The Portugal Golden Visa Program is a residency by investment scheme addressed to non-EU citizens.
Launched in October 2012 this program's main goal was to attract international capital into the country, following the economic crisis, and has been an enormous success raising €5,5 billion in a little over eight years.
Unfortunately, all good things come to an end…
From January 2022, Golden Visa investors will no longer be able to buy properties in high-density areas like Lisbon, Porto, and the coastal region of the Algarve – however, they can still buy in inland areas of the Algarve. These looming changes to the Golden Visa policy, which grants Portuguese residency and eventually citizenship to those who purchase property over €500.000, are one of the main reasons encouraging people to bring forward their plans to buy property in Portugal.
Fear not though as this story has a happy ending ! Here at Lago Real we have a little secret to share with you…
Have you heard of the D7 Visa?
This is an alternative option for those that want to live here full time and become Portuguese tax residents. This visa allows foreign citizens to obtain a residence permit, provided that they can prove they have sufficient income to support themselves. The D7 Visa is sometimes referred to as the ‘passive income visa’ because in order to qualify, you must demonstrate that you receive a regular, sustainable income sufficient to support yourself (and your family if applicable) as a resident in Portugal.
What are the benefits of a D7 Visa & how does this differ from the Golden Visa scheme?
If you would like to know more, please do not hesitate to contact us, we can put you in touch with our local experts that are able to help you further in this analysis.