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Is it too late to complete a property investment transaction under Portugal's current golden visa rules?

I've heard that even if investors opted to buy property in Lisbon and apply for the golden visa in Portugal as soon as tomorrow, one would not be able to complete the process by the end of this year. Is it better to put my money in a fund investment instead?


Answers
  • NEXT/Gali Macedo & Associados
    November 19, 2021

    The ARI/Golden Visa application is divided in two stages: an online first stage, where all basic documents are uploaded to the SEF’s platform and, once approved, a second stage, where the main applicant (and family members, should this apply) personally go to SEF facilities and have their biometric data collected, also they handover all necessary documents in this stage. Regarding your question, the point in time that matters is the moment when your online application was executed, not when application has been decided. If you applied under the former legal framework, your rights cannot be jeopardized due to a new set of rules that go against them. As such, if by the end of the year, your application (at least online) has been executed but hasn’t been decided yet, you will still be eligible.

  • Azevedo Ascenso Migration, Tax & Legal
    November 16, 2021

    The more cumbersome part is to open a bank account. The property acquisition or the fund investment take approximately the same time; the crucial part is to overcome the bank account in a timely manner.

  • November 17, 2021

    You can still do the operation this year if you schedule the deed by December 31, 2020. The only issue is to find a proper property depending on your budget.

  • Lamares, Capela & Associados, Sociedade de Advogados
    November 25, 2021

    Yes, to apply for the golden visa under the current rules that are valid until December 31, it is to late to complete a property investment transaction because this investment takes too much time. The investment fund option is a better option because it is doable until December 31.