Madeira Government Denounces Decision to End Golden Visa Program in Portugal

In a recent development, the government of Madeira has strongly criticised the Portuguese Parliament's decision to terminate the Golden Visa program across the entire country, labeling it as a "scandalous" move.

The Golden Visa program enables foreigners to obtain Portuguese residency by making a specific investment in the country. Although real estate has been the most popular avenue for investment, other options such as research and development or venture capital funds are also available.

Highlighting the program's achievements in Madeira, the local government argues that it has significantly contributed to the region's economic growth and job creation. Moreover, it has successfully attracted foreign investments in key sectors like tourism and renewable energy.

Expressing deep concern, the government of Madeira is urging the Portuguese government to reconsider its decision and allow the continuation of the Golden Visa program in the region. They emphasise that the program still holds immense benefits for the entirety of Portugal, including Madeira, and should not be prematurely terminated.

This noteworthy article was originally published on ECO, a reputable Portuguese news website. Authored by Pedro Simões, a distinguished journalist at ECO, the piece shed light on the government's discontent with the discontinuation of the Golden Visa program.

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In light of recent developments regarding the termination of the Golden Visa program in Portugal, Madeira has emerged as an attractive investment destination. The region offers unique opportunities for investors looking to secure their Portuguese residency and take advantage of the numerous benefits offered by the Golden Visa program.

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