On February 16, Portuguese Prime Minister Antonio Costa announced at the Portuguese Cabinet Ministers' Meeting that the Portuguese "Golden Residence Visa" investment immigration program will be officially cancelled!
This means that the era of the Portuguese Golden Visa is coming to an end.
#01
Portugal to close golden visas
Portugal, another European country favored by migrants, is ending its golden visa scheme for new foreign homebuyers to address a shortage of affordable housing following the shutdown of investor immigration in Ireland.
After obtaining the approval of the Council of Ministers on February 16, the Portuguese government decided to close the golden visa.
focus
The meeting clearly pointed out that the approved golden residence card will be evaluated when the card is renewed. If the property is used for self-occupation or rental, the golden residence card can continue to be held.
The Portuguese government stated that the specific implementation rules will be discussed in the next month, and the government will announce the transition period and stop date on March 16.
As early as November last year, Portuguese Prime Minister Costa said that the ten-year golden visa has fulfilled its due duties and completed its historical mission, and is discussing the closure of the golden visa.
#02
European investment immigration policy changes successively
move and cherish
Not only Portugal, but also many European countries have shown a common signal that the "golden passport" immigrant permanent residence project may be about to change.
Recently, according to EUN News Agency, the EU Civil Liberties, Justice and Home Affairs Committee released the latest draft, listing a series of measures to solve problems related to "investment plans to obtain citizenship and residency rights".
In the end, the committee adopted the draft text with 61 votes in favor, 3 votes against and 5 abstentions. The committee called on member states to phase out all "golden visa schemes" that did not meet the legal requirements of the EU.
According to the latest plan, the EU is likely to close down the investment immigration program in 2025! Some EU Golden Passport programs are currently closed.
On the whole, the end of the golden passport and visa program is inevitable, and the policies of various countries have been gradually tightened. The only question is when it will be terminated.
European project window shrinks
Immigration needs to be done early
Hungary: In 2017, the government bond investment residence program was terminated.
Cyprus: In November 2020, the citizenship by investment program will be terminated.
Malta: In 2020, the individual citizenship by investment program was announced to be closed.
Portugal: In 2021, the housing purchase immigration policy in Lisbon and Porto will be terminated.
Spain: Increased anti-money laundering investigations.
United Kingdom: In February 2022, the T1 investment immigration project will be cancelled.
Greece: Announced that the minimum investment amount will be increased to EUR 500,000 on May 1, 2023.
Ireland: On February 15, 2023, the golden visa will be closed.
Portugal: On February 16, 2023, it was announced that the golden residence visa will be cancelled.
Any immigration project has a life cycle: promotion—stabilization—price increase (or raising the application threshold)—closing, real estate, investment, and immigration, all of which are moved sooner rather than later.
At present, you only need to purchase real estate of more than 280,000 euros to obtain Portuguese residence status and enjoy a high-quality living environment in Europe, generous benefits, and excellent educational and medical resources.
For immigrants, there is generally a window of several months before the policy is implemented. Interested investors must seize the opportunity and catch the last train of European house purchase immigration! Welcome to Xingyunhai International~
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