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Golden Visa – New rules only to come into force in 2021

The granting suspension of “Golden Visas” in Lisbon, Porto will only come into force in 2021.

In a statement to TSF radio station, Tiago Antunes, Minister of State Assistant of Prime Minister, said that, in order not to affect any ongoing negotiations, new rules will only come into force at the beginning of next year.

The State Budget Law approved at the parliament on February 12th, previews a special legislative authorization for the government in order to introduce an alter on the Golden Visa legal regulation law dated of 2012, previewing a limitation to the issue of new visas associated to the investment on real estate asses located in the Lisbon and Oporto Metropolitan areas

The Government considers that the changes are justified, given the increase in housing prices, however, the message “is not yet sufficiently known“, which has caused some instability in the real estate market.

According to Tiago Antunes, it is necessary to clarify that those changes should not introduce any disturbance to ongoing business, since we will have “an adjustment period” until its entry into force.

Aside from the real estate investment limitation, the legislative permit does not preview any other changes to the Golden Visa legal regulation.