Yes, for sure 44 is much vaguer than 45
I wonāt be surprised if SEF freezes ARI processing entirely while they slowly figure out what to make of the new law and provide a new set of regulations and instructions to their employees.
If theyāre trying to be efficient, they could pluck out the cases that arenāt real-estate related or quickly jump to the conclusion that existing cases should be grandfathered in. From everything Iāve witnessed, theyāre not trying and have little incentive to.
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The reference to the entrepreneurial visa is clearly a hangover from the draft when they were totally abolishing ARI. Now theyāre not, and theyāve made it clear thereās no retroactivity. So I think this is just a very poor drafting error that hasnāt been corrected as they were focused on the bigger picture. I highly expect that those with applications pending or originally approved under the old rules will continue to be renewed in the same way as those in categories that continue.
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Which made sense when the initial ARI permit was valid 1 year, and subsequent permits valid 2 years.
But during Covid they made the initial permit valid for 2 years too.
So now the card validity and stay requirements are completely out of sync. According to the original regulations, you could stay just 7 days in year 1, 0 days in year 2, and show up to renew your permit while promising you will stay 14 days in year 3!
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my fund is in real-estate. I am worry about my renewal Now
Interesting how literally everyone always says RUSH INTO IT!
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Any updates ?
Hi All. I am in the real estate investment category. Is there any action that needs to be done on my end? My very expensive and well advertised consultant (Henley and Partners) is quite unreliable in guiding properly as it is just an hour ago that I received the mail about these new changes from them. Which I now see have been in discussion here since 5 days. Moreover the mail from Henley was a copy pasta of something which deleted all spaces and was sent as a big chunk of gibberish.
So, kindly, let me know if any action is to be done as a real estate investor from my side.
I think if youāre already invested and have applied, thereās no particular action required. Youāll be treated under New Article 45, which covers approvals for pending applicants in the real estate or capital transfer areas.
You may end up with a different class of visa (D2 rather than ARI), and thereās still text in the law about state agencies needing to āvalidateā your investment, but lawyers seem to agree that wonāt be anything to worry about.
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I thought it was time to change the title of this enormous thread from āThe end of Portugalās Golden Visaāfor real this time?ā to āPortugal Golden Visa - The New Law of 2023ā, so that the casual browser isnāt misled.
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Maybe itās even time to split the thread, starting from where PS proposed what essentially became the final text?
I donāt think it makes sense for someone arriving now to have to scroll through nearly 1200 posts to get to the current discussion.
I dunno, it seems like a good introduction to the ARI to wade through 1200 posts of fear, anger, frustration, and sadness. Prepare new applicants for what is to come! 
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Sounds reasonable - possibly start a new thread with mine of 18th July when I posted the āprovisionalā text which turned out to be essentially the final version?
This part about the new D2 visa for those using old investment types, makes zero sense now they are keeping the GV. The rules have changed before (eg excluding resi property in certain areas from Jan 22), but they didnāt end up with a different type of visa). I suspect this will be tidied up at a later stage and wonāt end up happening.
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I agree it makes no sense. Perhaps itāll get fixed when the Assembly gets round to passing new Regulations to go with the new law.
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But if the law is passed already and just requires ratification by President, how those āsmallā details could be corrected/changed? And all additional regulations, are they needed to be prepared before the new law will be in force?
I have my GV expiring in October and watch with envy how you guys do online renew now. I am afraid that by October the new law will be published, and there will be no regulations yet and I will have to wait for a long time while they decide how to convert us into D2. And even if the conditions could be same and published fast, as it is a new type of visa, there will be no automatic renew for sure. So hello! try to catch the slots in SEF again, and those slots are not opened etc. And the most frightening is some kind of analysis if my ābusiness projectā is suitable. What kind of business project? I do not have one and couldnāt create it fast.
I am so fed up with the whole GV process. With those kind of absurd fees on GV they were taking during all that time, they dare to change the rules for those who are already in the program. How could it be possible at all? Or at least if they do not keep all current holders under old rules, why not to create some kind of transitional period for renewals?
Any idea if this law could be delayed a little? When we expect it to be in force?