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ARTICLE · 24 OCTOBER 2023

Major Changes To Portugal's Golden Visa Scheme

The highly popular Golden Visa scheme in Portugal has now been amended, with the new law, Mais Habitação, which was enacted on 8th of October and removes the category for investment with the purchase of residential real estate in the sum of €500,000.

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The highly popular Golden Visa scheme in Portugal has now been amended, with the new law, Mais Habitação, which was enacted on 8th of October and removes the category for investment with the purchase of residential real estate in the sum of €500,000. The categories relating to commercial investment remain in place.

The Golden Visa was initially introduced to revive Portugal's flagging economy and proved to be extremely successful in this respect bringing an estimated €530 million worth of investments to the country through the scheme. High-income foreign residents bolstered the local economies in the popular areas and the revised Golden Visa scheme has not been welcomed by all in Portugal. Victor Reis, previously president of the Institute of Housing & Urban Rehabilitation"the problem of the lack of supply of housing is not solved with hostile measures towards those who invest." Also, the regional President of Madeira Miguel Albuquerque exhibited reservations about

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