Portugal Golden Visa via Real Estate Investment comes to an end.

Portugal Golden Visa via Real Estate Investment comes to an end.

On Saturday, October 7, the law that terminates Golden Visas through real estate purchases will go into force, so terminating the 2012 initiative. The Golden Visa scheme is still in place even if the route to Portuguese citizenship through real estate investment is closing.

The Portuguese government declared that cash transfers and real estate transactions, including funds that invest in real estate, will no longer be eligible for the Golden Visa. However, applications can still be submitted for the time being (probably through late September or early October).October 6, 2023, is the deadline for submitting Golden Visa applications under the previous regulations. October 7 is when the new law goes into effect.It has been verified that a specific capital transfer of at least €500,000 is still required in order to get a Golden Visa through residency.

According to the law, this needs to be “a transfer… intended for the acquisition of shares of non-immovable collective investment undertakings, which are incorporated under Portuguese law, and at least 60% of the value of the investments is carried out in commercial companies established in national territory.” The law specifies that this needs to be at least five years from the date of investment.

• In 5–6 years, you can select from a variety of reasonably priced investment choices that will grant you citizenship and permanent residency.
• The bare minimum amount of time that visa holders must spend in Portugal annually is seven days in order to be eligible for a renewal and eventually citizenship.
• You will be able to enter the Schengen area of the European Union without a visa if you are a Portuguese “Golden Visa resident.”You can live and work anywhere in the EU/EEA once you become a citizen, and you’ll receive the fourth-best passport in the world for global citizens and nomads.
• Unlike many other Golden Visa programs, this one is NOT on the OECD’s blacklist.
• For immigrants, Portugal may also provide advantageous tax advantages, including possible exemptions on a portion of their foreign income.
• Portugal is a secure and stable nation with the greatest climate in continental Europe, outstanding healthcare and educational opportunities, well-connected airports, and an excellent and reasonably priced standard of living.Portugal’s Golden Visa scheme is likewise reasonably accessible in terms of eligibility. For most people, these are the greatest options:
• Real estate investments with a starting price of €280,000, while €350,000 or €500,000 are more typical.
• a venture capital or private equity firm investment of €500,000.
• even a business choice with no set minimum capital need.

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