Portugal’s Enhanced: Purchasing property in Portugal no longer qualifies for the golden visa residency program, prompting a shift towards investment funds. Initially, the Portuguese government planned to eliminate the golden visa scheme due to its impact on a housing crisis.
To address concerns, the government had already aimed to redirect property investments from major cities to less populated areas.
Portugal’s Enhanced Visa
Since its launch in 2012, the golden visa scheme, granting residency rights to wealthy non-EU investors, attracted around 8B USD. Predominantly utilized by individuals from US, Brazil and China, approximately 90% of the funds flowed into real estate, contributing to rising house prices in Portugal.
In response to such programs, the European Commission has urged their termination, citing security risks. While investment in funds has been an option since 2015, it is now anticipated to become the primary avenue for golden visa applicants. Alternatives include contributing to cultural or research projects.
The Portuguese stock market regulator, responsible for certifying eligible funds, estimates there are around 40 options, although some may no longer be available for investment.
This shift in the golden visa scheme reflects Portugal’s commitment to balancing foreign investment with addressing housing challenges and aligning with European Commission recommendations.
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