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Portugal has removed two options under the Golden Visa program.

On October 6, 2023, the “More Housing” package was published in Diário da República. According to it, the following options are closed: investments in real estate from €280,000 and €1.5 million for a deposit. The decision comes into force on October 9, 2023.

Important. You can renew existing documents; new applications will not be accepted.

What investment opportunities remain within this program:

  • Creation of at least 10 jobs.
  • Non-repayable investments from €500,000 in science and from €250,000 in culture.
  • Transfer of capital of €500,000 to non-real estate mutual funds.
  • Investment of €500,000 in starting a commercial company (head office must be in Portugal). Plus, you will need to organize 5 jobs there.

Otherwise, everything will remain the same: the status of a “golden visa” holder can be maintained by staying in the country for 7 days a year, and it will be possible to apply for citizenship after 5 years of residence.

The Golden Visa program in Portugal was created in 2012. The number of investments that have entered the country’s budget over the entire existence of the program reaches 6.9 billion euros. Among the main investors in the program were residents of China, Brazil, Turkey, the United States and South Africa.

Plans to abolish Portugal’s Golden Visa have been partly or completely discussed for more than three years. A big role in the adoption of this decision was played by criticism of the program from the EU authorities, which, however, also applies to other EU member states that issue “golden passports”.

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