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.
To find out more, please contact us:
Portugal Homes has very experienced and knowledgeable professionals working with some of the most established and reputable developers Portugal has to offer. Our vast experience allows us to guide you through the best investment choices.
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!
To learn more about the Portuguese Non-Habitual Resident Program and our After Sales services, please fill the form below.
It's fantastic how Ryan had complete knowledge regarding Lisbon and dealt with us in a great manner.Akbar Ali - Investor from Pakistan
Ryan is very professional, but also friendly and knowledgeable about the Golden Visa market. He was also flexible as travelled from the Algarve to meet me in Lisbon to stand in for 1 colleague at short notice.Investor from UK
Portugal Homes did a great job keeping me up to date with progress on my new home construction purchase by providing regular and comprehensive reports. This helped to ease anxieties about doing a home purchase in the midst of a global pandemic.Investor from the USA
Although through Zoom, we established great confidence in George's integrity. [It was] important for us to have confidence in the staff's ability to feel aligned in views.Donald Collie from Australia
The process was very quick and clear. I got all the information I needed in the first hour. The experience was perfect.Tomoko Inoue from Japan
Overwhelming. Luisa has exceeded our expectations on all levels. Trust was established immediately. Enhanced by super friendly professionalism. The networks to banks, accountants, lawyers was seamless. there is not enough space here to write all the positives, enough to say we are making an offer and we only arrived 4 days ago. Its impossible to improve from perfection!John Mulroe and Wiebke Bock