Information updated June 2020 | [ Ссылка ]

Article "Government Changes to the Portugal Golden Visa Program 2020", by David Poston: [ Ссылка ]

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The Portugal Government has recently announced it would review the Golden Visa Program in its 2020 State Budget proposal.

In the light of this announcement, Portugal Homes’ Managing Director and Co-Founder, David Poston, felt it was important to update our partners and investors on the current situation and give his thoughts on the next and best steps forward.

Many of our clients, partners and investors, have reached out to us to learn more about this announcement and what implications it might have to their applications and their Visas.

Nothing has changed yet. What was approved were the discussions about changing the law about the Portugal Golden Visa applications. Everything is being discussed. Parliament will now spend quite some time discussing the possible changes in detail.

One of the possible changes that are being discussed is moving the Golden Visa Investments away from large city centres like Lisbon and Porto to interior areas of the country. But there is no definition yet as to what qualifies as “interior”. We do not know yet if “interior” includes coastal areas, for instance.

And, as Tiago Antunes, Prime Minister’s Assistant Secretary of State said, nothing will change until the beginning of 2021. We will have to wait until the end of the year to know exactly how the Golden Visa Program will change.

For certain, we know these changes are not retroactive. This means that if you have your visa now, you won’t lose it. And if you get your visa before the new law is in place, you won’t lose neither. Our advice, if you’re looking to invest in the Portugal Golden Visa, is to do this in the next 6 months so that your process doesn’t fall right when the government is looking into making the changes.

In regards to the interior regions of Portugal, we will talk about it later in the year, as we need to look into all possibilities and sort out the best investment. But until the Government makes these changes it’s very difficult for us to talk about regions.

In the meantime, we know Lisbon is still a great investment, there is a lot of money coming into the city through several sources, Golden Visa is just a small percentage of it, and the market will still be very strong after the Golden Visa changes. It is still generating great rental returns so it is always a good idea to put your money in and start making a return.

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