On October 6th, 2023, the Portuguese government published the new “Mais Habitação Law” (More Housing Program) which documents a series of changes to the Portugal golden visa program which permits residency via investment in Portugal.
The biggest change to the golden visa program is that you can no longer invest in real-estate property or a real-estate fund to apply for the golden visa program.
Why has the More Housing Program come into place?
There is a huge demand for property in Portugal at the moment, therefore the government has made this change to ensure foreign buyers aren’t snapping up all the available homes via investment in real estate.
Updates to the Portugal golden visa and NHR
On Thursday 14th December, Your Overseas Home invited Joana Neto Mestre, managing partner and lawyer at MATLAW and Joana Mil-Homens, associate lawyer at MATLAW, a legal firm in Portugal based in the Algarve and Lisbon, to clarify the changes to the Portugal golden visa program and the opportunities of the Portuguese tax law after the end of the attractive NHR program announced for 2024.
Why not watch the webinar recording for a full recount of MATLAW’s guidance and expertise?
Joana and Joana were extremely helpful to our live viewers and were able to provide great insight into common misunderstandings regarding the Portugal golden visa program and NHR status.
Click here to enquire with our trusted partners at MATLAW.
Is the Portugal golden visa program ending?
No. The program has not ended. The only thing that’s changed is that you can no longer qualify for the golden visa via real-estate investment, which was previously allowed for up to €500,000 investment.
This is no longer an eligible investment for the Portugal golden visa program under the “Mais Habitação Law”.
What are the remaining investment routes for the Portuguese golden visa?
There are alternative routes to qualifying for the Portuguese golden visa program. They include:
- A capital transfer of at least €500,000 for the acquisition of investment funds’ units or venture capital funds aimed at the capitalisation of Portuguese companies
- A capital transfer of at least €500,000 to be incorporated in a Portuguese business along with the creation of 5 jobs, or €500,000 to increase the share capital of an existing Portuguese business along with the creation of 5 jobs or the maintenance of 10 jobs
- Creation of 10 jobs
- Scientific research or technology contribution of at least €500,000
- Investment or donation in the arts or reconstruction of national heritage with a donation of at least €250,000 (Global Citizen Solutions, 2023
These investments can be materialised individually or through a single shareholder limited liability company (“Sociedade Unipessoal por Quotas”.)
These types of investment cannot be aimed directly or indirectly at real estate investment.
For more information or guidance on your requirements, we recommend you speak to a Portugal golden visa specialist.
Click here to enquire with our trusted partners at MATLAW.
Don’t forget, you can find more information about Buying in Portugal in our FREE guide and on our sister site, Property Guides.
