Portugal is shutting down its popular 'golden visa' program. Here are two ways you can still get a residence permit (for less money).
that allowed investors to obtain residency permits in exchange for purchasing residential real estate worth at least €500,000.
It's one of several measures introduced last week designed to combat a housing crisis that advocacy groups say has been exacerbated by the program,But the nation's more popular — and less expensive — alternatives to the golden visa scheme are still attracting hundreds of remote workers and entrepreneurs to its shores. that allows remote workers from non-EU countries to live and work in Portugal for up to five years.
Portugal approved 200 digital nomad visas in the program's first three months, according to data from the Ministry of Affairs. The majority of applicants came from the US, UK, and Brazil, Before the digital nomad visa was introduced, remote workers and entrepreneurs used the popular D7 visa to receive local residency status. requires applicants to make only €7,200 — or about $7,673 — a year to qualify.
As Portugal struggles with skyrocketing rent and inflation, housing groups claim that visas like these benefit wealthy foreigners at the expense of local residents by raising the cost of living, adding that shutting down the golden visa is not an effective way to combat real estate speculation as long as similar visas still exist, per
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