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LISBON (Reuters) - Portugal plans to adapt its golden visa scheme to allow wealthy foreigners seeking residency rights to invest in affordable housing for locals or accommodation for migrants, the ...
The scheme began in 2012. [6] [7] By 2024, the country has received 7.3 billion euros of funds through the program.[8]In August 2019, according to SEF, Chinese investment in Portugal under the scheme was down during the first eight months of 2019 a decrease of 15.7 percent from the same period of 2018.
Portugal isn’t alone in walking back its attractive residency route for the wealthy—Spain recently announced it would scrap its golden visa in a bid to make housing affordable again.
Another program is the Golden visa law, devised in 2012. It is an immigrant investor program by the government of Portugal that granted residency in Portugal to people who invested in properties worth at least €500,000 or created 10 jobs in Portugal. [ 115 ]
The EB-5 visa program, which is also called as the Golden Visa program, requires applicants to invest between US$900,000 and US$1.8 million, depending on the location of the project, and requires at least 10 jobs to be either created or preserved. [41] [42] There is an annual cap of 10,000 applications under the EB-5 program. [43]
Available public data on golden visa applicants and investments is "scarce, scattered, and limited," note Laure Brillaud and Maíra Martini of Transparency International EU, an anti-corruption ...
The Henley Passport Index is a global ranking of countries according to the travel freedom allowed by those countries' ordinary passports for their citizens. [3] It was launched in 2005 as Henley & Partners Visa Restrictions Index [4] and was updated to Henley Passport Index in January 2018.
Last October, the Portuguese government said it was scrapping its non-habitual resident (NHR) program, which gave those who were tax-resident in Portugal special tax breaks for a period of 10 years.
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