Madeira President Urges Portuguese President to Keep Golden Visa Program in the Island

Source and image: https://www.dnoticias.pt/2023/4/17/356316-albuquerque-escreve-carta-a-marcelo-a-pedir-mais-nove-anos-de-vistos-gold/

In a recent article published by Diario de Noticias, Miguel Albuquerque, the President of Madeira's regional government, has written a letter to the Portuguese President, urging for the extension of the Golden Visa Program in the island.

The program offers residency to foreign investors and has already been extended to the mainland. Madeira's President is advocating for equal treatment for the region.

The extension of the Golden Visa Program in Madeira has the potential to bring in an estimated €540 million in foreign investment, which could significantly boost the local economy and create job opportunities for the people of Madeira.

This latest move by the Madeira President comes amidst discussions in the mainland about the possibility of cancelling the program due to concerns about the high real estate prices, corruption and money laundering. However, these concerns have not been associated with the program in Madeira.

The Latest News about Portugal Golden Visa Cancellation

The Golden Visa program has been a significant source of foreign investment in Portugal since its introduction in 2012, with the majority of applicants coming from USA, China, Brazil, and South Africa. It is the fastest program to obtain EU residence permit through investment activity in Europe for you and your family.

The government of Portugal is expected to make a decision on the future of the program in Madeira in the coming weeks. In the meantime, the request by the President of Madeira has created a buzz among investors who are interested in exploring investment opportunities in the region.

If you are interested in exploring the possibility of obtaining a Golden Visa in Madeira or any other region of Portugal, contact us at DRP Advisers.

Our team of experts will guide you through the process and help you make an informed decision.