The new bill that is to be submitted to parliament for approval states that there will be no retroactive effect for applications which have already been submitted and new applications will be accepted until the new law is officially published.
This is estimated to take a minimum of 45 days. The timeframe is tight and this is what you need to know if you are considering applying now:
1) Collect documents for GV process – A lawyer will generally not charge for first consultation to discover documents needed for application
2) Get a NIF – save time and do it online https://bordr.com/portugal/nif
3) Choose a property
4) Get a bank account
5) Developer can receive the money for the property until the bank account is open
The properties in this article have been carefully selected and offer a limited security protection guarantee for Golden Visa purposes. However, if the applicant is unable to complete the process within the time frame, future renewals and applications will rely on other options such as D2 and D7 visa programs.
The D2 visa is intended for entrepreneurs who start or buy a business in Portugal. This visa gives the resident the benefits of living in Portugal and to travel visa-free throughout the Schengen countries.
Strangely enough, the government appears prepared to make an exception to the intended D2 restrictions and the requirement of owning a business will be waived for the D2 visa. Applicants will still retain the benefits of being a resident and be able to freely travel throughout the E.U. sans visa.
The D7 visa enables the holder to obtain a residence permit in Portugal and allows the resident to remain in Portugal for a period of 4 months.
Pensioners, retired foreign citizens or other foreigners living off of a stable income, such as movable property, real estate, intellectual property or financial investments may apply for D7 Portuguese Visa.
For those wanting to take advantage of this window of opportunity, contact Brightman Group for guidance and to determining your current position. With a number of verified Golden Visa options through Real Estate funds or housing, we will help you find the solution.
Anne Brightman is CEO of Brightman Group Investment Real Estate and works with leading GV partners to assist clients seeking to move or invest in Portugal. email@example.com