After yesterday’s Council of Ministers, the Portuguese Government has announced its decision to end the Golden Visa program as part of the package to fight the current real estate speculation and overall housing crisis in the country.
According to the Prime Minister, the residence permit renewals will only be possible if proven that the property is used as permanent/primary housing by the investor or its descents or placed in the market for durable rental purposes.
As of now, it is still unclear if the program will keep running without the possibility of investing in real estate or if this decision will be applicable to all investment routes.
It is important to note that there are no expectations to when these measures will enter into force.
Almeida, Dias & Associados shall keep all their clients and potential new investors informed of any relevant updates.
