DUBAI, UAE, Feb. 17, 2021 /PRNewswire/ -- In an unexpected announcement, the Portuguese Government has now confirmed that the comprehensive changes being made to the country's ever-popular Golden Visa program will be postponed until 1 January 2022.
The news comes as a welcomed surprise as it now affords applicants an additional 6 months to take advantage of the current Residency by Investment offers. Furthermore, these amendments to the program will not affect Golden Visa renewal applications, nor any existing applications submitted before 2022.
There has never been a better time to take advantage of the fantastic benefits afforded by this Residency by Investment option. If you have been waiting for the perfect opportunity to apply to the Portugal Golden Visa program, then this is your sign to do it now before the new changes come into effect.
The latest changes being made to the Portugal Golden Visa Program has garnered much talk among potential investors, who are keen to learn more about the amendments and the effects they might have. As of 1 January 2022, the following changes will take place:
- Purchasing a residential property as a real estate investment of EUR 500,000 or for restoration of EUR 350,000 or EUR 280,000 in a low-density area, will only be applicable in the Inland Territories, Azores and Madeira.
- From 1 January 2022, no residential property in Lisbon and Porto will be considered applicable for the Golden Visa program, but will still be offered on commercial properties.
- The 20% price reduction on residential properties in need of restoration in Lisbon and Porto will no longer be available. However, it will still be offered on properties used for non-residential purposes.
- A transfer of capital as the qualifying investment for a Golden Visa is increased from EUR 1 million to EUR 1.5 million.
- Investments in research activities will increase from EUR 350,000 to EUR 500,000.
- The acquisition of participation units in investment funds will increase from EUR 350,000 to EUR 500,000.
- The capital amount needed to invest in a commercial company and create at least 5 jobs will increase from EUR 350,000 to EUR 500,000.
Learn more about the changes being made
Savory & Partners - a leading Citizenship and Residency by Investment firm in the MENA region - hosted a live webinar in collaboration with Gulf News - the main news outlet for the United Arab Emirates and highly respected media platform in the Middle East - last week to discuss these important changes and updates. Those who attended the webinar were treated to key insights and informed outlooks provided by an experienced panel of immigration and real estate experts, as well as a forecast of what these amendments mean for those seeking residency in Portugal.
Luckily, if you missed the live webinar the first time around, you can still view the entire recorded discussion and gain the same valuable knowledge necessary to navigate the Golden Visa Program.
We, here at Savory & Partners, are proud to have been a part of this insightful webinar that is sure to provide the utmost clarity and understanding on what these amendments are and the impact they will have on the Portugal Golden Visa program.
Meet the expert speakers
Jeremy Savory | CEO & Founder of Savory & Partners
Named one of Arabian Business Magazine's "40 And Under" most influential young business leaders in the MENA region in 2018, Jeremy Savory has only continued to build on his impressive success in the immigration industry. Heading up one of the world's leading high-net-worth citizenship by investment firms – with a spotless 100% success rate – is no small or easy feat. This coupled with his vast experience and commitment to improving upon the due diligence and governance in the citizenship by investment industry is the perfect foundation to provide the necessary commentary on the changes to the Portugal Golden Visa program.
Duarte Norton dos Reis | General Manager of the BWA Group
With an impressive career in the real estate industry, spanning nearly a decade – culminating in the General Manager position at the real estate development company, BWA Group – Duarte Norton dos Reis has a wealth of knowledge and expertise to share on the subjects of real estate ventures and yearly forecasts.
Christian Henrik Nesheim | Founding Editor of IMIDaily
Christian Henrik Nesheim is the founder and editor of Investment Migration Insider, also known as IMIDaily, the leading source of intelligence for the Citizenship and Residency by Investment industry. Nesheim has well-rounded insight into every aspect of the immigration industry and his contribution to this panel is invaluable.
What's on the agenda?
This webinar on residency and citizenship in Portugal aims to help potential and current investors understand the upcoming changes being made, as well as to answer all queries on the topic and discuss the optimal route for those seeking to apply to the Golden Visa Program. In addition, the benefits that come along with investing in Portugal will also be covered by the panel.
The key topics that were addressed during the webinar are:
- What makes Portugal the most attractive EU destination amid the pandemic?
- The details of the Golden Visa program and its success to date.
- Updates on new government pricing, as well as 2020 data and trends.
- Overview of 2021 real estate market and forecasts for the year ahead.
View our webinar
Learn everything you need to know about the amendments being made to the Portugal Golden Visa program by clicking the link below:
Or visit our page to learn more about the Portugal Golden Visa Program
About Savory & Partners
Savory & Partners is a long-standing and well-respected authorized agent that specializes in helping high-net-worth individuals secure citizenship through investment or Residency by Investment for themselves and their dependents.
SOURCE Savory & Partners