DUBAI, UAE, May 20, 2023 /PRNewswire/ — Earlier this year, Portugal’s Prime Minister, António Costa, announced new measures regarding Portugal’s golden visa, keeping submissions of applications open until July 1st, 2023.
Since its launch in 2012, over 10,000 investors (and over 17,000 of their family members) have obtained Portuguese residency through the golden visa, making it one of the top-performing residency by investment programs in the world.
New applicants can still submit their paperwork and have it accepted until the deadline, as the Golden Visa Program is open until July 1, 2023.
Key updates from the announcement:
- Existing clients in the program will have their visas converted to a D2 visa without the 183-day residency requirement.
- Golden visa holders will still only need to spend seven days per year in Portugal.
- The government will also accept investment-based residence permits for individuals supporting artistic production and cultural heritage recovery or maintenance.
- No effect on current applicants.
Investors should keep in mind that despite the end of the Portuguese Golden Visa program, several other European residency programs are still available. These include Spain, Greece, Malta, and Turkey Golden Visa programs. Within Portugal, investors can opt for immigration routes such as the passive income – the D7 visa, the newly christened digital nomad visa and the option that is tailor-made for business owners – the Portuguese D2 visa.
Savory & Partners is an accredited agent for multiple governments where citizenship by investment is offered with coverage in over 20 jurisdictions including Europe and was the first firm to obtain all five authorised agent licenses for the governments of the Caribbean Islands. To date it has processed second passports for over 4,000 citizens with a 100 percent success rate. For more information visit www.savoryandpartners.com.
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