The Socialist Party rejected the Portuguese Communist Party proposal to cancel the Golden Visa Program despite the Prime Minister, António Costa stated that the government is evaluating the possibility of ending the Golden Visa program.
The proposal was rejected in the State Budget 2023 with the votes against Social Democratic Party.
Important to understand, that it is not the first time that the end of the Golden Visa has been voted down in the Portuguese Parliament, however this topic is being discussed every year. Nevertheless, we highly recommend all interested investors not to postpone the process, as we got another year of Golden Visa Program in Portugal, which gives you and your family an opportunity to get EU residency.
The Portugal Golden Visa program, also known as the residence permit for investment activity, is a residency by investment scheme designed for non-EU citizens. It is the fastest program to obtain EU residence permit through investment activity in Europe. The initiative was set up by the Portuguese government in 2012 to boost the economy through foreign investments. It works by granting investors Portuguese residency for investment in different areas of the country.
Contact DRP Advisers for more information about relocation, Golden Visa and real estate in Portugal.
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