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published on 18 February 2021 | reading time approx. 1 minute
The Portuguese Government has proposed new changes to Residence Permit for Investment program (ARI), which is known as Golden Visa.
Amendments to the ARI were approved Friday, 12 February 2021, but will only enter into force on 1 January 2022. Thiseans that Golden Visas will still be possible to obtain in the metropolitan areas of Lisbon and Porto, and along the country’s coastline, until the end of December 2021. Afterwards, Gold Visas will only be possible in the inland regions, and in the autonomous regions of the Azores and Madeira. The aim of this amendment is to promote investment by foreigners in low-density regions, particularly in urban regeneration, cultural heritage, activities of high environmental or social value, productive investment, and job creation. The amendments are without prejudice to ongoing processes. The rules governing the granting of Residence Permit for Investment, in force from 8 October 2012, enable third country nationals to obtain a temporary residence permit to conduct business activities with visa waiver to enter national territory.
The beneficiaries of ARI / Golden Visa are entitled to:
This decree-law changes the legal scheme for the entry, stay, exit and deportation of foreign citizens from the national territory.
With this decree-law, there is an increase of the amounts involving "Investment activity". “Investment activity" is any activity carried out personally or through a company which leads to the realisation of the transfer of capital and for a minimum period of five years.
Therefore, the following values will now be considered:
The acquisition of property with a value equal to or over 500,000€ is only allowed when the dwellings are located in the Autonomous Regions of the Azores and Madeira or in inland territories.
The decree-law enters into force on 1 January 2022.
Filipe Lobo d’Avila
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