The Portugal GV program keeps going strong and is still accepting applications for investments other than real estate. It is important to note that only the real estate option removed from golden visa program, and the program itself is not shutting down. Those who missed investing in real estate can still take the cultural donation or investment fund to receive residence permit for investment activity.

Portugal government has finally gazetted the law ending all real estate investments for golden visa program. The Law 56/2023 has been published in Diario da Republica on Oct. 6, and will come into force on Oct 7 after being published in gazette. The Government ecided to decouple real estate investing to foreigners for the purpose of GV, to avoid a rising property costs, amidst crunch in Portugal. 

The Non-habitual tax regime that gave flat tax incentives to wealthy people, will also close in 2024, according to the latest announcement by Portuguese government.

Eligible Investments

• Job creation – Establishment a limited company and creating at least 10 sustainable jobs in Portugal.
• Research –  Investment of €500,000 to an accredited public or private institution involved in qualifying scientific research.
• Art & Culture – Investment of €250,000 to an accredited institution within artistic production, or cultural heritage.
• Investment fund – – Investment of €500,000 in an investment fund or venture capital fund. (Low density regions at 20% discount from major cities)

• New/Existing companies – Investment of €500,000 in a new company headquartered in Portugal with a creation of five new job positions or a capital injection in an existing company of at least 10 existing job positions.

In Sep 2023, Portugal granted 157 residence permits to investors and 183 to family members receiving €70 million euro monthly investment under the ARI regime out of which €50m invested in properties.