Portugal Golden Visa Changes 2022
The long-awaited details regarding the revisions to the Portugal Golden Visa were announced on February 12th, 2021.
Suspended Golden Visa Portugal Changes Took Effect in 2022
Portugal Golden Visa changes, which were submitted in February 2020, gave the government the authority to amend the rules. In February 2021, the Portuguese government announced the rules and the rules came into effect in January 2022.
Portugal Golden Visa Changes 2022
The Golden Visa changes can be examined under two major categories:
- Changes that affect the real estate acquisition
- Changes that affect the minimum investment amounts for other investment routes
While the changes to the amounts have been obvious, it may be challenging to comprehend the limitations on where the property can be purchased. It’s crucial that you familiarize yourself with the phrases below to understand the real estate changes.
- Low-density and high-density areas
- Interior and non-interior regions
The minimum investment required to be eligible for a Golden Visa is specified by the “density.” A region is referred to as “low-density” if it has fewer than 100 residents per km2 or a GDP per capita that is less than 75% of the national average.
You are free to invest in residential or non-residential real estate in “interior areas.” However, you can only invest in non-residential assets in “non-interior”.
Changes to Portugal Golden Visa Real Estate Acquisition Method
The reforms restrict where you can invest in real estate to obtain a Golden Visa. The minimum investment levels remain the same, but the qualifying areas will be limited geographically.
Acquisition of residential property in major cities such as Lisbon and Porto, as well as coastal towns is no longer allowed. However, commercial properties in these locations can qualify you for Golden Visa.
If you’re interested in residential properties, note that only inland and rural or low-density property investments will be eligible.
Below are the investment routes and amounts for real estate investment:
- €500,000 investment in commercial real estate located in a high-density area
- €400,000 investment in any real estate property located in a low-density area
- €350,000 investment in a property that is older than 30 years old (renovation is obligatory)
- €280,000 investment in a low-density area property that is older than 30 years old (renovation is obligatory)
Portugal Golden Visa 2022 Changes to Minimum Investments Amounts
- The amount of capital transfer increased from €1 million to €1.5 million
- The minimum amount for the investment fund increased from €350,000 to €500,000
- The minimum amount for research and development increased from €350,000 to €500,000
- The minimum amount to incorporate a company increased from €350,000 to €500,000; the number of jobs stays at five.
When Did Portugal Golden Visa New Rules Take Effect?
Portugal Golden Visa new rules took effect on January 1, 2022.
|2021 Minimum Amounts || 2022 Minimum Amounts|
|Capital Transfer||€1 million||€1.5 million|
|Real Estate||€500,000 / €350,000 (urban renovation)||Amounts will remain the same. Geographical restrictions will apply.|
|Job Creation||€350,000 incorporation amount||€500,000 incorporation amount|
|Science and Research Activities||€350,000||€500,000|
What Did Not Change?
Despite the Portugal Golden Visa changes, the investment alternatives listed below remain unchanged:
- Starting a business in Portugal and employing at least 10 Portuguese employees
- €250,000 contribution to arts
Also, note that the changes don’t affect those who have made their applications before 31 December 2021. So, if you’ve already made your investment and completed your applications, changes will not affect you.
With the announcement of the changes, Golden Visa holders start to worry if their investments or residence permits will be affected. The short answer is no. The changes will only be applicable to the applications made as of 1 January 2022.
Will Portugal Golden Visa Changes 2022 Affect Previous or Current Applicants?
No. Anyone who applies for a Portugal Golden Visa before December 31, 2021, was not affected by the changes.
Frequently Asked Questions About Portugal Golden Visa 2022 Changes
Has the Portugal Golden Visa scheme been discontinued?
No, the Portugal Golden Visa has not been terminated. The changes have been incorporated into the current plan. There aren’t any significant structural alterations to the program’s features.
Will the modifications have an impact on those who already hold Golden Visas?
No, the changes don’t affect those who have already acquired their Golden Visa. Also, if you’ve completed your application before 31 December 2021, you’ll not be affected.
Can I buy a house in Lisbon and qualify for Golden Visa?
As per the new regulation, a residential property in Lisbon will not qualify investors for a Golden Visa. However, you can still buy a commercial property in Lisbon and apply for a Golden Visa.
Is it possible to make a real estate investment in Porto to get a Golden Visa?
Porto is not eligible for residential property acquisition under the Golden Visa scheme either. However, commercial properties are still eligible.
Has the Algarve region been excluded from the Golden Visa program?
No, you can still choose to invest in the Algarve through commercial properties. However, as with Lisbon and Porto, residential properties have been excluded. But note that some inland cities and towns in the region are still eligible for residential properties.
Can I still invest in funds instead of real estate?
Yes, fund investment is still eligible for Golden Visa applications. The only change is that the minimum investment amount has been raised to €500,000 from €350,000.
Can I still choose the capital transfer method after the changes?
Yes, the capital transfer is still an option under Golden Visa program, however, the minimum investment amount has been increased to €1.5 million.
Do changes affect the application for citizenship or permanent residency after five years?
No, not at all. The changes only apply to the investment routes and locations. There is no change regarding the acquisition of citizenship or permanent residence after five years.
Can I buy commercial property anywhere in Portugal?
Yes, you can. There are no restrictions on where you can buy commercial property. The limitation is on residential properties. Residential properties in Lisbon, Porto, and most of the coastline aren’t included in Golden Visa eligible areas.