by buymeprestige 
Golden Visa, launched in October 2012, remains an excellent option for those who wish to live in Portugal, which is a country with high levels of security, education, health, a favorable economy, and great development potential. (See here 12 reasons to choose to live in the Algarve)
In this article, we explain how the program works, the requirements, benefits, and what will change in 2021.
What is Golden Visa Portugal?
Officially called the Residence Permit for Investment Activity, it is a type of residence visa in Portugal, which grants authorization to foreigners, who prove the realization of certain types of investment, to live in Portugal.
The Gold Visa allows that, when maintaining the investment for a minimum period of 5 years, you have the right to apply for nationality in Portugal. The program thus allows you to live in Portugal or make investments only in the country.
How the Golden Visa Program Works in Portugal:
The program, dedicated to investors, can be carried out in real estate investment or in other sectors. The main difference in relation to the investor visa is the value of the investment, starting at 250 thousand euros. Thus, to qualify for Golden Visa, it is necessary to meet the investment criteria established by the Portuguese government.
To Acquire a Visa, You Must Meet One of the 8 Investment Conditions:
1. To acquire real estate with a value equal to or greater than 500 thousand euros;
2. Acquire old real estate, in urban rehabilitation areas, for a total amount equal to or greater than 350 thousand euros;
3. Transfer capital equal to or greater than 1 million euros;
4. Create at least 10 jobs;
5. Invest in scientific research;
6. Invest in artistic production, preservation, or conservation of cultural heritage;
7. Invest in investment funds;
8. Invest in a commercial company based in Portugal.
Benefits of the Gold Visa Program:
The holder and beneficiary of the residence permit for investment (“ARI”) or “Golden Visa”, has the right to:
· Living in Portugal;
· Exercise a professional activity in Portugal;
· Move freely, without a visa, through the countries of the “Schengen” area, namely: Germany, Austria, Belgium, Denmark, Slovakia, Slovenia, Estonia, Spain, Finland, France, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Norway, Czech Republic, Netherlands, Poland, Portugal, Sweden, and Switzerland;
· Obtain a Permanent Residence Authorization after a period of 5 years, with no validity limit, being subject only to normal renewals similar to a national citizen card and without any minimum stay requirement;
· To be able to acquire Portuguese citizenship, after 5 years of the temporary residence permit (Golden Visa), according to the applicable legislation and in force;
· Enjoy the right to family reunification.
Golden Visa: What Changes in 2021
In the 2020 State Budget, changes to the Golden Visa program were approved, which come into effect on July 1, 2021, in a phased manner.
The transitional period will last until the end of 2022, and during the transition period, those interested in obtaining residence permits in exchange for real estate investments in the metropolitan areas of Lisbon, Porto and the coast can still continue to benefit from the current regime.
What will happen is that, during this period, the amounts required from investors to access Gold Visas will be progressively higher, while reducing the possibility of applying to metropolitan areas.
In short, the two main measures adopted are:
1. Restriction of the real estate investments required to grant Golden Visa to the territories of the interior of the country, Madeira and the Azores. Real estate investment in Porto, Lisbon, and Algarve will not be allowed to grant Golden Visa;
2. Increase in the minimum investment value and in the number of jobs required to grant the Visa.
Which areas of Portugal will be reached by limitation?
Lisbon, Porto, and the Algarve Region are the areas that will be directly affected by the Gold Visa limitation. The decision was made because these were the regions that received the most foreign investment during the program.
As of the change, the visa will only be granted to those who invest in real estate in areas of the interior of the country. The same goes for the autonomous regions (Madeira and Azores).
However, orders can still be placed during the transition period, despite restrictions. Therefore, if you are interested in purchasing, it is best to hurry up and do the process with a trusted business consultant so as not to run the risk of having your process dismissed.
Do you intend to acquire a Gold Visa?
Contact us here to find out how to purchase your Gold Visa as soon as possible. We have a team prepared to provide you with all the necessary support in the various stages of the process.
