Portugal Golden Visa updates new investment rule
The changes related to real estate investment when participating in the official Portugal Golden Visa program are no longer effective as of October 7, 2023. Therefore, foreign investors will now invest in new forms as regulated by the information provided below
Approved by the President of Portugal and ratified by the Parliament, the new law related to the official Golden Visa program is now in effect. Real estate investment has been removed from the list of investment options. This means that, after October 7, 2023, new applications for the Golden Visa program through real estate transactions to obtain Portuguese residency permits (ARI) will no longer be accepted.
1. The forms of real estate investment are eliminated
- Financial investments, transferring capital of over 1.5 million euros
- Purchasing real estate with a value of 500,000 euros
- Purchasing real estate with a value of 350,000 euros (properties built over 30 years or located in urban improvement areas)
However, certain special cases in the real estate industry still apply to the acceptance of ARI program applications in Portugal, such as:
- For applicants who have already invested and are awaiting the processing of their previous applications by the Municipal Court.
- When investors meet the requirements and conditions for permanent residence permits
In both of the above cases, the ARI will be converted into a residence permit for immigrant entrepreneurs.
After a lengthy debate, the draft law “Mais Habitação” was officially enacted by the Portuguese Parliament on September 21, 2023, ensuring the future of the Golden Visa program.
2. New Law – New Opportunities
To qualify for the Golden Visa under the new regulations, investors can choose from various new investment options:
- Invest in activities that create at least 10 jobs in Portugal.
- Invest a minimum of 500,000 EUR in research activities of a private or state scientific institution, in line with the national science and technology development program.
- Invest a minimum of 250,000 EUR in investment activities or the support of artistic production, restoration, or preservation of national cultural heritage.
- Invest a minimum of 500,000 EUR in purchasing shares of collective investment organizations, including certain specified funds, established under Portuguese law, with a minimum maturity of 5 years and at least 60% of the fund’s investment being made in commercial companies headquartered in Portugal.
- Invest a minimum of 500,000 EUR to establish a commercial company with a registered office in Portuguese territory, combined with the creation of 5 new jobs, or to purchase equity capital in a commercial company with a registered office in Portuguese territory, which has been established and has created at least 5 new jobs or maintains at least 10 jobs.
Investing in a fund in Portugal is expected to become the most popular option, even though the minimum investment threshold is twice that of the cultural investment option at 250,000 EUR.
Investment options (1), (2), and (3) mentioned above will be eligible for a 20% reduction in the investment amount if the investment is made in sparsely populated areas (areas with fewer than 100 people per square kilometer or GDP per capita lower than 75% of the national average).
Owning a Portuguese Golden Visa comes with many exclusive benefits, such as easy travel to Schengen countries (27 nations) for Vietnamese investors, diversification of assets abroad, and more, through flexible investment solutions.
With years of experience in consulting for Golden Visa investments in Portugal and other European, American, and Australian countries, Interimm is confident in providing high-quality, suitable solutions and is ready to commit to supporting clients throughout their journey to becoming global citizens.
Please note that information about the Golden Visa program is subject to change. Keep an eye on Interimm for the latest updates on the Portugal residency program. Contact Interimm now via hotline 093 183 08 38