Golden Visa Changes in 2022
Real Estate Investment:
There were significant changes in 2022 for the Golden Visa Program. It is important to clarify the content of this changes, as a general rule, it is not possible to do real estate residential investment in the majority of places in Lisbon, Porto, Algarve and Coastal area, but this might be a interesting opportunity to explore other types of investement.
It is important to clarify that it is still possible to invest in real estate for Golden Visa purposes in the whole Portuguese Territory as long as it is has a commercial aim.
From our point of view, the commercial investement is more profitable for foreigners, since it provides revenue. If you want to live in Portugal, you might discover new areas, such as Braga, Alentejo, Açores, Madeira or Comporta, where the prices are more competitive and it is expected to have a valuation over the next years.
Real Estate Investment for Residencial Purposes:
If you want to know where it’s possible, check the Governament's list.
The most attractive regions where the residential investment it's still possible are the interior areas.
It’s possible everywhere, you have a discount on low residency areas.
There are 3 available options:
1. Commercial real-estate is possible anywhere, if it’s worth more than 500.000€ (or 350.000€ in rehabilitation project)
a. Commercial investment is still possible in Porto, Lisbon and some Algarve cities
b. If it’s in a low-density area, there is a 20% discount
2. Real-estate investment in a interior area – that is at least worth 500.000€ (or 350.000€ if it’s a rehabilitation project)
a. If this investement is located in a “low density” area, 20% discount will apply
3. Purchase residential and commercial real anywhere in Madeira or Azores worth at least 500.000€ – The islands are classified as high density, so the discount is not applicable.
What Areas are eligible for The Golden Visa:
The Portuguese government is trying to boost the following areas:
1. Housing in low density areas
2. Urban requalification
3. Cultural heritage
4. Activities of social value – such as research
5. Job production and productivity
Some Important Concepts:
1. Interior Areas:
These are the regions where you can make a residential and commercial real-estate purchase for Golden Visa purposes.
Click to know more and see videos below:
· Others (such as Coimbra, Tomar, Batalha)
2. Low Density Areas:
These are regions that have less than 100 inhabitants per square km or a GDP per capita that is 75% or less than the national average. This is where a 20% discount is applicable.
Golden Visa is not possible in the following places:
· High Density Areas – coinciding with coastal zones
· But it’s still possible for commercial projects, such as:
o Shops, Stores and AIRBNB’s
3. Rehabilitation Project:
There are some requirements regarding this project:
· Property Requirement: construction concluded more than 30 years ago or location in an Urban Rehabilitation Area - ARU;
· Rehabilitation requirement: renovation work on the property, proven by a construction contract or request for prior information or the respective licensing;
· Acquisition requirement: proof of acquisition of ownership of the property, free of encumbrances and charges;
· Minimum investment required: 350 thousand Euros, adding the value of the property to the value of the rehabilitation works.
The Golden visa changes for 2022 will versify the investment around Portugal. This is your opportunity to find new gems, with high rentability rates – if you are thinking of Portugal, you can’t skip SGP.