Golden Visa

Today, the Draft Law that extend the legislative authorization provided for in the State Budget for 2020 was approved.

This Proposal defines the terms under which the Government may revise the Gold Visa regime (Residence Permit for Investment).

Thus, the Government may, during 2020, limit the possibility of real estate investment to the interior territories and the Autonomous Regions of Madeira and the Azores.

In relation to other possible types of investment, they may also undergo changes, for example, by increasing the minimum value of investments.

The possible changes will only have an impact on the processes initiated after the approval of the changes to the new regime. Thus, the change will not harm the processes already started.

The rules for the renewal of proceedings initiated under the current regime, both for Principal Applicants and for family members remain after the entry of the new regime.

Chinese investment raised, through Golden Visas, was 2.529 billion euros since the beginning of the Portuguese Residency by Investment Programme in 2012.

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Portugal is the best country when it comes to the friendliness of the local population towards foreign residents, according to the respondents of the “Expat Insider Survey” made by Internations.

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Portuguese family businesses are Europe’s second most optimistic and confident about the success of its business and economy over the next 12 months.

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Between the 179 Tech Visa Certified companies, 100 have already issued terms of liability to hire 695 foreign workers.

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The “AMIGOS Act” allows Portuguese citizens access to E-1 and E-2 visas, reserved for people who wish to enter the United States to trade or do significant investments.

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Foreign investment in residential real estate amounted to nearly 350 million euros in the first half of the year, according to Confidencial Imobiliário. Their average value is almost 500 thousand euros.

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So far this year, 1,099 main applicants and 1,941 of their family members have received residence permits in Portugal under the program.

The overall investment in the program grew by 24% in October, to about EUR 60 million.

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The current political and social instability in Spain has triggered an avalanche of tax consultations to bring Spanish citizens fortunes to Portugal. Spanish millionaires are already studying the possible transfer of their wealth to Portugal for fear of fiscal policy change due to a new government – the Spanish newspaper El Economista says.

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The number of former residents returning to Portugal continued to rise in 2018, while the number of Portuguese leaving the country retreated for the fifth consecutive year, according to recently released INE (Statistics Portugal) demographics data.

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