New year, new rules. Portugal introduced changes to Golden Visa Program
Portugal has rolled out new regulations concerning the highly popular Golden Visa Program. From January 1, 2022, new changes to the Portugal Golden Visa came into force
This twist appeared to be one of the most disputable in the CBI industry. The fact is that Portugal decided to raise investment in the low-density areas. And this means that from the present year, investors will not be able to buy a residential property in Lisbon, Porto, Algarve, and other popular cities.
The real estate option was the most sought-after thing for those who wanted to get Portugal residency. And many applicants truly avail of this opportunity to obtain a permanent home in Portugal and the status of a permanent resident (and later Portuguese citizenship) as a bonus.
For now, things go like this:
- Applicants can buy commercial properties in any region of Portugal. The minimum investment is €500,000. Investing in a rehabilitation project would cost €350,000
- Residential properties can be bought in low-density areas only. The minimum investment is €500,000. Investing in a rehabilitation project would cost €350,000
- Both types of properties are available in Madeira and Azores, Portugal’s autonomous islands. The minimum investment is €500,000. Investing in a rehabilitation project would cost €350,000
Note! You also can buy property for €280,000 and still qualify for the Portugal Golden Visa. The property needs to be older than 30 years old, located in a low-density area, and subject to renovation.
However, changes also affected other areas of investment:
- Investment by capital transfer is now €1,500,000
- Investment in research activities is now €500,000
- Investment by capital transfer for the acquisition of units of investment funds or venture capital funds, designated for the capitalization of companies is now €500,000
- Investment in existing Portugal-based business is now €500,000
Some things change. And some – remain the same.
- Art-donation option remained the same €250,000
- Setting up a Portuguese company with 10 new employees too
Although the Portuguese government tightens restrictions on buying properties to qualify for the Portugal Golden Visa, these changes have a lot of positive aspects. To find out more on each of the options, as well as the terms and conditions of obtaining the Portugal Golden Visa, please visit the page with more detailed information https://migronis.com/en/portugal-golden-visa.
Benefits of low-density areas
Many low-density areas are popular spots among tourists. Such are Alentejo, Douro Valley, Beja, Peneda-Gerês, Viseu, and other ones. Thus, you can possibly make a profit while buying property in these regions.
For example, Alentejo is one of the best wine regions in the country. This place is known as the Tuscany of Portugal! It is also home to the two UNESCO World Heritage sites So Alentejo can be definitely considered a tourist attraction. The same goes for Evora, a museum city with a specific historical legacy dating back to Roman times.
One should not forget about other regions as well. All of them have their benefits and peculiarities. The main task is to know them (if you want to rent the property).
Overall, low-density areas have the following benefits:
- You can save your money on the investment
- You can buy bigger real estate
- These regions are great to develop wellness
Benefits of the Portugal Golden Visa
- The fastest way to get European Union citizenship (for your family and you)
- Visa-free access to the Schengen area and the right to live, work, and study in Portugal
- Low stay requirement (only 7 days a year)
- Relatively affordable investment options
- Beneficial tax regime (NHR) for 10 years
- 100% return on investment with preservation of Portuguese residency (for some options)
- Minimum investment from €250,000. Or €280,000 (for real estate)
- Family members can be included in the application
- Great international and Portuguese schools and universities
- International quality healthcare clinics and hospitals
- No Portuguese language test (no need to know Portuguese language)
- Portugal is one of the most favorable countries for business
- Live in a safe country with affordable living costs and high quality of life
If you want to know more on visa-free countries for Portuguese citizens, do not hesitate to read this article https://migronis.com/en/blog/visa-free-countries-for-portugal-passport-holders
And if you want to get Portugal Golden Visa, book a free consultation from Migronis experts!
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