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Portugal Golden Visa Recent News
Jan 05, 2021
On 22nd December 2020 the Portuguese Government approved the decree law that will change the Golden Visa legal regime, with the aim of boosting foreign investment in the interior of the country and low density regions.
The new regime will most likely be enacted on 1st July 2021 and it will have a transitional period between that date and 2022 which will gradually increase the minimum amount required for real estate investments in the coastal regions of Portugal, including the urban centres of Lisboa and Porto, as well as the Algarve.
After the transitional period, real estate investments will be limited to inter-municipal communities of the interior of the country and the Islands of Madeira and Azores.
Being Portugal a rule of law nation, there will be no retroactive application to Golden Visas previously submitted until 30th June 2021, so investors that are still interested in this type of investment and in the places already identified, can submit their applications up to 30th June 2021 and all their investment rights will be protected.
The Golden Visa regime remains fully open to other types of investments, such as financial investments, thus offering alternative investment routes to Golden Visa applicants.
Diogo Pedro | Lawyer
It is known to the general public that the Portuguese Immigration Office (AIMA) has not been able to timely approve residency authorisation requests within the legal timeframe defined to do so, thus resulting in residency applicants having their applications on hold for months, in some cases even years. One way to tackle this inaction from the Immigration Office is to file a legal action, namely the Subpoena for rights, freedoms and guarantees of the citizens.
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