The new changes which were, once again, extended from July 2021 to January 2022 are meant to exclude Lisbon and Porto from the Golden Visa programme, where the volume of capital is just enough, and rather favour low-density regions as a residency by investment option, focusing on the territory of the Intermunicipal Communities of the Interior, as well as the Autonomous Regions of the Azores and Madeira. These changes come into force in January 2022.
In the beginning of the year, the Portuguese Government had already introduced a deadline for the changes to come into place in July 2021. This is when Hong Kong buyers were hesitant to commit as they felt they may not have enough time to do the transaction and then fly to Portugal to complete the necessary documentation. Gladly, the extension removes this barrier and investors are now able to invest in the main cities until January 2022. Better still, at Portugal Homes, we help investors secure their investments even if they’re overseas. Learn more about how our After Sales services can help you take care of your property whilst you’re away.
All in all, these changes mean that rather than allocating €500 million or €350 million into the scheme in Lisbon and Porto and other central cities, investors can gain residency by buying a property in a low-density region for as little as €400k or €280k.
It becomes important to mention that despite the pandemic, in May 2020 alone, the Golden Visa programme recorded an incredibly high income, heavily compensating the first third of 2020. Statistics released by SEF show that in a single month, foreigners invested over €146 million, bringing Portugal back on track for a statistically normal year. The scheme’s performance remained on the positive side of the spectrum, and, once again, the Golden Visa programme proved its value for the Portuguese economy. In fact, the Portuguese Golden Visa remained unaffected despite the pandemic as it motivated many people to re-evaluate their personal circumstances and lifestyle.
Watch the video below produced by CNBC and The Worldfolio, where David and Gary discuss the Portugal real estate market, and the country as a safe haven for incoming investors to take advantage of the country’s generous Golden Visa programme.
If you’re an investor looking to purchase a Golden Visa in Portugal, contact Portugal Homes’ team of experts and we will address any queries you might have, giving you the best advice to move forward with your process.
We have had the privilege to successfully help clients from over 35 countries, providing them with the best eligible properties for the Golden Visa scheme. See all our Golden visa properties here!
Portugal Homes has very experienced and knowledgeable professionals working with some of the most established and reputable developers Portugal has to offer. Our vast experience allows us to guide you through the best investment choices.
Whether you want a holiday home or an investment property, we select the best units for your profile and take care of all the process from start to finish. Even after the sale! Our After Sales services assume the responsibility of furnishing your property at your taste, taking care of the property in your absence, managing the rentals if you wish to rent your property when you’re not in Portugal and so much more!
To learn more about the Portuguese Non-Habitual Resident Program and our After Sales services, please fill the form below.
So far it has been great. Simon is very knowledgeable and friendly.Loay El Abiad - Investor from Saudi Arabia
It's fantastic how Ryan had complete knowledge regarding Lisbon and dealt with us in a great manner.Akbar Ali - Investor from Pakistan
Ryan is very professional, but also friendly and knowledgeable about the Golden Visa market. He was also flexible as travelled from the Algarve to meet me in Lisbon to stand in for 1 colleague at short notice.Investor from UK
Portugal Homes did a great job keeping me up to date with progress on my new home construction purchase by providing regular and comprehensive reports. This helped to ease anxieties about doing a home purchase in the midst of a global pandemic.Investor from the USA
Although through Zoom, we established great confidence in George's integrity. [It was] important for us to have confidence in the staff's ability to feel aligned in views.Donald Collie from Australia
The process was very quick and clear. I got all the information I needed in the first hour. The experience was perfect.Tomoko Inoue from Japan