – part of one of the world’s most trusted and respected corporations. Telephone +351 308 800 878 or 0800 014 8201 free from the UK. Alternatively, email us at info@portugalproperty.com.

Published in: Site news / Property for Sale in Portugal / Portuguese Life / Portugal Property / News and Updates / Guide to Portugal