Portugal has announced breaking changes to its golden visa scheme which was operational since Oct, 2012. After 8 years of running the scheme and raising over 5 billion euros, a golden window of opportunity for property buyers in Lisbon, Porto and Algarve regions will remain open only until Dec 31, 2021.
The Decree Law No. 14/2021 sets these important amendments to the Portuguese golden visa scheme. From Jan 1, 2022, it will no longer be possible to buy residential properties in Lisbon and Porto including Algarve region. All Golden visa investments will be shifted to inner regions of Portugal plus Azores and Madeira.
Please take a note of new rules that will apply from Jan, 1 2022
New properties
Non-residential Commercial properties:
- General rule: €500,000
- Inner regions Low-density territories: €400,000 (20% Govt discount)
Residential properties:
Only possible in the Inland Territories, Azores, and Madeira: €500,000
Rehabilitation properties
Non-residential commercial properties:
- General rule: €350,000
- Low-density territories: €280,000 (20% Govt discount)
Residential properties:
- Inland Territories, Azores, and Madeira: €350,000
Portugal’s distinct advantages
Portugal has number of distinct advantages compared to other golden visa programs in Europe. There is a reason why Portugal is really popular.
- Proximity to US, UK and Canada mainland with excellent flight connections
- No residency conditions (2 week per year)
- Path to EU citizenship with less strict residency conditions.
- Real estate prices resisted covid downtrend continues to expand.
- No inheritance or estate taxes (benefits children and family members)
