There will be no changes on the regulations related to the Golden Visa category in Portugal regarding the €350,000 real estate rehabilitation into hospitality projects in Porto and Lisbon, and the €280,000 real estate rehabilitation into hospitality projects in the non-urban areas. The rest of most of Golden Visa categories, either the investment amounts are increased, such as the Investment Funds, to €500,000 or they do not qualify any longer, such us the real estate residential investments in Lisbon, Porto and part of the Algarve, as of January 1st 2022. DESCRIPTION OF THE MOST RELEVANT CHANGES The Portuguese government, in order to promote greater territorial cohesion, by reducing the regional asymmetries felt in the national territory, considered necessary to review the housing policy by changing the regime of Residence Permit by Investment, that, until then provided in law 23/2017, to be applied in the following terms: Residence permits for investment that, as from January 2022, will foresee a higher investment value than the one that was currently applicable: Residence Permits by Investment in real estate for residential purpose, the acquisition of real estate for €500,000 and the acquisition for rehabilitation of €350,000 / €280,000 will only allow access to the Golden Visa program outside the cities of Lisbon, Porto and part of the Algarve. Residence permits for investment in real estate for non-residential purposes, maintains the requirements already foreseen in the previous law, keeping the investment amount €500,000 or €350,000 / €280,000 if for rehabilitation – admissible throughout the national territory. The law will be in force on January 1st, 2022. (Decree - Law No. 14/2021 of February 12, issued by the Council of Ministers). We have a trusted network of local professionals working across all the required services that are required for your investment application and to meet the end result. Our applications are prepared and lodged by our team of immigration lawyers specialized in obtaining Portuguese citizenship. The conditions can differ for EU and non-EU citizens and the latter can request personalized counseling from one of our immigration lawyers. We can guide you and assist in the preparation of your immigration visa requirements which needs our continuous support for the period of five years. We strive to achieve the highest possible standards of professional service and success rate towards the Portugal Residence visa on every application that we lodge with the Immigration department. Towards obtaining your EU visa through Golden Visa Program, please contact us at neville@bilimoriaassociate.com or call our office at +91 44 2823 9229 / 4350 8191 / 2822 7127 / 2822 7222 for consultation or an appointment.
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