The Portuguese authorities have finally released the details on the upcoming changes to the Golden Visa regulations (Decree Law 14/2021, of 12th February).
Initially, it should be highlighted that such amendments will become effective on 1st January 2022. Until then, the existing rules and requirements remain the same. It should also be noted that the rules are clear to establish that whoever submits their applications until 31st December 2021 will have the same grandfathered under the current regulations and requirements in force.
In accordance with the details now released, the main changes will be as follows:
Property Investments: Minimum amount required remains the same – €500,000 and €350,000 (for urban renovation) but only in certain qualifying areas (interior areas)
Capital Investment: Minimum amount required of €1.5 M (previously €1M)
Investment Funds: Minimum amount required of €500,000 (previously €350,000)
Job creation: Minimum amount required of €500,000 + 5 new jobs (previously €350,000)
Science and Research Activities: Minimum amount required of €500,000 (previously €350,000)
Other categories: No changes
It should be noted that the changes to in the property category will only apply to residential properties.
As such, it will remain possible to invest in Lisbon, Porto and in all other areas in non-residential properties, such as commercial, offices, serviced apartments and others.
Please contact us for any additional information that may be required.
Edge International Lawyers
Following our previous articles on the recent changes to the Portuguese Law of Nationality, we can now inform that the President of Portugal has now signed off the decree from Parliament that approved the said changes. This was the final act in the legislative process and consequently the law will now be published in the official gazette and become effective.
Residency application time will count for the 5 years needed for nationality
Following our previous article on the changes to the Nationality Law in Portugal, we can now inform that the Portuguese Constitutional Court has just decided, by majority, that such changes do not raise any constitutionality issues.