Portugal has confirmed it is no-longer accepting applications for the Golden-Visa scheme and that it is now terminated.
Local media has reported that applications to obtain a golden visa which were lodged after February 16, are no longer valid and will not be accepted.
In a quote from the Portuguese Prime Minister, António Costa, “Nothing justifies a special regime for golden visas,”.
It is noted that between the dates of 2012 and 2023, 89% of golden visa residence applications were exclusively for the purchase of the real estate, with only 22 cases in which investors created jobs.
It was announced that residence permits granted under the golden visa scheme, are to be converted into normal residence permits, similar to those of other foreign residents making the permit conditions equal according to national law.
Data from the foreigners and border service (SEF), demonstrated that the golden visa brought Portugal €5.9 billion during the last decade.
Spain is still currently accepting Golden-Visa applications meaning you still currently have time to obtain your Residency in the EU.
Would you like to become a resident of Spain through investment?
At current the Golden-Visa Residency is still active and open for applications.
Permanent residency is obtained after 5 years of Spanish Residency through Self-Employed Residency or Non-Lucrative Residency or Residency through Investment. This followed by 5 years as a permanent resident and means you can then obtain Spanish Citizenship with a Spanish Passport.
