Created in 2012, Portugal's Golden Visa program is by far one of the most popular ways for non-EU citizens to gain residency and/or citizenship in Portugal through investment - with real estate being the top form of investing.
The process itself takes place over the space of five years, and only requires a minimum stay in Portugal per year. It's a wonderful opportunity for those who are looking to relocate to Portugal, investors and applicants in general who long for visa-free travel throughout 186 countries.
Changes to the Golden Visa in 2021
On the 22nd of December last year, the Portuguese government announced the end of the Golden Visa for properties in Lisbon, Porto and coastal Algarve. This means that applicants will have the option of purchasing properties in more unfrequented areas of the country, which could hinder plans for foreign investment or even relocation.
APPII (the Portuguese Association of Real Estate Promoters and Investors), have taken a strong stance to this decision, requesting a transitional period up to 2022. The sudden change implemented by the government, means companies relying on this specific program will need to regroup and develop new strategies that will cater to these changes, creating a balance that will allow professionals to maintain their jobs, while providing quality service for future Golden Visa applicants.
Why you should apply for the Golden Visa NOW!
As it stands, Golden Visa applicants can still apply under the current guidelines until 30th June 2021. From 1st of July 2021, changes will come into place, which will include increases to the current threshold amounts, as well as limited locations for investment. This means that if you are looking for property in Portugal, as well as citizenship, NOW is the time to buy!
If you are interested in applying for the Golden Visa and would like expert advice, get in touch with the team! Give us a call on +351 289 513 434 or send us an email on info@idealhomesinternational.com
