Golden visa limitation approved for Lisbon and Porto

Golden visa limitation approved for Lisbon and Porto

This initiative was already included in the State Budget for 2020, through a legislative authorisation which included not only the Porto and Lisbon urban areas, but also the entire coast. The idea is that investment be directed towards other areas of the country with lesser density, namely the countryside.

According to DV, the measure was approved now, but will only come into force in July 2021, so as to allow a transitional and adaptation period. «This regime includes a temporary period during 2021 and 2022 when the amounts allowed will increasingly rise as the possibility of applying them on the Metropolitan areas is reduced, and will fully come into force on the 1st of July 2021», clarified the Presidency Minister, Mariana Vieira da Silva, quoted by the same source during the briefing which followed the Council of Ministers.

The Authorisations for Investment and Residence of foreign citizens are issued when certain types of investment are carried out, such as capital transfer, creation of jobs, or real estate investment above 500.000 euro, which ought to be maintained, but become restricted to the autonomous regions of Madeira and Azores.

 

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