The Golden Visa Programme launched by the Portuguese Authorities in October 2012 is a fast track for foreign investors from non-EU countries to obtain a fully valid residency permit in Portugal ("Golden Visa").
Under the Golden Visa programme, non-EU citizens simply need to carry out one of the investments set out in the law to qualify to obtain a residency permit in Portugal. This residency permit will allow the investor to enter and/or live in Portugal and to travel freely within the vast majority of European countries (Schengen space).
Aimed at attracting foreign investment to Portugal, the Golden Visa is a very straightforward and flexible programme, with simple and clear legal requirements. With extremely reduced minimum stay requirements, the Golden Visa is clearly one of the most attractive residency programs, all over the world, for investors.
Changes to the 2020 state budget
After a vote in the Portuguese parliament on February 5, proposed budget changes mean that the ARI (Autorização de Residência para Atividade de Investimento) will now limit eligible investments to areas in the interior of Portugal, and will exclude the big urban centers of Lisbon and Porto. The amendments to article 90º A of the Law no. 23/2007, of July 4 are still awaiting ratification (until 31 December 2020) which means it will be some time before the Portugal Golden Visa new rules apply.
If the proposed change are approved by the Portuguese government it is likely they will come into effect in the second half of 2020. Investors who have already obtained the Golden Visa with real estate purchases in Lisbon and Porto will not be affected. The Portugal Golden visa new rules las will not jeopardize the possibility to renew residence permits that have already been granted. Nor will it affect the issuance of renewal of residency permits for family members of investors through the family reunification program where the investor already holds a Golden Visa.