New Portugal Residency Law Changes: Unveiling the Latest Updates on Golden Visas
Picture this: you’ve been dreaming of moving to Portugal for years. You’ve researched the visa options, browsed countless real estate listings, and planned out your new life in the sun. You’ve finally saved up enough money to make the move, and you’re just about ready to take the plunge. But then, just when you think you’ve got it all figured out, the Portuguese government announces changes to their residency laws. Suddenly, all your plans are thrown into disarray.
As a seasoned expat and longtime resident of Portugal, I’ve seen my fair share of these kinds of changes over the years. And let me tell you, the latest round of updates to the residency laws is a doozy. But fear not! With a little bit of insider knowledge and a lot of perseverance, it’s still possible to make your dream of living in Portugal a reality.
So what exactly are these changes, you ask? Well, in short, the Portuguese government has tightened the requirements for obtaining residency permits in the country. This means that it’s now more difficult to get a visa, especially for non-EU citizens. However, there are still plenty of options available for those who are determined to make it work. From the popular Golden Visa program to lesser-known routes like the D7 visa, there are ways to navigate the new rules and secure your place in Portugal.
But it’s not just about the technicalities of the law. As someone who has lived in Portugal for many years, I can tell you that there’s a certain magic to this country that goes far beyond its legal system. From the stunning coastline to the vibrant cities, Portugal truly has something for everyone. And while it may be a bit more challenging to move here now than it was a few years ago, I firmly believe that the rewards are worth it.
So whether you’re a seasoned expat or a newcomer to the world of international living, don’t let the changes to Portugal’s residency laws scare you off. With a little bit of creativity, persistence, and a healthy dose of optimism, you can still make your dream of living in this beautiful country a reality.
What is the new rule in Portugal 2023?
Portugal has always been a popular destination for expats and investors, and the good news is that it just got even better. Portugal’s residency laws are undergoing some changes in 2023 that will make it easier for foreigners to move to and invest in the country.
What are the changes?
The new rule that will come into effect in 2023 is that foreigners who invest in Portugal will only need to stay in the country for a minimum of 14 days per year to maintain their residency status. This is a significant change from the current requirement of spending at least 6 months per year in the country to maintain residency.
This new rule is part of Portugal’s plan to attract more foreign investment and stimulate economic growth. The country is already known for its favourable tax laws and high standard of living, and this new rule will make it even more appealing to expats and investors.
Who will benefit from these changes?
The new residency rule in Portugal will benefit a variety of people, including:
- Foreign investors who want to benefit from Portugal’s favourable tax laws and economic opportunities without having to spend a significant amount of time in the country
- Retirees who want to spend part of the year in Portugal without having to commit to living there full-time
- Expats who work remotely or have a flexible work schedule and want to split their time between Portugal and their home country
How can you take advantage of these changes?
If you’re considering a move to Portugal or want to invest in the country, now is the time to start planning. Here are some practical tips to help you take advantage of the new rule:
- Research the different investment options available in Portugal, such as real estate, stocks, and bonds
- Consult with a legal professional to ensure you understand the visa and residency requirements
- Consider renting a property in Portugal before committing to buying a home
- Learn about the local culture and language to help ease your transition into life in Portugal
With its favourable tax laws, high standard of living, and stunning natural scenery, Portugal is an excellent choice for anyone looking for a new home or investment opportunity.
What is the new citizenship law in Portugal?
Are you considering moving to Portugal or already living here as an expat? Well, there’s good news – the Portuguese government has recently introduced changes to their residency laws that make it easier for foreigners to obtain citizenship!
What are the new changes?
The new changes make it easier for foreigners who have lived in Portugal for at least two years to apply for citizenship. Previously, applicants had to live in Portugal for five years before being eligible to apply.
Additionally, the new law also allows for children born in Portugal to foreign parents to automatically obtain Portuguese citizenship, provided that at least one of the parents has lived in Portugal for at least two years.
Who is eligible to apply?
To be eligible to apply for citizenship under the new law, you must have lived in Portugal for at least two years and have a basic knowledge of the Portuguese language. You must also not have a criminal record and be able to financially support yourself and any dependents.
It’s important to note that while the new law makes it easier to apply for citizenship, it does not guarantee approval. The Portuguese government will still review each application on a case-by-case basis.
Why is this important for investors?
For investors, obtaining Portuguese citizenship can open up a world of opportunities. Portugal is known for its attractive tax benefits for foreign investors and non-habitual residents, which can make it an ideal location for those looking to invest in property or start a business.
In addition, as a Portuguese citizen, you’ll have the ability to travel, live, and work freely throughout the European Union, which can be a huge advantage for those looking to expand their international business ventures.
Is Portugal Golden Visa ending 2023?
If you’re looking to move to Portugal and you’ve been considering the Golden Visa program, you might be wondering whether this program is coming to an end. The answer to this question is not a straightforward one, as there are some changes happening to Portugal’s residency laws that may impact the Golden Visa program.
Understanding the Portugal Golden Visa Program
First, let’s review what the Golden Visa is all about. This program was introduced in 2012 with the goal of boosting foreign investment in Portugal. Essentially, it allows non-EU citizens to invest in the country and receive residency in return. The program has been quite popular, with over 9,000 Golden Visas issued since its inception.
To qualify for a Golden Visa, you need to meet certain requirements. One of these is making an investment in Portugal. This can be done through a variety of channels, such as purchasing property, investing in a business, or contributing to an arts or scientific project.
Changes to Portugal’s Residency Laws
Now, let’s talk about the changes that are happening to Portugal’s residency laws. In 2020, the government announced that it would be introducing new rules for residency visas. These rules are set to come into effect in 2021 and will impact both the Golden Visa program and other residency pathways.
One of the most significant changes is that the government will no longer allow investment in the metropolitan areas of Lisbon and Porto to qualify for a Golden Visa. This means that if you’re looking to invest in property in these areas specifically to obtain a Golden Visa, you’ll need to consider other options.
The government is also increasing the investment thresholds for some types of Golden Visa investments. For example, the minimum investment required for a Golden Visa through a real estate purchase will increase from €500,000 to €600,000.
Is the Golden Visa Ending in 2023?
So, with all these changes happening, is the Golden Visa program set to end entirely in 2023? The answer is no – at least, not at this time. While the changes to Portugal’s residency laws will impact the Golden Visa program, it is not being eliminated entirely.
That being said, it’s worth noting that the changes to the Golden Visa program could make it more difficult or expensive to obtain a Golden Visa in Portugal. If you’re considering this pathway, it’s important to carefully review the new rules and requirements before making any investment decisions.
Final Thoughts
As with any residency program, it’s essential to carefully research your options and understand all the relevant regulations and laws. While the Golden Visa program in Portugal is not ending in 2023, there are changes happening that could impact your eligibility or investment requirements. By staying informed and working with experienced professionals, you can navigate these changes and find the right pathway to residency in Portugal.
Is Portugal getting rid of the Golden Visa?
If you’re considering a move to Portugal, or are a current expat or investor, you may have heard rumors about Portugal getting rid of the Golden Visa program. This has caused some confusion and concern among those who are already living in Portugal or are considering making the move.
Let’s start with the basics – what is the Golden Visa program? The Golden Visa program is a residency-by-investment program that was launched in Portugal in 2012. The program allows non-EU citizens to obtain a residency permit in Portugal by investing in the country.
Under the program, foreign investors can obtain a residency permit by making a minimum investment of €500,000 in real estate, or €350,000 in a property that is more than 30 years old or located in a designated urban rehabilitation area. Investors can also obtain residency by creating at least 10 jobs in Portugal or investing €1 million in a Portuguese company.
Now, let’s get back to the question at hand – is Portugal getting rid of the Golden Visa program? The answer is no, Portugal is not getting rid of the program. However, there have been some changes to the program that may impact future applicants.
In 2020, the Portuguese government announced changes to the Golden Visa program that will take effect on January 1, 2022. One of the most significant changes is that real estate investments made in Lisbon, Porto, and along the coast will no longer be eligible for the program.
This means that foreign investors will need to look at alternative investment options, such as investing in real estate in other parts of Portugal or investing in a Portuguese company, in order to be eligible for the Golden Visa program.
Another change that will take effect in 2022 is that applicants will need to spend more time in Portugal in order to maintain their residency permit. Currently, Golden Visa holders are only required to spend seven days in Portugal per year. Starting in 2022, Golden Visa holders will be required to spend 14 days in Portugal per year in order to maintain their residency permit.
It’s important to note that if you already have a Golden Visa, these changes will not affect you. The changes will only impact future applicants.
Foreign investors can still obtain a residency permit in Portugal by making an eligible investment in the country. However, it’s important to stay up-to-date on any changes to the program in order to make an informed decision about your investment in Portugal.
the recent changes to Portugal’s residency laws have provided new opportunities for expats and investors looking to relocate to this beautiful country. The introduction of the Golden Visa program and the expansion of the Non-Habitual Residency program have made it easier for foreigners to obtain residency and access to the country’s benefits, such as tax breaks and healthcare. As an expat living in Portugal myself, I can attest to the ease of navigating the legal aspects of obtaining residency and the welcoming culture of the Portuguese people. With its rich history, vibrant culture, and growing economy, Portugal is an attractive destination for those seeking a new life abroad.
