New – and more Restrictive – Requirements for Obtaining the “Go

On the 12th of February 2021 , the Portuguese Government published the Decree Law No. 14/2021 that modifies the Law 23/2007, which approves the legal regime for the entry, residence, exit and expulsion of foreigners from the national territory.

The aim of this modification is the government´s commitment to design a public policy that gives priority to the most vulnerable territories of the country, to the creation of employment and to the urban development and cultural heritage. In order to achieve this goal, there has been a modification of the legal regimen that allows you to obtain an investment visa.

Firstly, regarding the acquisition of the “Golden Visa” by investing in real estate properties, the geographical area where properties can be bought is now limited to rural areas , the interior of the country and the islands of Madeira and Azores. In consequence, and since the 1st of January 2022, the cities of Lisbon and Porto and the Algarve region will be excluded from the “Golden Visa” regime.

Secondly, the Decree Law also increases the value of the investment that will allow you to obtain a “Golden Visa” by transferring capital, research activities, buying fund shares and setting up commercial companies. The increase of the investment value is detailed hereunder:

– Transfer of capital: from 1 million to 1.5 million euros;

– Transfer of capital that applies to research activities carried out by public or private scientific research institutions, integrated into the national scientific and technological system: from 350,000 € to 500,000 €;

– Transfer of capital for the acquisition of investment funds shares: from 350,000 € to 500,000 €;

– Transfer of capital for the setup of a commercial company with headquarters in the national territory: from 350.000 € to 500.000 €.

The regime will entry into force on the 1st of January 2022.

In Goy Gentile Abogados we will inform you of the changes of the legal framework for obtaining a “Golden Visa” in Portugal and we will advise you throughout the entire process of obtaining the Portuguese residence.