1. Eligible investment categories for the Golden Visa Program

In mid-July, Portugal's Golden Visa program was temporarily suspended and proposals to amend the law were put forward by the Socialist Party. As of today, the Portuguese Parliament has officially passed these bills. 

Under the new Act, permitted investment categories will include: 

• Investment of at least EUR 500,000 for research activities of a scientific research organization named in the Portuguese national science and technology system;
• Minimum investment of EUR 250,000 for art production, restoration or maintenance of national cultural heritage. Investments through central or local government, public organizations, businesses, private foundations for the public good, local or public cultural associations, art production organizations and pursue the reconstruction and conservation of heritage at the national level. 
• Minimum investment of EUR 500,000 for 5 years or more in collective investment funds established under Portuguese law. Of which, 60% of the value is invested in commercial companies based in Portugal.
• Minimum investment of EUR 500,000 for 3 years or more to establish or contribute capital to a commercial company registered in Portugal, creating stable jobs.

2. Will the new law affect previous and current applications?

ABSOLUTELY NOT. ​

• All applications submitted before the new law took effect will be fully processed and renewed.
• All submitted documents will be processed according to current regulations. Until the new Law comes into effect. 
• The family member guarantee rules remain the same. 
• Portuguese citizens and permanent residents have no influence. 

In short, all applications will be subject to existing law until the new law comes into effect. 

3. When is the new law expected to take effect?

In the case of direct approval by the President, the law will take effect in mid or late September at the earliest. Otherwise, it will take more time to readjust the law.

SO SHOULD I STILL APPLY OR NEED MORE WAIT? 

If you have a need to register for the Golden Visa program, but it is not clear how to plan the next route during this period of regulatory renewal. Please contact iCanfield to get the clearest and most feasible advice according to each of your profiles.

iCanfield has more than 10 years of experience in the field of immigration investment, with a dedicated and professional staff, we have supported more than 1,000 families to successfully settle in Canada, USA, Australia, Europe, and the Caribbean region.