So now we know … Changes to the Golden Visa programme in Portugal really are on the way later this year.
The advent of the COVID-19 pandemic has likely slowed progress on the revamp as it’s been almost a year since the government first signalled the revamp.
However, as it indicated it would in early 2020, the administration has confirmed Lisbon and Porto and some of the popular areas along the coast will be off-limits to investors from overseas looking to secure visas through investment in property.
Summer start
The new restrictions will be phased in from July so, although the details have yet to be confirmed, it’s not a case of an immediate mid-summer withdrawal.
Nevertheless, the news is likely to mean a little anxiety for those either on the brink or part-way through the process, particularly with the added complication of restricted travel due to the global pandemic.
But, for those who were considering a move to sunnier climes in 2021 but have yet to take the first steps, we’d urge a pragmatic approach.
For a start, there’s much more to Portugal than Lisbon and Porto; it’s true we do a lot of our work the cities but there are some equally attractive places to outside them – and with the added advantage of being a little more affordable.
Setubal, for example, may be on the other side of the Tagus but is still within relatively easy reach of Lisbon while the Silver Coast boasts some fantastic beaches and delightful, authentic Portuguese communities.
Your options
Another consideration is that, if you have a European passport than a Golden Visa is not really a requirement to live freely in Portugal. Of course, that may sting a bit of you’re a Brit currently staring down the barrel of Brexit but it’s worth remembering Portuguese citizenship may not be your only option.
However, if you’re were considering Portugal as a possible location for a fresh start this year and if you’re unsure what the news could mean for you, then by all means drop us a line or give us a call.
We’re not just about the buying and selling of homes; we’re happy to help with the logistics, paperwork and advice before, during and after your move so feel free to get in touch. We’d love to help if we can.
Alternatively, feel free to browse our blog for previous posts you may find useful or, if you’d like to check out our portfolio, you can find details of properties currently on our books right here. You can also keep up to date with our Facebook page here.
