Hi. I was told that in order to buy in high density areas I had to determine my type of investment and sign a reservation letter by July 1st? (I could change my mind later) Was this the case and if so has this requirement been recently waived? Thank you very much
I think there was a deadline of July 1st for online submission of the application which has changed. I would appreciate confirmation of this and when this was changed.
I think now they extended the Golden Visa to Dec 31 2021 to buy in areas of Lisbon and high density areas
Hi @ramin, I wrote the below explanation for some of my clients. Maybe you’ll find it useful. Feel free to contact me via email if you still have doubts.
New rules for Golden Visa Portugal in 2021
In February 2021, the Portuguese Government announced key changes to the Golden Visa which all potential applicants should be aware of. Fortunately, they have introduced a transition period so that people have time to prepare and adjust.
To make it as clear as possible we have split the rules into three time periods:
Now until December 31st 2021
You can still apply for the Golden Visa in Portugal as normal. If you want to secure your Golden Visa now with a lower investment, we highly recommend that you start the process as soon as possible. Please note that not only the investment needs to be made until 31 December 2021, your Golden Visa application must also be submitted to SEF by that date.
New Rules – January 1st 2022 to December 31st 2022
There will be geographic restrictions to those investing in real estate for the purposes of Golden Visa and many of the investment thresholds are increasing too.
The minimum value related to Golden Visa Investment Funds will increase from €350,000 to €500,000
The real estate investment route will remain valid but in the metropolitan areas of Lisbon, Porto and much of the Algarve, the value thresholds will increase to €1 million for the acquisition of a completed property (an increase from €500,000) and properties selected under the renovation route in these regions will have a minimum value threshold of €500,000 including renovation (up from €350,000)
Real estate investments in the Interior Territories Autonomous Regions of the Azores and Madeira will also see a threshold increase to €500,000 for straightforward acquisition and €350,000 via the renovation route.
January 1st 2023 onwards
You will only be able to obtain a Golden Visa through real estate investment if it is carried out in the Interior Territories and in the Autonomous Regions of the Azores and Madeira.
The reported motivation behind these changes is to divert investment into the less economically developed parts of the countries and breathe new life into Portugal’s rural interior and remote islands.
Hey folks, I am trying to manage how much cash I should have on hand for the GV application, for the investment fund route up to getting the first approval. I tried getting this information from prospective lawyers but ended up getting more confused. Can someone with more clarity, outline exactly when these two fees to SEF are due ?
- The analysis fee : 533 euros ( main applicant ) + 83 per dependent
- Approval fee. : 5.3k euros per applicant
Are there any other significant cash outlays besides the investment amount ( load fees included ) and lawyer fees that I should be aware of ? I know banks in Portugal charge an account maintenance fee but AFAIK they are a few hundred euros per year at max.