On 22 December 2020, the Council of Ministers approved a Law-Decree aimed at limiting the well-known Golden Visa regime away from the coastal regions and the metropolitan areas of Lisbon and Porto.
This Law-Decree will come into force in July 2021, with a transitional period during the years 2021 and 2022.
According to the Minister of State and of the Presidency, Mariana Vieira da Silva, the aim of this diploma is "to promote the investment of foreigners in low-density regions, namely in urban requalification, cultural heritage, activities of high environmental or social value, productive investment and job creation".
We would like to note, however, that the possibility of renewing residence permits already granted is safeguarded.
We emphasize that this whole process will be quite gradual but will have an impact already next year, so we are waiting for the publication of the new Law-Decree to clarify all the changes implemented to the residence permits for Investment (ARI/Golden Visa).