After more than 10 years contributing to the real estate and national economy growth, the golden visa regime in Portugal is coming to an end.

All applications for new golden visas made after 16 February are no longer valid. However, residence permits for investment under the general regime will remain in force. The announcement was made by the Prime Minister, at a press conference in Almada, to explain some of the most controversial measures of the "Mais Habitação".

"Nothing justifies a special regime for golden visas," said António Costa, pointing out that between 2012 and 2023 the vast majority of these residence permits (89%) were exclusively for the purchase of real estate, with only 22 cases in which investors created jobs.

According to António Costa, "the visas already granted are ensured", therefore the residence permits granted under this programme will, at the moment of renewal, be converted into normal residence permits, identical to those of any other foreign citizen". In this way, "everyone will be treated according to the general law".

Golden visas for entrepreneurs remain in force

This type of visa includes, for example, the StartUP Visa, a programme to welcome foreign entrepreneurs who want to develop a project of entrepreneurship or innovation in Portugal. This new visa applications are assessed taking into account the economic, social, scientific, technological or cultural relevance of the investment.

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