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About new real estate investment restrictions 2022


Posts: 9
 Nao
Premium Member
Topic starter
(@nao)
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Joined: 8 months ago

Hi

Does anybody know good site or contact person/  company to find out exact location that this restriction will apply? I read “Properties in Lisbon, Porto, and other high-density coastal towns” 

I am thinking Ericeira or Mafra. I guess Ericeira is considered high density costal towns. Mafra is district of Lisbon but not in center....I am not sure still it will be in restriction zone. It will be so helpful some map or list of town name information which tells me the new restriction zone. 

Any advice is so appreciated! 

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Posts: 690
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(@barlaventoexpert)
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Joined: 13 years ago

The situation is not clear BUT my understanding from recent news is that the restrictions will be applied case by case on a socio-economic basis and not a pure geographic basis.

The following article from 2020 quoting a minister defines the concept of "territórios do interior".

https://www.idealista.pt/news/imobiliario/habitacao/2020/05/29/43517-ir-viver-para-o-interior-mais-atrativo-guia-dos-novos-beneficios-fiscais-em-vigor  

The following article also is relevant..

https://www.idealista.pt/news/imobiliario/habitacao/2021/02/12/46277-vistos-gold-restricoes-ao-programa-so-entram-em-vigor-a-1-de-janeiro-de-2022

Basically, my understanding of the policy is that the new "Golden Visa" regime aims to target in areas with low socio-economic parameters.

Ericeira and Mafra are Lisbon Commuter Belt. One must remember that city names such as Mafra may also refer to the municipal area they lie in. Ericeira lies actually in the Mafra council area and together they both lie in the District of Lisbon as defined here.

https://pt.wikipedia.org/wiki/Distrito_de_Lisboa

My understanding is that much of this region will fall outside the definitions referred to above. To qualify one would have to look towards places where the socio-economic indicators are not good. 

In essence, one would probably have not difficulty getting approval for a Golden Visa Project in Abrante, Fundão or Barrancos. Along the coastline and in the big metro areas like Lisbon & Porto - forget it.

However, one should check with a lawyer here in Portugal specialising in this programme.  

 

    

 

 

 

 

 

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1 Reply
 Nao
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(@nao)
Joined: 8 months ago

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Posts: 9

@barlaventoexpert Thank you so much! You explained so well. Yes, definitely I need to find Lawer for this ....in our case, getting Golden Visa is not priority. We will select location based on our needs and happiness. But if that location qualifying GV, we may look into different price point of house. Thank you so much for many reference! 

If somebody knows good lawyer to connect, please let me know! Our target moving day is 2024, so we have bit more time to think and prepare! 

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Posts: 474
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(@thomasribatejo)
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Joined: 5 years ago

Decreto-Lei 14/2021, published on 12 February this year, makes clear changes to existing legislation.  I see no lack of clarity, or any ifs/buts.

From 1 January 2022, only real estate investments in zones noted in Portaria 208/2017 are eligible for Golden Visas.  The document is on pps 2-4 here:

https://dre.pt/application/conteudo/107684448

This is a 2017 document, but it is the list referenced in Decreto-Lei 14/2021.

If you want to use the "Golden Visa" route for other locations (incl. Mafra) then you need to have completed the process at a notary by 31 December 2021 at the latest.

So, check the municipality name (which may differ from the town, as noted by a previous poster) and if it's on this list, you're basically fine; if it's not, the clock is ticking.  As this law was written and came into effect "during COVID", it is unlikely to be the subject of any COVID-related extensions/allowances.

 

Thomas

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3 Replies
 Nao
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(@nao)
Joined: 8 months ago

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Posts: 9

@thomasandmatthew Thank you so much! It seems like we need to go D7 rout if we want to stick to Mafra. We need to prep bit more in USA, so it is unrealistic for us to act by the end of year. But that is fine I just needed to know what is our option! Thank you so much for sharing precious knowledge!

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Admin
(@thomasribatejo)
Joined: 5 years ago

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Posts: 474

@nao No problem - it was a blurry topic for some time, with lots of speculation; it's helpful in some ways that it's now been clarified.  Good luck with your planning - Mafra has a lot to recommend it!

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Premium Member
(@jeanne)
Joined: 1 year ago

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Posts: 276

@thomasandmatthew. Thank you for posting the link.  I think the uncertainty arises because most of what is found online is just a vague  description of what areas are not or will no longer be included, such as "not in the Lisbon area or in certain parts of the Algarve". Very useful to have a definitive list. 

 

 

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Posts: 690
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(@barlaventoexpert)
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Joined: 13 years ago

Thanks for posting up:

 

Portaria n.º 208/2017

 

Useful.

As regards Mafra, I agree it it has a lot to recommend it.

When we moved up from the Algarve, we rented for a year in Malveira, while we looked for a new home. Turned out the morning sea mists coming of the Atlantic in the area were not to our liking, nor was the fact that Ericeira was to much like the Algarve in summers with hordes.

We ended up near Torres Vedras in a village, surrounded by vineyards, 5 minutes from a motorway, regular bus services to Lisbon & hardly any estrangeiros in sight. 

Falamos só em Português com os vizinhos e agente!!

We're happy.

 

   

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1 Reply
 Nao
Premium Member
(@nao)
Joined: 8 months ago

Active Member
Posts: 9

@barlaventoexpert Thank you so much for this info! It is hard for us to pin point area by just researching online...and it is hard ( or impossible) to check local area in person using tourist visa at this point....so sad! I will look into the area you mentioned. Planing to check several areas on next summer!

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