From January 2022, new changes to the Portugal Golden Visa program will come into force. Now investments will be directed to the interior and regions of the country.
According to the plan, the changes will come into force on January 1, 2022, and will affect the areas of investment in real estate in the amount of 350,000 euros and 500,000 euros. This is due to the fact that now some of the most popular destinations for real estate investment are Lisbon, Porto, and the coastal regions. According to the country’s new policy, investment in residential real estate will be directed to less densely populated areas and regions of the Azores and Madeira.
Such rules will solve two big problems: the development of the real estate market in the sparsely populated regions of the country and the redistribution of the investments received. This will help Portugal achieve a more balanced environmental and social dynamic.
All applications until December 31, 2021, will continue to be accepted and the changes will not affect residents who renew their residence cards or join family members in the program. Therefore, if you wanted to buy real estate, for example, in Porto, then you should hurry up.
Among other things, the Portuguese government is considering providing cash incentives to companies and individuals who move to the interior of Portugal in order to counter the depopulation of the interior of the country.
Read more about the Golden Visa of Portugal here
Source: news24
