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Europe, News feed Date: 25 September, 2023

Portugal Golden Visa Ending For Real Estate Investors

Portugal Golden Visa Ending For Real Estate Investors

Portugal’s Residency-by-Investment Programme has been one of the most popular ones for HNWIs. Recent Portuguese parliamentary activity, however, has eradicated the residency via property purchase route. Read on to find out more about the Portugal Golden Visa ending for real estate investment.

Our resident Portuguese RBI expert, Ilana van Huyssten-Meyer, confirms that “investors will no longer be able to use real estate to qualify for the Portugal Golden Visa.”

This is due to the Portuguese Parliament approving the Mais Habitação bill without any changes on Friday, September 22, 2023. The President of the Republic vetoed this More Housing draft law in August, but the Parliament again voted to confirm it after the summer recess.

Ilana insists that the Portugal Golden Visa ending for real estate investment “by no means makes the programme less attractive.”

As she elaborates, “the venture capital fund option remains available at a minimum of €500,000. “ Latitude has already observed a number of new funds receiving regulatory approval and complying with new requirements.

Relevant sectors include hospitality, sustainable agriculture, fintech, renewable energy, and solar industries. Yet Ilana does offer words of caution as well as encouragement. These concern the “current backlog and very long waiting times to receive initial residency cards.”

Ilana also points out that Portugal is not the only European country offering Residency by Investment. You can invest in both commercial and residential estate to obtain residency in either Greece or Spain.

Yet, “in Malta, you have to invest in residential real estate as your residency permit is linked to proving that you have a residential address on the island.”

How to Get Residency by Investment

Whether it’s Portugal you’re interested in or elsewhere, we can help you with Residency by Investment.

While the headlines are all about “the Portugal Golden Visa ending for real estate investment”, options for property-focused entrepreneurs remain in and outside the country.

Our expert advisors will guide you every step of the way. Don’t delay. Contact Latitude, RBI specialists, today.

Portugal Golden Visa Ending For Real Estate Investors

Date: 25 September, 2023

Posted in: Europe, News feed