Portugal Delays Golden Visa Changes Until 2022

PORTUGAL DELAYS GOLDEN VISA CHANGES UNTIL 2022 https://www.riftrust.com/news-blog/portugal-delaysgolden-visa-changes-until-2022/

◦ In a surprise announcement, the Portuguese Government has confirmed the sweeping changes to the popular Golden Visa programme will now be delayed until 1st January 2022.

◦ The original proposal had changes being implemented on 1st July 2021, but with the new announcement, applicants will have an additional 6 months to apply under the current regulations. As such, real estate purchased in Lisbon, Porto and the coastal areas like the Algarve will still qualify for the Golden Visa until the end of the year.

◦ The changes are intended to encourage residential property investment inland away from the major cities. However, it is believed that commercial property will still qualify in Porto and Lisbon such as the rehabilitation into hospitality projects at the €350,000 investment level and €280,000 real estate rehabilitation into hospitality projects in the non-urban areas.

For applicants unable to proceed this year, on 1st January 2022 the minimum investment thresholds will be raised as follows: ◦ The acquisition of residential property with a value equal to or over €500,000 and the rehabilitation of such properties at the €350K/€280K option will only be allowed when the dwellings are located in the Autonomous Regions of the Azores and Madeira or inland territories (outside Lisbon, Porto and Algarve) ◦ Capital transfers equal to or greater than €500,000, for the acquisition of investment units in investment funds (Venture Capital Option is increasing from €350K); ◦ Capital transfer in the amount equal to or higher than €500,000, which is applied in research activities developed by public or private scientific research institutions, integrated in the national scientific and technological system (Donation Option);

RIF Trust's COO David Regueiro welcomes the announcement, “many of our clients were feeling rushed with the July deadline given the state of the global pandemic. The additional six months is already being well received with our clients from around the world. RIF Trust has a wide range of qualifying €280K, €350K and €500K real estate options for clients to choose from.”

For more information on the Portugal Golden Visa, please contact us today.