Gold Visas - Great Opportunity for the Interior

How the transitional period will apply

And from July 2021 the intention to restrict gold visas to geographical areas of inland or low density real estate investments does not immediately begin to materialize. The plan is that the measure of legislative authorisation will be introduced gradually by the end of 2022.

This means that, during the transitional period, those interested in getting residence permits in return for investments in real estate in the metropolitan areas of Lisbon, Porto and the coast can thus continue to benefit from the current regime.

Real estate has generated most of the associated investment

Currently, the law determines that the acquisition of real estate of 500,000 euros or more or more a purchase of a building over 30 years old, located in an urban rehabilitation area and rehabilitated, totaling 350,000 euros.

In November, 86 residence permits were granted for investment, of which 80 were in the context of the purchase of real estate. In terms of investment volume, there was an increase of 35% last month compared to the same period in 2019, to 50 million euros, according to accounts made by Lusa based on SEF statistics. Compared to October, growth was 75%.

In total, over these eight years, 9,340 gold visas were granted, associated with investments of 5,611 million euros. Of these amounts, 8,782 visas and 5,071 million have to do with real estate. After this sector, the most receptive category is the transfer of capital, with 541 gold visas and 5,398 million euros.

The idea is that, with the entry into force of the new rules, foreign investment so far mainly linked to real estate, especially in large urban centers and main tourist areas, will begin to be directed to the inter-municipal communities (CIM) of the interior and the autonomous regions, also increasing the number of investments in activities that are more enhancing the creation of jobs.