Portugal Delays Golden Visa Changes Until 2022
Posted by rubinaaqmal on February 16th, 2021
In a surprise announcement, the Portuguese Government has confirmed the sweeping changes to the popular Golden Visa programme will now be delayed until 1st January 2022.
The original proposal had changes being implemented on 1st July 2021, but with the new announcement, applicants will have an additional 6 months to apply under the current regulations. As such, real estate purchased in Lisbon, Porto and the coastal areas like the Algarve will still qualify for the Golden Visa until the end of the year.
The changes are intended to encourage residential property investment inland away from the major cities. However, it is believed that commercial property will still qualify in Porto and Lisbon, but this is still yet to be confirmed.
For applicants unable to proceed this year, on 1st January 2022 the minimum investment thresholds will be raised as follows:
RIF Trust's COO David Regueiro welcomes the announcement, “many of our clients were feeling rushed with the July deadline given the state of the global pandemic. The additional six months is already being well received with our clients from around the world. Latitude has a wide range of qualifying €280K, €350K and €500K real estate options for clients to choose from.”
Additionally, David confirms the growth in popularity of the fund option, “the interest in the Venture Capital Option has spiked over the last six months as it has given many clients that are unable to travel to Portugal to view property options in person an alternative option for their Golden Visa. There is a strong appetite for conservative funds that are well structured and led by strong teams.”
For more information on the Portugal Golden Visa, please contact us today.
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