There has been a double dose of good news for Portugal Golden Visa investors, both existing as well as Potential.

SEF resumes processing of applications.

From 13th June 2022, SEF, the immigration agency of the Portuguese Government, resumed accepting applications for Portugal Golden Visa from new investors. This process was suspended in January 2022, when the new rules relating to investment became effective.

We have confirmed that the process is now on, and some of our clients’ applications have been accepted by SEF last week.

This is good news for those investors who had made the qualifying investments for Portugal Golden Visa but were not able to submit their applications due to submissions being suspended.

Also, we see a big rush from new investors (who were on hold for the last 5 months) to complete their investment and file the applications at the earliest.

Parliament rejects a proposal from an opposition party to End Golden Visa.

Another piece of good news is that the Portuguese Parliament has rejected a proposal from some opposition parties to end the “Portugal Golden Visa” program and also make any changes to it.

This ends all the uncertainties relating to the continuity of the Portugal Golden Visa. The program, which has been successfully running for over the last 10 years, has resulted in over 10,000 plus investors and many more of their family members getting Residency rights in Portugal and travel access to Schengen countries in return for investment, primarily in real estate. The Portuguese economy has seen inflow in excess of over EUR 6 Billion through this program.

Questions were raised about the continuity of the program in the light of the recent war between Russia and Ukraine and measures taken by certain European countries to restrict access to Europe, especially for Russians.

Also, certain opposition members in Portugal were against the program. However, the Portuguese parliament on Friday, 17th June, rejected the proposal to end the program or make any changes to it.

These developments have allayed the fears of potential investors regarding the continuity of the program and have brought in much-needed long-term stability, thereby encouraging more investors to participate and contribute to the Portuguese economy.