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Portugal is about to end its famous Residency by Investment program, also known as Golden Visa!
Although Portugal’s Residency by Investment Program (RIP), or Golden Visa, is one of those most sought by wealthy foreigners, it’s nearing its termination, according to the country’s government.
Portugal’s Prime Minister, Antonio Costa, said this week that the country is considering abolishing its popular but much-criticized 10-year-old Golden Visa scheme because it seems to have fulfilled its function.
The scheme has attracted more than €6.5 billion in investment by foreigners, mainly from China, Brazil, South Africa, and the U.S., with the bulk of the money used to buy real estate.
So what does this mean for you?
Basically, if you’re considering getting a Portuguese Golden Visa NOW is the time to act. If you don’t act immediately you may never have the chance to apply, as we don’t know when exactly it will be shut down.
However, if you’ve already invested and you’re in the process you should be safe.
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Author: Michael Rosmer
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Do you know if the NHR would be zero tax for digital nomad coders?
Socialists are always gonna be socialists. This was to be expected
I always say this😊The Caribbean is the only place you can call home.
This basically gives Bulgaria’s program a monopoly on the market for golden visas that lead to citizenship with no physical presence.
I’ve heard the EU is suing Malta due to their CBI program; do you see programs like Malta’s becoming completely banned by the EU?
Out of curiosity, why can’t EU or Swiss nationals get golden visas in Europe?
Whenever I read about golden visas online is always says that they are exempt from the program.
Is the retirement visa going to be affected as well?
Is the NHR scheme ending?
Yes… too many foreigners here now… all drinking our wine and eating our Pastel de Natas! Close the gates; now we are here! 😂 Thank you for your help! We are learning Portuguese and want to get the burgundy passport in 5 years.
One thing is clear – Jack could afford it
Hey, if a person is already a european citizen but they wanted to get portuguese citizenship with little residence requirement… I understood the golden visa leas to naturalization with very little residence requirement of few weeks a year. Is the program available for european citizens or its impossible since we already have residence right in portugal and only way for us is to reside there 6 months a year etc… Please answer as time is narrowing down for the program