Changes in the Portuguese Golden Visa law will not come into effect until 2021

Last week we published an article on our blog about the changes in the Golden Visa Portugal, because the Portuguese government has restricted the golden visa for investment (minimum € 500,000) in the cities of Porto and Lisbon and their respective metropolitan areas. This change in the law will come into effect from 2021 and aims to promote the promotion of investments in areas of low population density and the poorest, as well as encourage urban requalification in cultural heritage or activities of high environmental and social value.

From the beginning of the Golden Visa Portugal until the end of 2017, 71% of the total golden visas were granted in the metropolitan area of ​​Lisbon and in the Algarve area and only 1% in Porto. As we can see, the bulk of the investment was for the capital, although in recent years investments in Porto have increased due to the high prices of Lisbon.

The measure, that was approved last week by the Portuguese executive, will not be applied immediately. According to the government itself it will be from 2021, so as not to alter the investments that are already underway. Most likely, this announcement will increase investments in Porto and Lisbon pending the entry into force within a year.

Oriol Molas, CEO Orience International