An attempt of the two far-left Portuguese parties to get rid of the golden visa program through a motion at the parliament failed. Instead, the MPs voted pro the widening of the visa program by adding a new category called “Green Visas”.
Andre Silva, a lawmaker from the PAN animal-rights and environmental party, said that it is important for Portugal to create a new scheme that would attract foreigners to invest in areas of ecological nature.
“Taking into consideration the importance of reinforcing a multicultural and open society …it’s important to create an additional scheme to attract foreign investment of an ecological nature”, he said in front of the parliament.
The new category of Golden Visa will permit foreigners to obtain Portuguese residency if they invest a minimum of €500,000 in organic agriculture, ecotourism, renewable energy and other environmental projects.
On the other side, Transparency International Portugal’s (TI PT) President João Paulo Batalha argued that the “Green Visa” could create more risks since they are not clearly defined, nor is the procedure to certify that these investments are being made. “If approved on a second, final vote, this could create even more risks, beyond those that have been identified by Transparency International, without even ensuring that the investment is, in fact, coming into the country”, he concluded.
The Portuguese Golden Visa offers residency to foreigners, who invest in real estate properties, set up tech companies and create new jobs. A residency in Portugal permits one to travel throughout the whole Schengen Area and further.
The European Commission has been warned on the possibility of these visas to be misused by criminals and the corrupt. That is why the Commission is planning on guiding the member states that run such schemes on how to manage them, including background checks for applicants.
About Portugal Homes
PortugalHomes.com specialises in selling Holiday Homes and Investment Properties. We help buyers find the right property overseas whether it be for Golden Visa, NHR, Investment or simply a place in the sun, our properties are selected with great thought in mind to give our clients the best opportunities, we offer the complete service from Introducing them to Legal Representatives, Currency Exchange, Mortgage Advisors, Property Management, Rental and Furniture Packages along with making sure all our staff are trained to fully understand the buying process and taxes for every scenario, we provide the complete service to anyone looking to buy a new or resale property overseas for holiday use or as a short or long-term investment.
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Whether you want a holiday home or an investment property, we select the best units for your profile and take care of all the process from start to finish. Even after the sale! Our After Sales services assume the responsibility of furnishing your property at your taste, taking care of the property in your absence, managing the rentals if you wish to rent your property when you’re not in Portugal and so much more!
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Thanks to Andrea Leite for the comprehensive and timely updates on the construction progress of the new development we purchased!Investor from the USA
Ryan was an excellent real estate agent, he really steered me in the right direction based on what I said was important to me. Living in another country, I wasn't as familiar with the city as he is. Where I thought I wanted to live and what I truly wanted were not the same. He took the time to listen and figure out the best spot for me, and we are very happy with it - far more than we would have been elsewhere.Investor from the USA
The overall experience was great from follow up to After Sales. I would like to give special thanks to Mr. Simon, Ms. Francisca and Ms. Mariana.Investor from UAE
George Hobson is a pleasant young man, came across as knowledgeable, experienced, hardworking, honest & disciplined; I felt very comfortable in easily making my investment.Investor from UAE
Luísa is a very understandable person, she knew exactly what we were looking for and even showed us and gave us more choices to pick from. Very professional advice, hospitality and service.Roshana (Zulfiqar) Mian | Hong Kong
My property advisor, Mathew McGurn, was truly excellent! His knowledge, professionalism and attention to details was much appreciated. He worked hard to not only find a property that fit all my requirements, he negotiated successfully with agents making sure my offer won over other buyers bidding for the same property. In addition, his communication skills, prompt response time and general help with my getting settled in Portugal went above and beyond the normal.Investor from the USA