With the country in a State of Emergency, the Portuguese Government keeps decisions on the end of Golden Visas in Lisbon and Porto on hold
In January 2020 the Portuguese Government approved the end of the Golden Visa program in the cities of Lisbon and Porto, which ment that real estate investments in the largest urban centers of the country would no longer be valid to obtain visas. With this measure the state intends to redirect the investments to other sectors and locations in order to promote a sustainable growth throughout the country.
Set to be implemented in the beginning of 2021, the end of the Golden Visas was near and investors were already growing worried about ongoing negotiations and investments. However, Portugal was faced in March with a new and more pending problem that has putt on hold the decision to end for good the GV program.
With almost every sector of the economy affected and with the country in lockdown due to the Covid-19, Portugal is currently in a State of Emergency that leaves very little room for big decisions regarding foreign investment. In conclusion, nothing is to be changed until the end of the year meaning that the Golden Visa program remains active and will proceed as usual until further indications from the Portuguese Government.
Real Estate Boutique has a large portfolio of properties suitable for the Golden Visa application. If you are looking for more information, send us a message through our CONTACTS
area or through one of our TEAM
Source: (Dinheiro Vivo, 2020)