From 2022, changes come to the Portuguese residency by investment program. Starting a new year, in-house investment in real estate will be channeled from prime locations to more densely populated coastal cities in the hinterland and island regions.
This means that from the new year, obtaining a golden visa through real estate investments in Lisbon, Porto and most coastal areas will not be available. Instead, foreign investment will be redirected to the less densely populated inland regions, Madeira and the Azores.
Find Out more about obtaining Portugal Golden Visa
The government took this step to redistribute the budget and develop the real estate market in sparsely populated areas.
As for the benefits of the Golden Visa, they remain the same and the investor will be able to use them to the fullest.
Benefits of a Portuguese Golden Visa:
- Straightforward and flexible investment requirements
- Extremely low minimum stay requirements – 7 days first year and 14 days following periods of 2 years
- Possibility of Permanent Residency after 5 years and nationality after 6 years
- No limitations on ownership of the selected investment
- Residency applications quickly processed
- Fully extensible to family members (with no further investment requirements)
- Freedom to travel to all European countries members of the Schengen area
- No limitation on subsequent investments or employment opportunities
- Very limited number of documents required
- Access to all Portuguese Public Services, including health and education
Among other things, Portugal will provide cash incentives to companies and individuals “who relocate to the interior of Portugal, in an effort to counter depopulation of interior areas of the country” writes businesslive.
As for the changes, they will not be retroactive. That is, now the investor still has the opportunity to apply for a golden visa under the old rules.
