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Golden Visa in Portugal Programme to Fund Affordable Housing
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On Tuesday, June 4, 2024, António Leitão Amaro gave a telephone interview to Catarina Demony and Patricia Vicente Rua. Leitão Amaro is Minister of the Presidency in Portugal and Demony and Vicente Rua are Lisbon-based Reuters reporters. This interview focuses on the Golden Visa in Portugal financing affordable housing.
Golden Visa in Portugal Overview
The Portugal Golden Visa has been available since October 2012. To give you an indication of how much it has contributed, let’s look at SEF stats that reveal over €7.3 billion being raised up to the end of September 2023. The Serviço de Estrangeiros e Fronteiras precedes the current Agência para a Integração Migrações e Asilo (AIMA).
Real estate purchases contribute almost €6.5 billion to that €7 billion+ figure. Yet the property option disappeared at the end of that month. Now, the minimum €500,000 venture capital fund investment is one of the most popular routes to this Residency by Investment.
Launch of Solidarity Visas
In the telephone interview, Leitáo Amaro explains to the journalists that existing Golden Visa in Portugal investment options will remain. Two new solidarity alternatives will appear, however. These will:
- Build affordable homes that locals can buy or rent
- Construct accommodation for needy migrants or fund projects assisting with integration
The Minister of the Presidency indicates that these options will fall below the €250,000-€500,000 threshold. However, the exact pricing is yet to be set.
The Green Perspective
Jon Green is our Portuguese Residency by Investment specialist. He welcomes the clarity the news brings. “The more transparent the world of investment migration is, the more accessible it becomes. When you can physically see the benefit your investment brings to a country, it makes you more likely to choose that programme over others.”
“Rightly or wrongly, demonstrators linked housing issues to the Golden Visa in Portugal. These solidarity visas will improve the image of Residency by Investment in the country.”
How to Invest in Portuguese Residency in 2024
Did you know that after 5 years of Portuguese residency, you can become eligible for citizenship in the country? This entitles you to apply for a Portugal passport, enabling you to visit 179 visa-free destinations. So, don’t delay and contact Latitude Group, investment migration experts, today.