The announcement by the Portuguese government on 16
th February 2023 that it would be ending its Golden Visa scheme has led potential movers to seek clarification and greater understanding regarding their options for settling in Portugal. But all is not lost, according to the Portuguese Chamber of Commerce in the UK, which points out that Portugal still has a range of residency visa programmes that are open to those who want to move there.
The Golden Visa scheme granted residency to those who invested in Portugal, through investment in real estate and capital transfers. It also provided unrestricted travel access to the Schengen Area. Between the scheme’s inception in October 2012 and January 2023, a total of 11,628 residence permits were issued. 5,258 were issued to Chinese citizens, 1,178 to Brazilians and just over 500 to citizens from each of the United Arab Emirates, Turkey and South Africa. A further 18,962 residence permits were issued to applicants’ family members. And after the UK’s departure from the EU, the Golden Visa scheme became one of the options for Britons seeking to move to Portugal. In total, the scheme resulted in more than €6 billion worth of investment in Portugal.
While the Golden Visa scheme is not closed yet, as public consultation on the closure still needs to take place, the Portuguese government seems intent to end this route to residency. However, both the D7 visa programme and the recently launched digital nomad visa programme remain open. This means that Britons who would like to reside in Portugal have clear pathways to do so.
All things residency-related will be discussed in detail at the forthcoming Moving to Portugal Show and Seminars at the Pestana Chelsea Bridge Hotel, London on 23rd March 2023. Open from 11 am to 9 pm, the free-to-attend show will cover a wide range of topics relevant to those considering or planning a move to Portugal. Visa options will be a key focus as part of the show’s seminar programme.
The Moving to Portugal Show will also be attended by representatives from the real estate sector, as well as individuals who have previously made the move from the UK to Portugal and are available to share their experiences of doing so.
For more information, please contact the Portuguese Chamber of Commerce in the UK: www.portuguese-chamber.org.uk or www.movingtoportugal.org.uk, tel 00 44 207 201 6638 / 00 44 7463 689666.