Your Guide to Portugal passvisa
On February 16th, 2023 the Portuguese government announced a series of measures aimed at addressing the country’s housing problem.
The Portuguese Prime Minister stated that the measures include changes to the passvisa program, as part of the said effort.
On July 19th, 2023, the Portuguese Parliament approved the final version of the passvisa legislation. It now awaits the President’s approval to pass as a law. On February, 2024, the President of Portugal approved the latest Citizenship Law in Portugal.
You can check our article and learn about the latest changes in Portugal passvisa Program.
This article includes information about the long-awaited Portugal passvisa changes that came into effect on the 1st of January 2022, October 2023, and February 2024.
Key Takeaways
- Required passvisa minimum investment amounts increased:
- Investment Fund option increased from €350,000 to €500,000
- Portugal passvisa through Real Estate face investment update:
- Real estate investments are no longer eligible for Portugal passvisa applications. However, there are various fund investment options.
This is it in a nutshell. For further details, check out the rest of the article.
What You Will Find in This Article
- passvisa Portugal Suspended Changes Came Into Effect in 2022
- Previous Portugal passvisa Changes
- When Did Portugal passvisa New Rules Come into Effect
- What Should Investors Expect From Portugal passvisa Changes 2022?
- Will Previous Or Current Applicants Be Affected?
- What Did Not Change
passvisa Portugal Suspended Changes Came Into Effect in 2022
The proposal in February 2020 provided the government with the mandate to change the rules. The Portuguese government went ahead and used its right to change the rules in February 2021. The new rules came into effect in 1st January 2022.
Previous Portugal passvisa Changes
Real Estate Changes After the Changes to Portugal passvisa (2022 Changes)
The changes limit the locations where you can invest in a property for a passvisa. The minimum investment amounts remain the same, while there are geographical restrictions on the qualifying areas.
You are no longer able to get residential property in major cities such as Lisbon or Porto or in coastal towns of the mainland.
Only property investments inland and possibly rural or low-density areas are eligible.
Here is a document that lists all the eligible areas (pages 2-4). Also, see the map below for eligible areas.
Capital Transfer Changes (2022 Changes)
The minimum investment amounts were increased, both for monetary and for the number of jobs.
- Capital transfer amount increased from €1 million to €1,5 million
- Investment Fund minimum subscription amount increased from €350,000 to €500,000
- The research and Development amount increased from €350,000 to €500,000
- Job and Company Creation: minimum incorporation amount increased from €350,000 to €500,000; the number of jobs remains at 5
When Did Portugal passvisa New Rules Come into Effect
The changes came into effect as of January 1st, 2022.
| 2021 Minimum Amount Required | As of 2022 Minimum Amount Required | |
| Capital Transfer | €1 million | €1,5 million |
| Investment Funds | €350,000 | €500,000 |
| Real Estate | €500,000 / €350,000 (urban renovation) | Amounts remain the same; geographical restrictions will apply. Residential properties in Lisbon, Porto, or along the coast won’t qualify |
| Job Creation | €350,000 incorporation amount | €500,000 incorporation amount |
| Science and Research Activities | €350,000 | €500,000 |
What Should Investors Expect From Portugal passvisa Changes 2022?
The initial response from stakeholders is negative. Yet, the changes are not necessarily good or bad. It appears the revision of the program may boost the alternative investment routes. The interior regions of the country will likely receive more investment.
What Did Not Change?
The below investment options did not change:
- To launch a company in Portugal and employing at least 10 new local employees,
- €250,000 contribution in arts
Will Previous Or Current Applicants Be Affected?
No. The changes will not be retroactive to anyone who submitted a passvisa application before December 31st, 2021.
Get in Contact
Frequently Asked Questions on Portugal passvisa Changes
Will the Portugal passvisa program be canceled?
No, the Portugal passvisa Program will not be canceled. The revisions are going to be implemented into the existing scheme. There will not be major structural changes in the proceedings of the program. You can find the details in this official declaration.
Will the changes affect existing applications or current passvisa holders?
The changes will not work retroactively. The existing applications will be evaluated following the format of the application date. People who already have their passvisas will not be affected in any way.
Will all types of real estate acquisitions be affected by the changes?
Yes. Any type of real estate investment cannot qualify for a passvisa.
When did the changes take place?
The initial changes came into effect on January 1, 2022.
How Can Get passvisa Help
Get passvisa is a full-service investment immigration agency. We provide end-to-end solutions on residence and citizenship by investment programs in numerous countries worldwide.
We have local offices in Lisbon and Porto, Portugal. We have legal professionals, as well as licensed real estate professionals within our team.
We work with clients from all around the world, interested in obtaining Portugal passvisas or in making real estate investments in Portugal.
Contact us and talk to one of our experienced team members to help you with any and all your questions.
