&lt;p style=&quot;font-weight: 400;&quot;&gt;&lt;strong&gt;If you&#39;ve been following the news in 2023 about Portugal&#39;s Golden Visa, you&#39;ll be aware that the Government &#160;is planning to close the scheme later this year. But for the majority of overseas investors, the chances are you have nothing to worry about - as the change is unlikely to affect you and there are other routes to gaining residency in our fantastic country.&lt;/strong&gt;&#160;&lt;/p&gt;
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&lt;p style=&quot;font-weight: 400;&quot;&gt;&lt;br&gt;Portugal’s Golden Visa has been back in the headlines in recent months, after the Government confirmed finally that the scheme would be discontinued this year. This announcement is bad news for a minority of foreigners whose wealth and lifestyle allow them to enjoy certain benefits you only get from this type of residency-by-investment programme.&lt;/p&gt;
&lt;p style=&quot;font-weight: 400;&quot;&gt;But most non-European citizens don’t fit this profile, so the Golden Visa, whilst sounding attractive, was never a feasible option. &lt;br&gt;&lt;br&gt;And the good news is that Portugal has always had other visas suited to retirees, semi-retirees or working people from third-country nations and these continue to be available indefinitely.&lt;br&gt;&lt;br&gt;&lt;em&gt;“The truth is, it will make no difference at all to most of our clients coming from outside Europe,”&lt;/em&gt; confirmed Chris White, CEO of Ideal Homes Portugal. &lt;em&gt;“Typically, if they are retiring or won’t need to work in Portugal, then the D7 visa will be their best option. Otherwise, entrepreneurs and professionals coming to work here can apply for the D2 or D3 respectively. Plus, we now have the digital nomad visa. So there are plenty of options.”&lt;br&gt;&lt;br&gt;&lt;br&gt;&lt;/em&gt;&lt;/p&gt;
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&lt;p style=&quot;font-weight: 400;&quot;&gt;&lt;em&gt;&#160;&lt;/em&gt;&lt;/p&gt;
&lt;p style=&quot;font-weight: 400;&quot;&gt;&lt;strong&gt;End of the Golden Visa era&lt;br&gt;&lt;/strong&gt;Heavily promoted during its 11-year lifespan, Portugal’s Golden Visa was a trail-blazer in investment visas globally. But its widespread publicity and changes to the rules have at times led to misinformation surrounding eligibility, causing some foreign citizens to consider themselves for the scheme, despite not meeting the requirements for it.&lt;/p&gt;
&lt;p style=&quot;font-weight: 400;&quot;&gt;After a couple of years of discussions and adjustments, the Portuguese Government confirmed in the final draft of its ‘More Housing’ (Mais Habita&#231;&#227;o) bill in April that the Golden Visa will become defunct in its current format. This will take effect as soon as the bill is passed in parliament, expected to be within the next few months.&lt;/p&gt;
&lt;p style=&quot;font-weight: 400;&quot;&gt;Under the new bill, existing Golden Visas up for renewal and any yet to be granted before the cut off will be converted to D2 visas (but retaining the minimal seven-day presence requirement of the Golden Visa). In addition, a type of Golden Visa will remain available, but only for individuals investing in “artistic production and the recovery or maintenance of cultural heritage”. &lt;br&gt;&lt;br&gt;If you are eligible and do still want to apply for a Golden Visa under the current rules, there is still a small window so applicants should make their application without delay.&lt;/p&gt;
&lt;p&gt;&lt;strong&gt;&lt;br&gt;So what are the&#160;most&#160;common visa options now?&lt;br&gt;&lt;/strong&gt;The D7 visa is the most common option for obtaining residency for non-European citizens who are retired or won’t need to work in Portugal. It is often called the Retirement Visa or Passive Income Visa, and holders may not be employed in Portugal.&lt;/p&gt;
&lt;p style=&quot;font-weight: 400;&quot;&gt;Key to eligibility for a D7 is having an income from outside of Portugal (such as pension or rental income or investments) that is equal to or more than the Portuguese minimum wage (approx. €700-€750). Add a further 50 per cent of the minimum wage for an accompanying spouse or adult dependent. Applicants must also have an approved level of private medical insurance valid for a year.&lt;/p&gt;
&lt;p style=&quot;font-weight: 400;&quot;&gt;Meanwhile, for the economically active, Portugal offers the D2 visa for entrepreneurs who set up small and medium sized companies, the D3 for professionals with advanced skills or qualifications and the recently launched Digital Nomad Visa scheme, available to those who can generate income from a foreign company or source remotely while living in Portugal.&lt;/p&gt;
&lt;p style=&quot;font-weight: 400;&quot;&gt;So even though there is some uncertainty right now, our opinion is that you really shouldn’t lose sleep over the discontinuation of the Golden Visa. The likelihood is it was never meant for you anyway, and we’ll help you find the most suitable visa to get your residency in Portugal.&lt;br&gt;&lt;br&gt;&lt;/p&gt;
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Portugal Residency Update: Why Saying Goodbye to the Golden Visa is Nothing to Fear

The Portuguese Government  is planning to close the Portugal Golden Visa scheme in 2023. For the majority of overseas investors, the change is unlikely to affect you, as there are other routes to gaining residency. We delve deeper into the D7 and other visa options.