Portugal’s Golden Visa program is one of the most popular residence by investment programs in Europe and in the world. The program started in October 2012 and since then more than 10,000 applicants have received their Golden Visas. However, on 1 January 2022, Portugal introduced new changes to its Golden Visa Program, which aims to boost interest in interior areas of the country along with the islands.
These are the real estate investment routes available for the Portugal Golden Visa:
So what’s behind all these Portugal Golden visa changes? The Portuguese government is looking to evenly spread out investments to other areas of Portugal, and is looking to focus its efforts on less populated areas of Portugal. The government also wants to increase foreign interest in urban requalification, and foster investment in activities of cultural heritage with high environmental and social value.
So, what then is the difference between high, low density and interior areas you might ask? Let’s take a look below.
The Portuguese authorities have created a classification system, which determines what areas investors can buy real estate in, and whether a discount applies to the overall investment or not.
When an area is deemed “low-density” it means a 20% discount rate will apply to your investment. Low-density regions are defined as territorial units (NUTS II) and have less than 100 inhabitants per square km or a GDP per capita that is 75% or less than the national average.
While interior areas and low-density areas are two different categories, note that it is possible for an area to be both interior and high-density. If this is the case, then you can purchase a residential property, but no discount will apply.
The Portuguese Golden Visa has been one of the most effective residency investment programs in Europe since its implementation. It’s interesting then to observe how the new Portugal Golden Visa changes will impact the pool of foreign investment. Experts predict that there will be an increase of skilled tech workers and entrepreneurs applying for the Portugal Golden Visa as a means to live and work in Portugal.
Find out about Portugal Citizenship by investment read more
Written by Ms. Nani Yuningsih M.Pd
Picture By Ramdhani Arifin
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