Golden Visas end this year in Lisbon and Porto

The government is ending the golden visas system in Lisbon and Porto. The measure, which was planned in the State Budget for 2020 in the form of legislative authorisation, has been postponed because of the pandemic, but now the state will speed up the process.

According to Jornal de Negócios, which cites an unidentified government source, the government has decided that it wants to comply with all that has been agreed with the Left Bloc and the Portuguese Communist Party in this year’s Budget.

The legislation should be ready by the end of the year, so that foreigners who wish to acquire a residence permit by investing in real estate will have to do so outside the major centres of the country. Visas will only be granted to those who invest in inland regions.