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Spain’s New Digital Nomad Visa – Who’s Eligible And The Tax Benefits 

Rising Anticipation: Projections Indicate an 8.7% Surge in Portuguese Home Prices for 2024 Despite the Conclusion of the Golden Visa Program 

In a surprising move, Portuguese officials declared the termination of the country's popular golden visa program in February, sending shockwaves through the real estate market. The lack of concrete details in the announcement has left investors and their advisors uncertain about the implications and the necessary course of action.
Portugal, renowned for its safety, natural beauty, and favourable tax regime, has been a sought-after destination for buyers outside the European Union. Despite the discontinuation of the golden visa program, other visa programs are available and can cater better to their long-term needs.

The uncertainty surrounding Portugal’s announcement stems from the lack of specific details, including the timeline for terminating the program and the potential retroactive application of rules. Despite concerns about the impact on the market, experts argue that the elimination of the golden visa program is unlikely to affect property values significantly.
Strong Fundamentals Prevail Amid Uncertainty
Despite the lack of clarity, experts assert that Portugal’s strong fundamentals will continue to attract investors.
Most golden visa investors do not aim to reside in Portugal full time, requiring only seven days of presence in the country annually to comply with the program. However, the lack of clarity has already impacted some large residential hotel developments, causing delays and cancellations.

 

 

 

Spain’s New Digital Nomad Visa – Who’s Eligible And The Tax Benefits 

Adapting to Change: Shifting Dynamics of the Golden Visa Program

The discontinuation of the golden visa program, prompted by concerns of foreign buyers driving up home prices, has raised questions about its broader implications.
The golden visa program, designed to attract foreign investment after the 2008 housing crisis, offered a relatively inexpensive buy-in with various investment options. While the lack of clarity has halted some projects, experts believe that the end of the golden visa program, as known, will not deter investment in Portugal.

 

Spain’s New Digital Nomad Visa – Who’s Eligible And The Tax Benefits 

Diverse Investment Alternatives Amidst Uncertainty

Despite the uncertainty, investors will still have options to obtain a visa through alternative financial instruments. Buyers can explore different avenues to meet the program’s requirements, such as transferring capital to Portugal or investing in businesses that create jobs.

While changes to the golden visa program may redirect some investors to other regions with similar incentives, many countries are grappling with similar issues. A growing community of overseas buyers in Portugal, particularly from the U.S., not solely dependent on real estate investment for obtaining a visa. Various visa programs, including those for digital nomads and high-value job holders, provide alternatives for those seeking to relocate to Portugal.

The American community in Portugal is growing like never before!

 

Spain’s New Digital Nomad Visa – Who’s Eligible And The Tax Benefits 

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