On 16 February 2023, the Portuguese Council of Ministers submitted a proposal to amend the “Entry, Stay, Departure and Removal of Foreigners from the National Territory Law” and stop issuing new Golden Visas to foreign investors. Existing holders of certain Golden Visas will still be able to renew their visas, provided they meet certain conditions.
A Tax Alert prepared by EY's People Advisory Services group, and attached below, provides additional details.
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EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com.
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This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax, or other professional advice. Please refer to your advisors for specific advice.
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