Suspension of golden visas in Lisbon and Porto approved

Suspension of golden visas in Lisbon and Porto approved

The measure was approved with the favourable votes from PSD (Social Democratic Party) and the votes against of Bloco de Esquerda (Left Block) and PAN (People Animals Nature), whose proposals to completely suspend the program were overturned, according to DV.

The goal of this measure is to reinforce investment in lower population density areas of the country, to foster urban renewal and to alleviate the real estate pressure in the urban centres. It is no longer possible to obtain a golden visa by acquiring real estate in Lisbon, Porto and the coastal intermunicipal communities. Golden visas will only be issued for investment in the intermunicipal communities within the interior and the autonomous regions of the Azores and Madeira.

It should be noted that the golden visas which were already issued, will continue to be renewable under the current regime and that the issuing and renewal of golden visas for family reunification will not be affected.

The increase of the minimum investment amount to create companies and jobs was also approved.

 

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