The Portugal Golden Visa programme is once again accepting new applications, following a five-month freeze, notes Sable International. The programme is popular among South Africans looking for an exit, with 416 visas issued to local investors by the end of 2021.
Portugal’s Golden Visa Residence Programme was introduced in 2012 to fuel real estate investment and the growth of the Portuguese economy. The programme offers qualifying applicants EU residency rights in exchange for a significant investment in the country. So far, it has brought in over €6 billion.
Instead, Sable International said that the programme was adjusted to encourage investments inland in rural or low-density areas and on the islands of Azores and Madeira with the investment into Private Equity Funds increasing to €500,000. “Other theories posited that the Portuguese government might have been scaling back on Golden Visas intentionally, following proposals from numerous political parties to end the programme.”Sable International said that recently, the European Parliament has been discussing an end to all Golden Visas.
Ensuring that third countries do not administer harmful residency- and citizenship-by-investment schemesEarlier this month, the Portuguese government restated its commitment to the Golden Visa programme and offered assurance that it has no intention of making any changes at the moment. The ARI platform is since up and running again and SEF reopened its calendar to applications submitted in 2021 on 24 June, 2022. Investors can now rest easy knowing that investments can now continue as usual.
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