Voting will take place on March 16, 2023. If the initiative is approved in the current version.
Portugal is considering an initiative to close the residence permit program for investment
Investors who managed to apply in advance will be able to receive a "golden visa".
Investors will be able to renew their existing "golden visas" only:
If the investment property is also their home, where they live permanently.
If their investment object is put on the long-term rental market.
Important:
Now we are talking about the complete completion of the program, and not about reducing the option of investment in real estate.
If the initiative is approved in the current version, only investors who managed to apply in advance will be able to receive a “golden visa” for Portugal. Portugal will not consider new applications.