Is it the end of Golden Visa Program in Portugal?

According to Prime Minister António Costa, the Portuguese government is currently discussing the future of the Golden Visa program.

He was speaking to journalists at the end of a nearly two-hour visit to the Web Summit exhibition area and was asked about the new nomad digital visa, as well as other immigration visas in the country.

“There are programs that we are currently re-evaluating and one of them is the golden visa , which, probably, has already fulfilled the function it had to fulfill and which at this moment is no longer justified”, stated the leader of the executive, having to the on his side the Minister of Economy, António Costa Silva.

According to Portugal news "Between October 2012 (start of the program) and September 2022 (last month counted), 11,180 foreigners obtained a golden visa (ARI), to which 18,368 family members joined, totalling 29,548 according to data from the Foreigners and Borders Service (SEF). Most were attributed to Chinese (5,194), followed by those from Brazil (1,137), Turkey (530), USA (483) and South Africa (474).

Almost 90% of the €6.6 billion invested in the country (€5.9 billion) went into real estate."

Though, this is not an official announcement, that the program will end, we strongly recommend all interested investors to proceed this year with their applications.

As we see with previous changes in the program, they don't affect the old investors. For example, everyone who bought properties in Lisbon before 2022 can still renew their visas.

If you have any questions or would like to start your Golden Visa process and find the right investment, DRP Advisers team will be happy to assist you.

Contact DRP Advisers for more information about relocation, Golden Visa and real estate in Portugal.

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