After the historic 10th of March 2024 snap Parliamentary election, won by the centre-right coalition Aliança Democrática (AD – Democratic Alliance), composed of PSD (Social Democratic Party), CDS-PP (Democratic and Social Centre – People's Party) and PPM (People’s Monarchist Party), the new Portuguese government is being inaugurated today, the 2nd of April 2024.
New Portuguese Government Officially Formed
Today, the 2nd of April 2024, the newly appointed Prime-Minister, Mr. Luís Montenegro, AD and PSD’s president, and his 17 Ministers will be officially inaugurated as the new Portuguese Constitutional Government. This is the 24th government since the country’s Carnation Revolution, which took place back on the 25th of April of 1974 and ended the dictatorship, bringing Portugal into the modern democratic world.
This new government is born from the 10th of March 2024 snap election, which was called upon by the President of the Republic, Mr. Marcelo Rebelo de Sousa, on the 15th of January of 2024, when he officially dissolved the Parliament and the government. The election was called for after the previous Prime-Minister, Mr. António Costa, from PS (Socialist Party) presented his resignation on the 7th of November 2023. AD’s government will be the third President Sousa will inaugurate since he took office back in 2016.
Besides Mr. Luís Montenegro, who will be officially inaugurated as the Prime-Minister at 18h00 in the Ajuda National Palace (6pm, local Lisbon time), the President of the Republic will also inaugurate the following 17 Ministers:
- Minister of State and for Foreign Affairs – Mr. Paulo Rangel
- Minister of State and for Finances – Mr. Joaquim Miranda Sarmento
- Minister for Presidency – Mr. António Leitão Amaro
- Deputy Minister and of Territorial Cohesion – Mr. Manuel Castro Almeida
- Minister in the Cabinet of the Prime Minister and for Parliamentary Affairs – Mr. Pedro Duarte
- Minister for National Defence – Mr. Nuno Melo
- Minister for Justice – Mrs. Rita Júdice
- Minister for Home Affairs – Mrs. Margarida Blasco
- Minister for Education, Science and Innovation – Mr. Fernando Alexandre
- Minister for Health – Mrs. Ana Paula Martins
- Minister for Infrastructure and Housing – Mr. Miguel Pinto Luz
- Minister for Economy – Mr. Pedro Reis
- Minister for Labour, Solidarity, and Social Security – Mrs. Maria do Rosário Palma Ramalho
- Minister of Environment and Energy – Mrs. Maria da Graça Carvalho
- Minister of Youth and Modernisation – Mrs. Margarida Balseiro Lopes
- Minister of Agriculture and Fisheries – Mr. José Manuel Fernandes
- Minister for Culture – Mrs. Dalila Rodrigues
The Secretaries of State, of which the names have not yet been revealed, will be inaugurated in a few days' time, on the 5th of April 2024. AD (Democratic Alliance) won the 10th of March 2024 snap election, and 80 parliamentary seats, while the second-most voted political force, PS (Socialist Party) won 78 parliamentary seats, the shortest margin in Portuguese history, with roughly only 50,000 votes of difference.
New Portuguese Government & Investment Programmes to Make Portugal Attractive for Foreign Investors
It is important to note that AD (Democratic Alliance) is a centre-right coalition that defends the free market and is pro-investment. Many of its economic philosophies surround making Portugal a more attractive place for citizens and residents alike, and this could yet take several shapes. While any changes are unlikely to take place in the coming weeks or months, prominent AD members have already admitted that bringing back the Portugal Golden Visa through Real Estate investment could be a possibility.
During the previous legislature, headed by the Socialist Party (PS), the Portugal Golden Visa’s Real Estate option was discontinued in October as a part of the Mais Habitação (More Housing) package. This move was faced with considerable opposition and social backlash. Back when the law had been open for parliamentary discussion, the President of the Republic vetoed the law, fully believing it would not fully address all the concerns it intended to. Overall, more than 300 amendments were proposed by the opposition, including from AD member PSD, but since PS had the absolute majority at the time, the law was approved and published without further contestation.
During the campaign for the 10th of March 2024 election, Mr. António Leitão Amaro, the soon-to-be Minister for Presidency and PSD Vice President admitted that a Portugal Golden Visa revision would be in order and a more nuanced approach would be required when discussing possibly bringing the programme back. When questioned directly about it, Mr. Amaro referred that “a return to the original terms of real estate investment would not be sensible due to the effects of a cycle gone by”, but that “an improvement of mechanisms could occur”, especially in the sense to “support gaps in the market and increase accessibility in entering the house rental market.”
Likewise, PSD’s Vice-President also mentioned that revising the Non-Habitual Residency regime would also be a possibility, classifying it as “different” from the Golden Visa programme, since the NHR regime must “seek a balance of attracting foreign residents and a concern of equality within the national context”, that would be take place in the form of significant tax reductions.
Portugal Homes & Investment Programmes
Portugal Homes will continue to keep an eye on any new developments and report on any possible return of the Portugal Golden Visa Real Estate investment option or the NHR regime, regardless of whatever new contours it takes. In the meantime, as the future remains unwritten, the best Residency by Investment programme is the Portugal D2 Visa.
The D2 is a Visa that enables foreign investors to set up Residency in Portugal, and all the associated benefits, including visa-free travel to 29 European countries within the Schengen Zone and family reunification. Plus, the D2 Visa currently presents the fastest path to EU Citizenship & Passport, especially since the most recent Nationality Law amendment in Portugal.
After having had tremendous success with the Golden Visa through Real Estate investments, Portugal Homes is proud to boast its own D2 Visa investment solution: Mátria Co-Working for expats & investors seeking Portuguese residency. Starting at a minimum requirement of €280,000, an investment in Mátria is a guaranteed path to second Residency & the Portuguese passport.
