Portugal Price Increase Delayed - Act Now
The “Mais Habitação” or More Housing bill has been vetoed by Portugal’s President and will now go back to Parliament for further discussion. This positive development buys Golden Visa investors at least one more month to push forward with an application under the current legislation.
From this point, Government can either make amendments to the bill and send it back to the President, or they can confirm it with a majority vote and the President will be obliged to accept it. In either case, the Portuguese Parliament is paused for the summer break so it is unlikely that the law will change before the end of September.
The President highlighted several areas of concern in the bill, but the Golden Visa changes were not one of them. When the bill is eventually approved, the real estate element of the golden visa programme, allowing investment from as little as €280,000 will be scrapped and the new investment routes will include fund options and job-creation routes from €500,000.
Whether you have already begun the process or have been considering initiating an application based on the current real estate legislation, we urge investors to push forward ASAP before the investment threshold almost doubles in the coming months. La Vida offers a selection of projects where it is possible to complete the real estate purchase and submit your application in a matter of weeks. To initiate the process, a small legal deposit of just €500 is required.
Contact our team to discuss your options.
