good news

Portugal's golden visa reform has been extended again!

01

"Bill" returned

According to reports, on August 21, 2023, Portuguese local time, President Marcelo vetoed the "New Housing Act".

"The president returned a bill submitted by parliament on measures in the housing sector without approval," reads a statement on the presidential palace website, referring to the termination of Portugal's golden visa program.

After being rejected, the proposal will be sent back to Parliament for re-amending and discussion, and it is expected that a new amendment may be formed within a month.

Marcelo said that after conducting a detailed assessment, he found nothing unconstitutional in the current bill, not even with regard to so-called mandatory leases.

This decision means at least one more month of buffer period for the Portuguese Golden Visa program.

02

July approval details

According to the latest data released by the Portuguese Immigration Service (SEF), in July 2023, a total of 270 applicants have obtained Portuguese golden visas, with a total investment of approximately 57.22 million euros. These included 101 principal applicants and 169 dependent applicants.

In terms of investment methods, 61 applicants obtained the Portuguese Golden Visa through house purchase and migration, with an investment amount of 41.04 million euros.

Among them, 39 applicants chose to invest 500,000 euros in real estate projects, with an investment amount of about 33.19 million euros, accounting for 81%; the other 22 applicants chose to invest 350,000 euros in old house renovation projects, with an investment amount of about 785 million euros. million euros, accounting for 19%.

In addition, 65 applicants successfully obtained status through asset transfer.

03

Why is it so popular

★Low application threshold

The application threshold for the Portuguese Golden Visa is low. There are no restrictions on language and education, and no requirements for funding sources and management experience, providing opportunities for more applicants.

★No immigration supervision

The residence requirements for the Portuguese Golden Visa are flexible.

Only 14 days of residence in the first year can meet the requirements, and only 7 days of entry each year thereafter.

★EU status

Can obtain EU status, travel freely in 27 countries, passport-free/visa-on-arrival in more than 180 countries and regions.

★Investment income

The holder can not only enjoy the freehold property, but also enjoy the rich income brought by the property.

Although the President of Portugal vetoed the "More Housing Act", this only buys more time for those who intend to apply for the Portuguese Golden Visa, and the Parliament will continue to discuss and amend the Act later! No one can predict the future changes.

For interested applicants, it is better to apply as soon as possible, seize this last window period, and catch the last train to buy a house and move to Europe!

If you have any questions about the Portuguese Golden Visa, please contact Xingyunhai International!