The latest development of Portugal's golden visa: confirm the closure, visa ushered in the critical period of card snatching!

Portugal's golden visa closure process has finally made new progress!

The new proposal contains a new "no longer seek to terminate the golden visa program" related content. Instead, only two investment options in the project were eliminated: real estate investment and bank deposit option."

On July 19, the Portuguese Parliament held a final vote on the details of the "housing legislation plan" (including the details of the golden visa). Finally, the bill was sent to the President for promulgation.

Portugal Golden Visa Change

January 1, 2022:

Portugal's new deal came into effect, with the phased restriction of "eligible" areas for real estate investment in Portugal, with the aim of evenly distributing foreign investment to the rest of Portugal and developing the Portuguese real estate market in a balanced manner.

Early November 2022:

Portuguese Prime Minister Antonio Costa let out the news that the golden visa, which lasted for ten years, has fulfilled its due duties and completed its historical mission. The golden visa will be gradually shut down in the future.

February 16, 2023:

Portuguese Prime Minister Antonio Costa officially announced the cancellation of the golden visa at a press conference. However, the specific implementation details of the project shutdown (details of the shutdown and implementation time) were not disclosed.

April 4, 2023:

Professor Jorge Miranda, founder of the Portuguese Constitution, shared his legal views in the Communiqué, stating that the Portuguese proposal for change of government does not take into account "legal holidays", I .e. the transitional period between the publication of a new law and its entry into force, that the termination of the project or any amendment should take into account transparency and consultation with all stakeholders, and that it would be contrary to the Portuguese Constitution to impose changes of government, or will usher in thousands of people at the same time to sue the Portuguese government situation, thus, Portugal's political change process or will usher in a reversal!

19 May 2023:

On May 19, according to local media reports in Portugal, the Portuguese government held a parliamentary vote on the controversial "more housing plan", and the golden visa closure bill was initially passed.

June 20, 2023:

On June 20, 2023, Portugal time, Portugal's political change ushered in the latest news: Portugal will retain the golden visa program category on the basis of the original bill, and only close channels such as home purchase, investment and immigration! (including 280000 euro investment immigration channels)

July 6, 2023:

On July 6, 2023, Portugal time, Portugal's political change ushered in the latest news: the proposal to retain some categories of the golden visa program and only close down categories such as investment immigrants (including 280000 euros for house purchase and renovation). And, the proposal has been approved by the Portuguese Parliament, the Socialist Party, BE and PCP voted in favor!