Amendments to Portuguese Golden Visa
This is an ongoing matter. Updates are expected.
When the State Budget for 2020 is enacted, the Portuguese Government will be authorized to amend the regime framework of the ARI – Autorização de Residência para Investimento, also known as the Golden Visa.
The authorization, grafted into the State Budget, allows the Government to amend the law in order to favor investment in low-density regions, as well as investment in urban requalification, in cultural heritage, in activities of high environmental or social value, in productive investments and fostering job creation.The authorization to amend the law is valid for one economic year.
Nevertheless, the Government’s goal (as disclosed in the media) is to make real estate investments in Lisbon and Porto metropolitan areas not eligible for Golden Visa purposes. The new letter of the law does not necessarily reflect such intention and any bill to be passed by the Government will have to be carefully analyzed.
Other types of investments will not be changed.
A member of Government advised there is no reason to cancel ongoing deals and mention an adjustment period until the end of 2020.
State Budget is yet to be signed by the President, which is expected to happen still in February 2020.