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29.09.2023

Portugal still abolishes “golden visas” for real estate and bank deposits

The country's parliament has voted again for the Mais Habitação (More Housing) law, which includes relevant provisions. And without a single amendment. Prior to this, the President of Portugal vetoed the law, sending it for further revision. But the deputies insisted on their own, and the head of state will not be able to veto a second time...
 
However, the law was adopted nervously. Opposition parties made more than 320 proposals to amend the law at the plenary session, but all of them were rejected by Socialist deputies, as well as other parliamentary groups.

What's the result?

Real estate worth €280,000 or more will no longer help you obtain a residence permit in Portugal. As well as placing an amount of €1.5 million or more in a Portuguese bank. However, foreigners who previously issued “golden visas” will be able to renew them.

It is important that the program continues to operate. The following options remain:

- Investments in culture – from €250,000
- Investments in science – from €500,000
- Investments in venture funds – from €500,000
- Investment in business (creating 5 jobs) – from €500,000
- Investment in business (creating 10 jobs) – from €500,000

Learn more about these features.

Probably the most interesting option now will be the option of investing in venture funds. There is an opportunity to earn passive income. Consult immigration agents.

Back in March 2022, the Portuguese authorities announced the suspension of the program for citizens of the Russian Federation and Belarus. During 2022, there were reports that statuses were received by candidates who had previously submitted documents (they traditionally have a large queue of applications for consideration). There have been no announcements about the resumption of work with Russians and Belarusians, but many immigration companies claim that they continue to work with Russians...

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