Portugal refuses to abolish the Golden Visa Program

  • Home >
  • News >
  • Portugal refuses to abolish the Golden Visa Program

Portugal refuses to abolish the Golden Visa Program
Reading time: 3 minutes
Published: 22nd January 2019, 4:50pm

Portugal Not Only Refuses to Abolish the Golden Visa Scheme But Also Expands It With ‘Green Visas’

The Parliament of the Portuguese Republic has turned down a bill proposed by the opposition parties to abolish the Golden Visa Program

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.

Find your dream property for sale in Portugal!

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.

Source: www.schengenvisainfo.com 


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 VisaNHR, 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 RepresentativesCurrency ExchangeMortgage AdvisorsProperty ManagementRental 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:

23rd January 2019
With Brexit incoming, Portugal welcomes British citizens The Portuguese…
8th January 2019
Portugal's Golden Visa program is showing strong growth in investments…

Buying Property in Portugal

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.

Thanks to Andreia Leite for the comprehensive and timely updates on the construction progress of the new development we purchased!

Investor from the USA

Very helpful. Work with his heart. Mark is a very nice advisor. 

Investor from Morocco

Everything was perfect. I got all answers about my questions. 

Investor from Turkey

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