Portugal’s government has decided to extend the deadline to exclude investments in Porto and Lisbon from the country’s Golden Visa Scheme from July 2021 to January 2022.
Real estate changes:
- Investors won’t be able to invest in property in high-density areas such as Lisbon, Porto, and the Algarve, as well as coastal towns like Setubal and the Silver Coast.
- Property investments : minimum sum required remains the same – €500,000 and €350,000 (for urban renovation) – but only in certain qualifying areas;
- The geographical restrictions will only apply to residential properties, while investment on any other form of real estate will not be bound to any such limitations.
Other changes:
- Capital investment: minimum €1.5m – previously €1m;
- Investment funds: at least €500,000 – previously €350,000;
- Investment in science and research activities: at least €500,000 – previously €350,000 ;
- Job creation: from €500,000 for incorporation/increase of share capital of a company which then needs to create five new jobs and maintain them permanently for at least three years – previously €350,000;
Applicants have until the end of 2021 to take advantage of the current Portugal Golden Visa scheme.
The Portuguese government has also announced that Golden Visa applications will now be digitalized. All documents are to be submitted digitally, including the issuance of the Portuguese Individual Tax Number. The change will help reduce bureaucracy and create a faster application process.
In fact, we see a bigger opportunity in the investment in Portuguese Venture Capital and Private Equity funds. Check out some thoughts shared by our CEO Paulo Pereira and find out the advantages this option represents.
Source: NOMAD GATE, SCHENGENVISAINFO
