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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...

Proposed Golden Visa Changes Will Not Take Place Until June 2021

By Sugee Portugal    The Council of Ministers approved the diploma that puts an end to gold visas in the metropolitan areas of Lisbon and Porto, as well as the entire coast of the country. The instrument only remains for the interior and autonomous regions of Madeira and the Azores. The new regime will be gradual and it will not take effect before June 2021 at least.   As we all know there is a lot of uncertainty in the mind of investors for Golden Visa Portugal about the changes proposed in the budget of Feb 2020 by the Portuguese...

Chinese Investors Rush to Obtain Golden Visas in Portugal

By Schengen Visa Info   Portugal has registered an increasing number of Chinese citizens who are rushing to ‘buy’ citizenship in Portugal, through the Golden Visa Scheme, before the government puts the program to an end.   Investors from China are considering Lisbon and Porto as appropriate investment locations before both cities are removed from the passport for cash scheme, SchengenVisaInfo.com reports.   “A total of €37 million (S$58.90 million) have been invested in Portugal from Chinese nationals, during the second quarter of this year, “which is twice their spending in all of 2019,” director of Maia International Properties, Luiz Felipe Maia pointed...

Brussels “Demands” Immediate End to Golden Visa Programs

By Natasha Donn   Brussels today is demanding that the EU Member States “immediately end” golden visa programs that give applicants European residency and/or citizenship.   The reason is that after years in which warnings have been sounded by NGOs and ‘lone voices’ against corruption, MEPs recognize these schemes enable “a rapid entry of criminals” into the bloc.   Says a statement released by the European Parliament: “EU citizenship cannot be marketed as a commodity”.   But that is of course what has been happening – in Portugal’s case since 2012.   Admittedly, Portugal doesn’t confer Golden Visa applicants with citizenship....