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In the course of the discussions towards the approval of the National State Budget (“Orçamento do Estado”) for 2020, on Monday, January 27th, the Socialist Party has submitted a proposal which aims to restrict the issuance of Golden Visas to investments made by foreigners in territories located in Intermunicipal Communities of the Interior “Comunidades Intermunicipais do Interior” (a concept which is yet to be defined and territorially limited), or in the archipelagos of Madeira and Azores. Under such proposal, real estate investments carried out in Lisbon and Oporto would be, in principle, excluded from the Golden Visa program.
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