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The economy loses 4.8 billion euros with a brake on golden visas in residential tourism

Investments worth 800 million euros in residential tourism have been canceled by April, which would have represented 500 million euros in taxes and the creation of 2,090 jobs. The Portuguese Association of Residential Tourism and Resorts is calling for "common sense" to avoid a "catastrophe."   The government is destroying something that took decades to build in just a few months. It involved the effort of investors, the state, and the people, and now, with a thoughtless decision, we are throwing it all away. The criticism of the end of golden visas, a measure included in the "More Housing" package,...

Termination of Portugal's Golden Visa Scheme Confirmed

After a successful decade of Portugal's Golden Visa scheme, the government has confirmed its termination. The scheme brought in billions of growth for the national economy, but the Portuguese Prime Minister, António Costa, believes that no special regime justifies the golden visa. As of February 16, new applications for golden visas are no longer valid, but residence permits for investment will remain effective. The majority of residence permits were exclusively for real estate purchases, with only a small number of investors creating jobs. Therefore, the permits granted under the scheme will be converted into normal residence permits. However, golden visas...

Why Did Portugal Terminate Its Golden Visa Explained

Portuguese authorities have announced that the country’s residence by investment programme will no longer be available. The decision has been pushed by the ongoing housing crisis in the country, as housing prices have soared while Portuguese wages have remained the same.   More specifically, the rental prices have increased by 37 per cent in 2022 alone, making it almost impossible for many citizens to afford to house, SchengenVisaInfo.com reports.   This situation has pushed the authorities to bring the golden visa to an end and also introduce measures like banning short-term rental licenses in Portugal’s city centres, which aims at...

Portugal to End Golden Visa Program After Surge in Home Prices

Golden visas were set up in Portugal about a decade ago Government held a cabinet meeting on Thursday about housingBy Henrique Almeida Portugal will end its so-called golden visa program for new foreign property buyers as it tries to address the lack of affordable housing in one of Western Europe’s poorest economies. To fight real estate speculation, Portugal will “eliminate the issuance of new golden visas,” Prime Minister Antonio Costa said at a press conference in Lisbon on Thursday following a cabinet meeting. Foreign real estate buyers who wish to renew their existing golden visas will only be eligible if...

Why Portugal has the best EU Residency by Investment Programme in 2023

Affordability, unbeatable tax benefits to foreign nationals among the perks When considering a residency by investment programme, there are several options to choose from but what influences the ultimate decision to choose a specified programme lies in the details, which include the cost of the programme, location, and the amount of access a programme offers. It also depends on the benefits offered, like education and health, and how long it will take to obtain citizenship. According to DRP Advisers a leading real estate investment and EU citizenship consultancy in Portugal, “Several highly sought after residency by investment programmes exist in Europe, top...

Portugal Golden Visa on Track for Best Year Since 2019

In a televised speech on Saturday, Greek Prime Minister Kyriakos Mitsotakis announced that the minimum investment amount required under the property investment option of the golden visa program is set to double. “In order to increase the affordability of real estate for Greeks, we are now increasing the minimum amount of investment required for the issuance of a Golden Visa from EUR 250,000 to EUR 500,000,” stated Mitsotakis. The measure was announced at the Thessaloniki International Fair as part of a wider set of economic policies to be implemented, and the Prime Minister did not expound in detail on the...

D7 vs. Golden Visa Portugal: Which One Is Right for You

Portugal Golden Visa and the D7 visa are two popular schemes that help foreigners to move to Portugal and live there.  D7 is also called the passive income visa. It is mainly aimed at retirees and people who depend on their passive income and plan to stay in Portugal permanently. On the other hand, Portugal's Golden Visa is the investment-based road to the kind of residency that doesn’t need you to stay in Portugal for most of the year. Though both the options let you seek permanent citizenship or residency in the country, their set of requirements is different. It is important...

Portuguese Fund Immigrants in China

By Michael Wolf Chinese mainland's immigration history has more than 30 years, in the past time, the Chinese mainland has been the world's largest immigration exporter, currently all the popular in the market immigration projects in China, many projects, Portugal golden residence visa 5.6 billion euros worldwide, and contributed 5.6 billion euros is Chinese mainland once promote Portuguese gold visa nearly 300 channel institutions, the gold residence became the highest investment immigration project after EB5. In 2020, a COVID-19 outbreak completely disrupted the entire investment immigration industry ecosystem. Most CBI/RBI projects have substantial market share, Despite security issues and travel...