A long-anticipated change for its golden visa program was announced by the government of Portugal. These changes will vary in several categories and will be applicable from the year 2022. Changing from the old policy to the new policy was signaled by the government by July 1st, 2021. After this date the transition period will last for several weeks. However, with the new announcement today, the changes will be applicable by the end of the year 2021.
The changes in the policy reflected two chief features:
- Identifying the areas where investments will be done
- Increasing the investment requirement in some categories.
The amendments in the policy announced today are:
- The science and research activities category: Minimum investment required now is EUR 500,000 which was previously EUR 350,000.
- The property investment category: There are significantly not many changes in this category. The investment required has remained unchanged. However, qualifying for the golden visa thru this stream will be limited to the interior of the country and regions of Madeira and Azores.
- Job creation category: The business should proceed to create at least five jobs and for three years straight and the capital investment required now for this stream has been raised to EUR 500,000 from the previous EUR 350,000.
- Capital investment or deposit category: The minimum investment has been raised from EUR 1 million to EUR 1.5 million.
- Investment fund category: In this stream the minimum investment has also increased from EUR 350,000 to EUR 500,000.
There will be no retroactive effect on the applicants who have already applied before the changes made to the golden visa program. Anyone who has submitted their application the year of 2021 will be subjected to the old rules. The statuses of the application in 2022 will not reflect upon the requirements.