12 UGLOBAL IMMIGRATION MAGAZINE
THE FUTURE OF PORTUGAL ’ S GOLDEN VISA PROGRAM
BY SARA SOUSA REBOLO AND MIGUEL CRUZ SILVA
How is the government changing the program , especially for the real estate route ?
Being one of the most established residency-byinvestment programs , the Portuguese Golden Visa is popular among individuals or families looking for a second residency , second home , second passport or a succession plan . Having multiple options of investment , one of the most popular is the purchase of a real estate or buying property for rehabilitation purposes . However , investment in real estate in a foreign country comes with some challenges due to the number of entities and the risks involved . And also the Portuguese Golden Visa program as we know it is about to close for good .
The Portuguese Golden Visa has been around since 2012 and has been successful with individuals from many different countries having already gone through the process and obtained their Portuguese residency and eventually citizenship . One of , if not the biggest , route to pursue the Golden Visa is the real estate route – you can either purchase an existing real estate or one under construction , or older real estate ( 30-years-old ) with a contract to refurbish the purchased property . Both options are regulated by the Portuguese Foreigners Law and have been an engine of urban development and recovery , not only in large cities but also , more recently , in inland areas , and a tool to attract international players from tourism and hotel sectors . In fact , tourism and hotel developments are , at this moment , the trendiest option due to the lack of geographical restrictions on their eligibility and a minimum amount of investment from € 280,000 .