Portugal has become a primary migration destination in Europe. The demand for the Portugal golden visa has multiplied owing to the announcement about the upcoming changes in the program. By August 2021, more than 90% of golden visas were issued against real estate investment – 205 out of 228 residence cards were issued for property investment.
As 2022 comes closer, the surge for the Portugal investment visa is visible. The rules will change, limiting the investment options and making the existing ones a little more expensive. Therefore, it is the right opportunity for you to invest in the program and avail the benefits in the remaining 4 months of 2021.
Time is closing in, and the applications for the Portugal residency by investment program are increasing day-by-day. It makes sense to hire the best Portugal visa consultant for the golden visa and get your investment visa in no time.
This article will highlight the changing rules for investors in 2022. We will focus on the real estate investment changes & imitations and the new rules for the capital investment. We will also highlight the aspects of the Portugal golden visa program that remain unchanged. Our aim is to give a clear view of the changes so that you can make an informed decision.
Portugal golden visa: new rules for real estate investment
The biggest change that has arrived is in real estate investment. Investors can no longer invest in coastal cities like Lisbon, Porto, and Lagos. They cannot buy property in this region and get a permanent residency by investment in Portugal.
The new rules for the Portugal golden visa program state that you can buy property or invest in real estate in the inland cities like Azores, Madeira, and others. The primary aim is to boost the development of these regions and bring in more investment. It may lead to lower rental income and less liquidity for investors when they want to sell their properties.
The investment amount for the programs will remain unchanged. You can invest €280,000, €350,000, or €500,000, and purchase property based on different criteria. There are multiple other investment options available if investors are open to invest in other funds or research and development of national heritage projects. Many people consider the €500,000 plan as it gives them the flexibility to purchase any kind of real estate and get Portugal residency by investment for themselves and their families.
Portugal golden visa: new rules for capital investment
Another type of investment projects that enable investors to get their Portugal citizenship through investment is the capital transfer and investment in venture capital or other types of funds.
The minimum investment amount of the capital transfer will increase from €1 million to €1.5 million. The increase in this bank deposit amount poses several challenges for investors who might not welcome the move.
Apart from this, the new rules also state that the minimum investment in venture capital or other funds, scientific research, and existing business that creates 5 jobs, will increase from €350,000 to €500,000. It is one of the biggest changes in the Portugal residency through investment program as many people invest in an existing business to get good returns on their capital and settle in Portugal to expand their business overseas.
The investment for the preservation and restoration of cultural and heritage buildings will remain unchanged.
Investors have until 31st december, 2021 to take advantage of the old regime for the Portugal investor visa. They should carefully select the program and then make the decision as quickly as possible. The increasing number of applicants may present a challenge as you delay the process of applying for the golden visa, Portugal.
Portugal investment visa: what to expect and what to do
So what should investors expect in such a scenario? The biggest change that will come is that the investment in inland regions would increase, bringing in more opportunities for people who couldn’t invest earlier. While the changes receive criticism and negative reviews from investors, the government is using these changes as a way to boost the economy of the inner regions and bring them to a good stage of development.
Since the interior regions will now receive more investment, they will develop as a result. It will also lead to good returns in the future in any kind of property investment.
What should investors do? You should not wait for the next year and take advantage of the old regime as soon as possible. If you want to have a lifestyle of relaxation near the beaches of Porto and Algarve, then this is the last opportunity for you. The application and acquisition process for the Portugal residency by investment program takes time. Therefore, you must apply now and wait to receive your permanent residency by investment in Portugal.
The application takes around 3-12 months for the approval of the PR by investment in Portugal. After 5 years of living in Portugal, you are eligible to apply for citizenship in the country.