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Changes in the Portugal Golden Visa Program in 2022: the procedure for investors

September 17, 2021

5 minutes read

Flag of Portugal, the country where the Golden Visa program has changed

The Portuguese Golden Residence Permit Program is the best option for obtaining EU residency. Holders of the Golden Visa have the right to obtain a residence permit in Portugal for the whole family, and, in 5 years, they are eligible to become full citizens of the EU. However, in February 2021, the state government amended the conditions for registration of the Golden Visa. The changes are aimed at increasing the flow of foreign investment in the country's economy and contribute to the development of sparsely populated regions of Portugal.

New rules for obtaining Golden Visa

Updated conditions of the immigration program "Golden Visa" in Portugal is stipulated in the legislative decree of 12.02.2021 № 14/2021 and will enter into force on January 1, 2022. According to the amendments to the law, in 2022, the mandatory investment amount under the Golden Visa program will increase, and the number of regions, available for real estate investments, will be reduced.

Increasing the investment amount

Political pressure forced the Portuguese government to raise the minimum investment threshold for participation in the Golden Visa program. The changes in the migration law affected the following investment options:

  • direct investment in the Portuguese economy will have to be at least €1.5 million (previously€1 million);
  • the minimum investment in shares of venture capital funds and in research activities has been raised from €350,000 to €500,000;
  • in case of investing in new or existing Portuguese companies, the foreigner will have to invest more than €500,000 (previously €350,000) and create at least 5 jobs.

Restrictions on the purchase of real estate

More than 90% of foreign investors choose to buy real estate in Portugal to participate in the residency by investment program. The cost of properties, purchased for participation in the state immigration program in 2022, will not change and will start from €500,000 for new properties and €350,000 for properties built more than 30 years ago or located in areas to be renovated.

Since the Portuguese government aims at investing in less developed areas of the state, regional restrictions on the purchase of real estate for obtaining Golden Visa will be introduced in 2022. Under the new terms of the program, investors will only be able to buy property in the Azores and Madeira, as well as in the interior regions of Portugal, which do not include developed coastal and resort areas, as well as Porto and Lisbon.

Why it's worth applying for the Golden Visa in 2021

The old terms of the program "Golden Visa" Portugal is valid until the end of 2021, so investors should hurry in order to get into the "window of opportunity. If you apply before the beginning of 2022, foreign investors will be able to choose a property in any of the regions of Portugal without restrictions, as well as save a large sum of money before the investment threshold is raised.

How to get a Golden Visa before the prices go up

In order to participate in the Golden Visa program under the old conditions with expanded opportunities, it is worth starting the procedure for obtaining a Portuguese residence permit right now. Keep in mind, that the process may take some time, as it involves several important steps: the preparation and audit of applicant's documents, choosing the best option for investment and making the investment, as well as the submission of the dossier to the Immigration and Borders Service of Portugal.

Migronis is an internationally licensed company headquartered in Lisbon. Being a leader in the migration market, the company provides a fast and reliable way to obtain a Portugal Golden Visa. Qualified lawyers with expert knowledge and experience in solving complex client cases will help you to go all the way from registering an application to obtaining a residency card. Migronis has been successfully operating since 2012 and specializes in RCBI investment programs in 20+ countries. Employees of the company 24/7 solve all issues of clients in Portugal on a turnkey basis, as well as help to obtain a Golden Visa in 6 months or less due to established partnerships with local agencies and government institutions.

The Golden Visa program allows foreign investors to purchase real estate or invest in the development of the Portuguese economy in order to obtain the status of a European Union resident. In order to obtain a Portuguese residence permit in a short time, before the cost of participation in the program rises, and buy real estate in premium locations, it is worth starting the procedure right now.

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