Flash News: Portugal's Golden Visa - Recent Developments

The final draft of the restructured Portugal Golden Visa programme has been approved and it will be implemented in the near future, although an official commencement date has yet to be announced. The new programme will encompass five investment options, each offering the same set of conditions and benefits. Notably, real estate investments will no longer be eligible under the revised program.

Last week, the Portuguese Parliament approved the housing package, thereby introducing amendments to the Golden Visa programme. However, contrary to initial proposals, the program will persist, and the new legislation will solely impose limitations on real estate investment categories.

Consequently, applications for a Golden Visa based on capital transfers to Portugal or any direct or indirect real estate investments through eligible channels will no longer be viable.

The remaining options for eligible Golden Visa investments are as follows:

• Capital transfers of at least €500,000.00 for the acquisition of non-real estate collective investment assets, incorporated under Portuguese law, with a minimum maturity of five years and at least 60% of the investment dedicated to commercial companies domiciled in Portugal.

• Creation of 10 or more jobs*.

• Capital transfer of €500,000.00 or more for the establishment of a Portuguese company combined with the creation of five permanent jobs, or investment in an existing company combined with the creation of five permanent jobs or maintenance of ten jobs, for a minimum duration of three years.

• Transfer of capital equal to or greater than €500,000.00 for investment in research activities carried out by public or private scientific research institutions engaged in the national scientific or technological system*.

• Capital transfer equal to or greater than €250,000.00 for investment in artistic production or support for the arts, for the restoration or renovation of national heritage, through local and central authorities, public institutions, or eligible private organisations*.

*The minimum investment amount is reduced by 20% for investments in low-density areas.

Portugal’s Golden Visa programme remains active and is currently the sole programme that facilitates shorter minimum stay requirements while also offering a pathway to Portuguese citizenship after a period of 5 years.

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