{"id":33343,"date":"2020-12-27T10:35:34","date_gmt":"2020-12-27T06:35:34","guid":{"rendered":"https:\/\/www.savoryandpartners.com\/?p=33343"},"modified":"2021-02-17T23:40:18","modified_gmt":"2021-02-17T19:40:18","slug":"last-chance-to-invest-in-lisbon-porto-before-new-regulation-applies-portugal","status":"publish","type":"post","link":"https:\/\/old.savoryandparnters.com\/blog\/last-chance-to-invest-in-lisbon-porto-before-new-regulation-applies-portugal\/","title":{"rendered":"Last Chance to Invest in Lisbon & Porto Before New Regulation Applies"},"content":{"rendered":"

Late last year, the government of Portugal announced that they were interested in amending the country\u2019s Golden Visa Program. In March 2020, it was announced that these amendments were put on hold due to the outbreak of the Covid-19 pandemic and would be reconsidered once the world was in a more stable condition.<\/span><\/p>\n

Recently, the Portuguese government has given the go-ahead for significant changes to be made to the Golden Visa program \u2013 which will possibly be implemented at the start of 2021. Simply put, the amendments will prohibit Golden Visa applicants to invest in Lisbon and Porto.\u00a0<\/span><\/p>\n

In This Article<\/em><\/h2>\n
    \n
  1. What is the Portugal Golden Visa Program?<\/a><\/li>\n
  2. What Changes Are Being Made to the Program?<\/a><\/li>\n
  3. What Does This Mean for Potential Investors?<\/a><\/li>\n
  4. Why Apply for a Portugal Golden Visa?<\/a><\/li>\n
  5. Book A Free Consultation?<\/a><\/li>\n<\/ol>\n

    To ensure that you have the utmost clarity on what these new amendments mean for prospective investors, we take a closer look at the changes being made to the <\/span>Portugal Golden Visa Program<\/span><\/a> for early 2021.<\/span><\/p>\n

    \"Sunny

    Aerial view of Algarve – Portugal.<\/p><\/div>\n

    What is the Portugal Golden Visa Program?<\/b><\/em><\/h3>\n

    Launched in October 2012, the Portugal Golden Visa program is a legal naturalization process based on the law that invites foreign investors from non-European Union countries to obtain fully-valid residence permits in Portugal for themselves and their families. The program is one of the most popular of its kind in the world due to the ease of application, straightforward process and minimal residency requirement.<\/span><\/p>\n

    The program consists of <\/span>a few simple steps<\/span><\/a> and requires applicants to be at least 18 years of age, in good health, possess no criminal record, have legitimate investment sources and successfully pass due diligence checks. Within a timeframe of 6 months, applicants will receive their new residency permit.<\/span><\/p>\n

    Related Article: Limited Time Offer \u2013 Save $45,000 on St Kitts & Nevis Citizenship by Investment<\/a><\/em><\/p>\n

    Once residency is obtained in Portugal, individuals have the right to live, work and study in the country as well as gain visa-free access to the Schengen Area. The program is particularly popular as it provides a path to citizenship.<\/span><\/p>\n

    What Changes Are Being Made to the Program?<\/b><\/em><\/h3>\n

    The Portugal Golden Visa program offers <\/span>several RBI options<\/span><\/a> to legally obtain permanent residency in the country. These options range from capital transfers and funding important research in the country to generating jobs and investing in local businesses.\u00a0<\/span><\/p>\n

    However, 90% of applicants choose to buy property in Portugal as a means of real estate investment. This is largely due to <\/span>Portugal having one of the highest rates for immigration and tourism in Europe<\/span><\/a> \u2013 due to its year-round warm weather, stable economy, vibrant culture, beautiful architecture and high standard of living \u2013 with Forbes magazine recently ranking the country as one of the top destinations in the world to live after the global pandemic. It is not difficult to see how purchasing property in Portugal can be a valuable asset.<\/span><\/p>\n

    You might also like: Antigua & Barbuda Citizenship by Investment Program Reduces Fees (Limited Time Offer)<\/a><\/em><\/p>\n

    The changes that are being made to the Portugal Golden Visa program, possibly at the start of 2021, will see the removal of real estate investments in the popular cities of Lisbon and Porto. This will mean that from 2021 onwards, individuals will no longer be able to purchase property in these states as the qualifying investment for Portugal residency.<\/span><\/p>\n

    \"Aerial

    Miradouro Lisboa – Papel de Parede<\/p><\/div>\n

    What Does This Mean for P<\/b>otential Investors in Portugal?<\/b><\/em><\/h3>\n

    Individuals will still be able to make the qualifying investments for residency in real estate or any other alternative option outside of Lisbon and Porto. These alternatives include:<\/p>\n

      \n
    1. Investing <\/span>\u20ac280,000 <\/b>in qualifying investments in low-density areas that have strong local and international investor demand. Few locations qualify for this legislation and some of these projects even offer guaranteed returns and buyback.<\/span><\/li>\n
    2. Invest in real estate worth\u00a0 <\/span>\u20ac350,000 <\/b>or <\/span>\u20ac500,000 <\/b>in other Portuguese cities outside of Lisbon and Porto.<\/span><\/li>\n<\/ol>\n

      However, if you are interested in buying a property in one of these two cities, we would advise you to begin your application and <\/span>apply to the program within 2 months <\/b>before the new regulations come into effect. The government of Portugal has provided no definitive date, as of yet, to when these changes will be made. The current expectation is that they will proceed with the removal of Lisbon and Porto from the program in the early new year.<\/span><\/p>\n

      Why Apply for a Portugal Golden Visa?<\/b><\/em><\/h3>\n