On April 14th, the Portuguese government released the final draft law, with reassuring news for investors with previous and on-going applications.
The main points to be considered are:
- The law won’t have a retroactive effect;
- New processes and renewal processes filled until the new law is published will be admitted and are protected under the current law;
- Pending applications and future renewals will be converted into the D2 program – Entrepreneurs Permit – without the residency requirement of 183 days per year. The current special regime of 7 days/year as minimum stay requirement will remain in place.
- New applications for residence permits relating to investments or support for artistic production, recovery or maintenance of cultural heritage country will continue to be admitted;
The Golden Visa program will be terminated as of the date when this new law comes into force, predictably in 45 days.
