The Portuguese government does not intend to terminate the Golden Visa program and plans to attract investors by introducing new tax incentives.
In 2024, the country granted a record number of "golden visas" to the main applicants and their family members 4,987. This is 72% more than in 2023 and exceeds the previous maximum reached in 2017, according to the immigration agency AIMA.The surge occurred against the background of the center-right government's plans to increase tax benefits for holders of this type of residence permit and speed up the processing of applications (45,000 applications are currently being processed).
The Minister of Presidential Affairs, Omaru, said that Portugal is exploring ways to improve the Golden Visa program and provide tax incentives for expats in order to strengthen the country's competitive position. This is happening against the background of the fact that Spain canceled a similar scheme due to problems in the housing market.
Portugal currently has a special tax regime for non-residents (NHR), which provides for a fixed rate of 20% on income from employment and self-employment, excluding capital gains and pension payments. However, holders of a "golden visa" are not automatically eligible for this tax regime.
Portugal's Golden Visa is provided to investors in the country's economy. The purchase of real estate is no longer the basis for obtaining an investment residence permit.
Source: IMI