Window of opportunity: enter Portugal’s Golden Visa programme via accessible property investment

Changes are soon to be implemented to Portugal’s successful Golden Visa (GV) programme, which has fuelled major investment in historic and urban revitalisation projects, created jobs and stimulated tourism, while simultaneously providing foreigners — including South Africans — with easy access to EU countries and residency in Portugal.

Says Chris Immelman, who heads up Pam Golding International: “These changes are seen in a positive light, as they are expected to open up more accessible investment opportunities for South Africans, the bulk of whom are seeking travel rights in Schengen Europe. Ultimately Portuguese and European citizenship will enable them and their immediate family to live, work and study in these countries.

“Expected to take effect from the end of 2020, the Portuguese government is set to promote investment in low-density regions by most likely excluding the main cities of Lisbon, Porto and the Algarve from the Golden Visa programme.

“This means that those whose applications are currently already in the system won’t be affected, while those who still wish to invest in these areas are encouraged to get their application process in motion as soon as possible as there is a limited window of opportunity. However, Lisbon still offers some very attractive options, but time is of the essence.”