Portugal Golden Visa changes

Hi, has anyone heard when the dealine will be on property in Lisbon and Porto to get an golden visa. Getting some reports March(Which means you have little chance) Other reports it will take several months?

Also great to here if anyone else has looked into the 350 investment route and has any further information.

Cheers,

Adam

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It’s also a question, what will be considered as a deadline - when one first submits the documents to SEF (preliminary submission) or when the request is approved, or when the interview is done, or when the application is approved…

Uncertainty is the worst part of this dirty political game, and - if it will lasts - the most sure way to kill Golden Visa money stream into Portugal. Clear and straight legal rules are essential for planning any investment, but unfortunately Portugal has Socialists in charge, not investors or businessmen…

Yes it is all changing. Both NHR and the Golden visa rules change in March 2020 so probably already too late for most unless you have a purchase already underway.

Do you have a reliable source for it changing in March? AFAIK there’s no known date yet. For all we know it could change next month or next year.

The only thing that has passed is the budget that opens up for actual policy changes. Exactly what those changes are and when they will be implemented is yet to be seen…

Hello Thomas, what is your opinion with the uncertainty around the implementation of the change? Wait till whenever or go ahead to purchase a qualifying property in March or even April 2020?
Is it not better to go with investment into one of those funds you mentioned? Do you have a recommendation for an investment advisor in Portugal?

It seems the changes may only take effect from next year.

So if you’re looking to buy real estate in Lisbon, Porto, or along the coast, my suggestion would be to do it ASAP. As long as you can submit your application by the end of the year you should be fine.

EDIT: Here’s the actual authorization that was passed, and here’s a translation

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Excellent! Thank you

Indeed ! Most excellent - you have my vote.

It’s too early to tell 100% how this will pan out, but my guess is that if a municipality has a coastline, then the whole municipality will be excluded (no matter the size of the municipality).

i see. thank you. i would think olhao and faro are municipalities with a coastline so any town within those are also vulnerable to the new legislation. doesn’t look good…

Currently in the same position as well. I am considering a purchase in Lisbon but wasn’t sure if I should go ahead. But hopefully this news should calm some nerves:

Hello everyone,

Perhaps a few thoughts which might help. Uncertainty regarding the changes continues to exist, in summary due to the following:

  • Initial reports, including those by the media, were that the changes would affect only the metropolitan areas of Lisbon and Porto. This was then “expanded” to include all coastal areas, even though to the best of my knowledge the proposed text did not change. Perhaps this confusion arose because most GVs have been issued in these two metropolitan areas and so there is an implicit association made which was not correct;
  • Even if the entire continental coastal belt is under discussion, there is mention in the legislation of the intent of the legislation being to favour low-density areas and, while few, there are some low-density areas on the Coast (including the Algarve). This level of clarification needs to still be resolved;
  • As regards the timing, a few versions exist: i) that everyone who has applied and has an application under way is “safe” - I think that can be assumed to be true (I put safe in inverted commas because that does not eliminate future potential changes); ii) anyone applying until March (to coincide broadly with the ratification by the President of the law, expected at the end of February) is “safe” - again, I would agree; and that anyone applying before the end of the year would be safe - this arose as a result of a statement by the economics adviser to the Prime Minister who made a statement that he would like existing processes not to be affected. I read that statement as a wish and not a certainty.
    Therefore I think two things are sensible:
  • If you have a deal available to close before March, close it out;
  • Otherwise wait until the promulgation of the law
  • Consult with a lawyer (four of the lawyers on our panel to whom I have written have not yet responded, which may be telling us something!) after that date, to ensure that the project qualifies.

Importantly, for those who are not interested in the location but want the cheapest access to a Golden Visa, consider the interior Golden Visas which actually start at €280K. We had a project near Viseu which none of the Golden Visa applicants wanted (it comes with several years of guaranteed rental) and suddenly we have had a surge in enquiries about this sort of opportunity.

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Dear Luis,
Thank you for the insight. I am interested in knowing more about the €280K option.
Can you please provide more information.

Hello Luis

I am interested too in knowing more about the interior 280k project and option.

Please send me some more information.

Regards

Anand

Dear Luis,
Please add me to this list too.

Dear Luis

I am interested too in knowing more about the interior 280k project and option.

Please send me some more information.

Regards

Gani

Dear Luis:
Can you also help provide more information about the 280k option to me?
Thanks for your sharing.
Tao

Hello Luis,

Can you please send me the information as well? Thank you,
Jillian

Hi Luis,

Thanks for your helpful post and guess what? I too would welcome information on the €280K option!

Many thanks,

Cathy