Portugal’s Golden Visa Scheme began in 2012 and has proven to be one of the best residency by investment programs in the world. In the last 8 years alone, Portugal has been able to bring in more than 5 billion euros into the economy helping it to become more financially stable.
Focusing on individuals living outside of the EU, the Golden Visa provides them with a way to live, see and travel through the Eu freely with no limitations on visiting licenses or short stay visas.
The most popular investment choice for foreign investors is to buy a property in Portugal and in low density areas, the minimum amount required is even smaller making it more accessible for many, however, with the recent changes time is running out for those wanting to get the Golden Visa.
All applications up to the 31st June, 2021, will be accepted and acknowledged under the original scheme but moving forward areas such as Lisbon, Porto and potentially the Algarve will no longer be valid for the Golden Visa.
On the flip side, as the U.K has left the EU due to Brexit, British citizens will now be able to apply for the Golden Visa enabling them to obtain residency in a European country if they choose.
In order to obtain the Golden Visa, foreign investors must buy a property for the minimum amount of 350,000€ for a property more than 30 years old or 500,000€.
For low density areas, investors can spend even less as it is 280,000€ for a property more than 30 years old or 400,000€ with the latter being the more popular option among international property buyers.