Applications are not closed or suspended. It is technically still possible to apply for GV based on real estate related investment since the law changes are not in force yet.
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How can I apply for a Portuguese golden visa through the purchase of property?
Is it still possible to apply for the golden visa in Portugal since no final decision has been taken yet or are applications already closed?
Answers
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On April 14, the government published a project of law (proposal) that has several measures and impact in the ARI/Golden Visa program. In summary, according to the proposal presented, we highlight the following points: The program will be closed, however, there is no retroactive effect; new applications and renewal applications filled until the new law is published will be admitted. This way, since the new law hasn’t been published yet, it is still possible to submit new ARI applications through investment in property in Portugal.
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The application for the Gold Visa/ARI must be made online at the website of the Foreigners and Borders Service, through their website. If you prefer, you may be represented by a lawyer. In this case, the application may be made by the legal representative. This representative must have a Power of Attorney, and after the registration, submit it to SEF. The application must be formalized by the applicant, by submitting a declaration. In this declaration, under a promise of honor, he must certify the compliance with the minimum quantitative and temporal requirement of the investment activity. This statement and all the necessary documentation shall be submitted at the time of the application for granting of the Residence Permit and/or of its renewal. The submission is made in person at the competent SEF regional directorate. The decision to grant the Gold Visa/ARI falls under the competence of the SEF National Director, through proposal of the Regional Director of the same body. The scheduling of the date and time for submission of the ARI application at the SEF office is done through the SEF website, through pre-registration. The PS (Portugal's socialist party), has presented a proposed amendment to the more housing bill that keeps the golden visa program open, albeit with some changes, which presents a considerable shift from its initial plans. The government proposes to keep some investment options, but investments of a real estate nature and capital investments by means of deposits and similar instruments will not be eligible for the Golden Visa program. A final vote on the proposal is expected to be scheduled in the coming days, probably around July 19. In essence, the current understanding suggests that the Golden Visa program will be maintained, albeit without investment in real estate and without specific investments such as deposits that were once possible. It is still possible to submit applications before the new law enters into force and investors and their regrouped will have all the conditions that the Golden Visa program provides until the date of the presentation and submission of the application. Please note that even after the vote, there are several additional steps the proposal needs to go through, which will require time and may involve extending application deadlines.
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It is still possible to apply until the new law is published - there is no date yet - however, due to the uncertainty, we recommend straightforward investments.
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