Alas, the not so golden news about the demise of the Portugal Golden Visa has been released. The Portugal Golden Visa is Ending. However, it’s not all bad though, investors still have time.
On April 15th, the Portuguese government published the final wording of the “More Housing” bill which included closing the golden visa program among many other reforms. Until now, details of when the program would be closed and who it would affect were unclear. There were some harsh proposals and rumours around what could happen over the last few months, but many are breathing a sigh of relief upon the official news.
Portugal Golden Visa Ending but No Retroactivity:
The original proposal to have a retroactive cut-off date of February 16, 2023 has been scrapped. Investors, developers and legal representatives are surely wiping the sweat from their brow over this decision. Post February 16th investments are secure and clear, these transactions will not be voided. Something many were preparing for. Developers had to add conditional clauses in case golden visa investments weren’t honoured, but thankfully this is not the case.
No 183 Day Residency Requirement:
Current Golden Visa holders and new applicants will convert their golden visa into a D2 Entrepreneurial visa upon renewal. However, there will not be a 183 day stay requirement as proposed in March. Instead, the 7 day stay requirement will remain in place. This was a major relief for current golden visa holders who feared the carpet being pulled out from under them and already made investment terms.
A new era of the cultural investment pathway:
Some speculated a new visa pathway would come into play in the absence of the golden visa. A positive outcome of all of this is the surfacing of investment-based residence permits for investments funding “artistic production and the recovery or maintenance of cultural heritage.” Such investments will require a stamp of approval from various government offices to validate they qualify.
Still time to make golden visa investments:
While the Portugal Golden Visa Ending comes a blow to many eyeing the program as a long term residency solutions, for those ready to proceed quickly it is not too late! The most positive news of all is that investors do still have an open window to invest in a Portugal golden visa. The pathway remains open until the law officially goes into effect which is about 45 days. While that’s a short grace period, it’s a relief there is one at all. This means investors who have their hearts set on obtaining a golden visa nowhere other than Portugal should act swiftly. There’s no time to spare, but it can be done. Especially when you have assistance from start to finish, and that’s where we come in. Check out Lincoln Global Partners portfolio of golden visa eligible real estate and lets lock your Portugal golden visa in before the program ceases to exist.
Portugal Golden Visa Ending Soon – Contact Lincoln Global Partners
Schedule a free 30 minute call with us today , so we can help you beat time and secure your Portugal Golden Visa before the ending of the program. Click this link to book a meeting.