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Americans get their wings clipped by July’s end of the Portuguese Golden Visa

Americans get their wings clipped by July’s end of the Portuguese Golden Visa

Americans are rushing to apply for the Golden Visa program before its changes come into play in July, 2021. There are many reasons Americans are applying including:


Visa Free travel - The ability to move freely between the 186 countries of the Schengen Area is highly appealing to those who travel for business, and also those looking to explore the world without having to worry about the limitations of a 90 day stay. 


Portuguese citizenship - Many Americans have applied for the Golden Visa as a way to gain EU citizenship, therefore creating a new home in one of the most peaceful countries in the world. The search for a calm and slower paced life, in a great climate, and with fantastic cultural appeal, and low cost of living, makes Portugal the obvious decision for many. 


New rules coming into effect


What we know so far is that the Golden Visa Program in Portugal will be ending in the most popular regions of Portugal such as the main cities of Lisbon and Porto, as well as the much loved coastal areas of Algarve, Silver Coast and Setubal. There is also the possibility of Portugal raising the investment thresholds for property purchase. 


Why Americans need to act now and secure their Golden Visa


Currently there are 4 thresholds to apply for the Golden Visa through property purchase including:

  • Properties less than 30 years old - The current investment amount is 500,000.00eur in high density areas, and 400,000.00eur in low density areas such as the Algarve. 
  • Properties more than 30 years old - For older properties in need of refurbishment, investment amounts drop to 350,000.00eur in high density areas, and 280,000.00 in low density areas like the Algarve. 


Dipping into the real estate market is a great way to qualify for the Golden Visa, as you can generate some return on your investment. The Algarve is classed as the most popular location for investing, due to the stability of tourism in the region (international and local), as well as the ever growing community of digital nomads looking for sea front property in a beautiful country. 



Learn more about the Golden Visa by watching the following video:



The time is now, so if you are looking into the option of the Golden Visa, contact us today at info@idealhomesportugal.com or call us at +351  289 513 434. We have a highly qualified team of experts to assist you every step of the way and beyond!