Portugal’s members of parliament have finally given the green light to the measures proposed in the 2020 budget. Among the various proposals, important amendments were done to the Portugal’s Golden Visa programme. The approved amendments indicate that the issuance of a residence permit under the Golden Visa programme for those investing in real estate would be affected in a way that only those investing in Madeira, the Azores and inland municipalities would be eligible. This change thus affects property investments in Lisbon and Porto, the most popular cities in Portugal, since purchasing property in these two cities would not make one eligible for the Golden Visa. The main aim for this change is to attract investors to purchase property in other localities in Portugal, mainly low-density population areas.
