Is that good or bad news?
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I think that’s pretty much as expected - of course, after final approval in parliament it gets tossed to the Prez, and then he gets to approve it, send it back, pass it on to the constitutional court, etc.
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I’m hopeful I’ll have my residency card by then, squeak in under the sef rather than get caught in the change over!
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Latest data on final approvals from IMI. Highlights increasing approvals given to UK citizens, and that funds have overtaken real estate for the first time.
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I wonder why that is…
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Wow, 110% china.
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“Digital nomads have no impact on housing market.” yet GVs do. Curious!
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Final vote on July 19?! Will be nice to know the actual changes, hopefully.
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Most of the opposition parties have now submitted amendments to the Government’s drafting on ending the ARI. Frankly quite disappointing. PSD, the main opposition party, seems to accept all the vague and retroactive drafting in Articles 44 and 45, and their main proposal is to extend the ARI to the Autonomous Regions (which presumably won’t be accepted).
PSD (77 MPs) - Extend ARI to Maderia/Azores until end-2026. Otherwise agree government draft
CH (12) - Keep ARI entirely as now
IL (8)- Keep ARI, but remove options to invest directly in real estate. Delete language about entrepreneur visas.
BE (5) - Agree government draft, but move cut-off date back to 16th February
LIVRE (1) - no amendments on ARI
PAN (1) - no amendments on ARI
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Pretty fast reading given the number of papers submitted! I see that Artigo 46 is scratched out from PS requesed modifications… 
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Most of those came out yesterday. The real breaking news is that PS has just published its revised draft. Lawyers are currently studying it, but at first sight, it’s huge:
Instead of scrapping 90-A (the ARI regime) in its entirety, they seem to be just stopping ARIs for those who invest in direct real estate (aside from low-density), and those doing the capital transfer > EUR 1.5m option. It looks like other ARI applications can continue.
The drafting is a mess, and there are unanswered questions, particularly around existing applications and renewals. But this seems like a major climb-down. I’ll update more later.
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Yes, I see that PS has submitted modifications.
They now say Artigo 44: Não são admitidos novos pedidos de concessão de autorização de residência para atividade de investimento previstos no artigo 90.º-A da Lei n.º 23/2007, de 4 de julho, e ao abrigo do disposto e ao abrigo do disposto nas subalíneas i), iii) e iv) da alínea d) do n.º 1 a partir da data da entrada em vigor da presente lei.
A major change!! Agree with you - this removes the 1.5m clause, and the 2 “bens imóveis” clauses.
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Yes, the consensus seems to be:
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The Portugal Golden Visa survives !
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New applicants can no longer buy real estate (or use the large capital transfer route). Instead, the focus will shift to investment funds (whether private equity / venture capital [, or open-ended equity funds like IMGA or BPI Portugal]) - EDIT - not open-ended fund - see my later post below
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The treatment of pending applications and renewals remains unclear. The draft is a mess, but perhaps will be tidied up over the next three or four weeks.
This is all interpretation and speculation at this stage - always rely on your own legal advice.
C19-PS.pdf (346.1 KB)
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It will be great if all the government achieves in their quest to destroy the program is to generate yet another insanely huge flood of applicants.
Maybe that was their plan all along…,
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