We talked to a representative of one of the open-ended funds we’re considering. He told us that it’s very probable that the ARI program will change soon, in line with what other European countries have done - higher investment thresholds and/or stricter conditions. This could be part of next year’s budget discussions that are taking place now. I wonder if anyone else heard similar predictions. We are just starting the process, and the paperwork just to be ready to sign a contract with an immigration firm is taking a long time.
It’s always getting harder and slower and more expensive. In 2021, I paid 280k euros for renovation real estate in a low density area, that option doesn’t exist anymore.
But remember it’s also in the interest of these sellers to tell you to rush and part with your money.
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Sage advice.
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I wouldn’t suggest going this rout, instead explore the D7 or D8 options (depending on your financial/retirement or carrer situation). It’s far faster, easier and it doesn’t take any legal representation. AND you can hang onto your hard earned $$$$!
Definitely better if your plan is to move to Portugal close to full time. If your goal is citizenship without necessarily living in Portugal, the ARI is still the way to go. Just don’t have any expectations of a fast process.
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@YRNYC I haven’t heard any specific rumors at the moment, but you never know.
Though usually you’d know the transition date well in advance (the More Housing initiative under the previous government being the obvious exception, though in the end it also took almost 8 months from when it was announced).
Worthwhile to think long and hard about your goals. ARI is a multi-year pain factory (just ask anyone on NomadGate) and should be a last resort unless you cannot accomplish your goals any other way.
Almost three years after investment, I’m still without a residence card. Because of this, I’m now doing another investment migration program and am considering a third (in other countries).
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Thank you all. Yes, the ARI is best aligned with our goals, so we will have to be patient.
…and accept that PT’s rules of the game could change at any time. And you may or may not be ‘grandfathered’ with the rules/expectations you applied under. Winds of political change + bureaucratic ineptitude will affect your many-year journey.
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This is one of the things that bothers me the most, especially since they have already changed certain rules after we invested, and we still have at least 5.5 years remaining before receiving the citizenship.
For a new applicant, you’re likely looking at a 9-12 year journey. It’s a gamble.
same same… 
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Correct. Best way to think of ARI is that it is a high risk/ high reward move. Reward is the possibility of citizenship with very low residency requirements. The tail risk is that you lose money on your investment and government closes the program before you get citizenship. If that would be an intolerable financial loss, or you aren’t prepared to take legal action to challenge any changes, then ARI is not the best choice. You can trade low residency for lower risk and make use of D7/8 visas. Wealthy foreign investors are always an easy scapegoat for a country’s woes and, no matter what the salespeople say, the temptation will always be there for politicians to shutter the ARI program to placate some voters. We made peace with the fact we might walk away from our golden visa process with nothing. Knock on wood but so far, so good.
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The ARI program is a like one of those shape shifting zombies that you see in bad Sci-Fi movies. You think it looks like this , but then it doesn’t . Then it appears in another form somewhere else.
Caveat emptor !
At minimum try to ensure that the assets you invest are protected, so even if everything blows up you at least get most if not all of your money back.
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“In Lisbon, AIMA is eating the dogs! AIMA is eating the cats and they’re eating the pets…!”
Let’s try to keep this (and other) threads on topic: whether there are rumors that the GV program will change in the near future.
I understand the frustration, especially for those wanting to actually move to Portugal, but there are already several other threads where you can discuss whether or not it makes sense to apply for the program in the first place.