New Golden Visa rules to come into force on the 1st of January 2022

New Golden Visa rules to come into force on the 1st of January 2022

It was published, on the Official Gazette, Decree number 14/2021, of February 12th, which modifies the legal system of entry, stay, exit and removal of foreign citizens within Portuguese territory. This change limits the issuance of ARIs, better known as Golden Visa, within the metropolitan areas of Porto and Lisbon and the Coastline CIMs which are excluded from this regime in terms of housing real estate investments. Also excluded seem to be tourism, commerce and service real estate investments.

The acquisition of buildings for € 500.000 or more and the acquisition and execution of urban renewal works, for € 350.000 or more, for housing, are still allowed within this regime, but only when located in the Autonomous Regions of the Azores and Madeira or the interior of the country, identified in the annex to the decree number 208/2017, from July 13th.

With this change, there is also an increase in the amounts which involve «investment activity», so that now the amounts are as follows: capital transfers of € 500 000 or more, applied on investigation activities developed by public or private scientific research institutions, integrated within the national scientific and technological system; transfer of capital for € 500 000 or more, to be used in the acquisition of investment fund units; transfer of capitals for € 500 000 or more, to be used in the constitution of a commercial society headquartered in national territory.

The new regime comes into force on 1st of January 2022 and is applicable towards all ARIs requested after coming into force. It is clear that the new regime «does not harm the possibility of renewing the residence permits», nor «the possibility of concession or renewal of residence permits for family reunification», if the ARI was issued in accordance with the legal regime applicable until the coming into force of the new regime.

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