Or will it also be scrapped along with the real estate option?
Answers
The final wording of the law that will impact the Golden Visa program is not yet known as of today. Notwithstanding, from the Prime Minister's declarations, we might anticipate that donation options, especially for cultural purposes, will stay valid.
As per the law proposal currently under public discussion, it is the Government’s intention to fully cancel the Golden Visa program, not leaving any investment option behind. However, as the law proposal is still to be discussed at the Portuguese Parliament, the outcome of this matter is still uncertain. Only when a final document is approved by the Portuguese Parliament will we be sure.
The golden visa program will no longer be in force in any of the categories.
Under the terms of article 3, no. 1, paragraph d), v), vi), vii) and viii) of law no. 23/2007 of July 4th, this type of investment (donations) is maintained. The proposal that will be evaluated by parliament contemplates all types of investments, including real estate.
The announced intention was to cancel the program. However, we are currently in the public discussion period and it is too soon to make any conclusions about possible investment routes that may still be available for investors. All should become clearer when there is a written proposal to be discussed at the Parliament.