The end of golden visas is part of the Mais Habitação program, approved by the national executive in March and last week in general in the Assembly of the Republic, which is now going to be discussed further.
The proposal also makes some adjustments to the renewal of visas already assigned (every two years) and determines that "new applications for residence permits relating to investments or support for artistic production, recovery or maintenance of the national cultural heritage on which prior to the entry into force of this law, a declaration has been issued by GEPAC (Office of Cultural Strategy, Planning and Evaluation)".
The President of the Government of Madeira, Miguel Albuquerque (PSD), has stated that the end of golden visas for the acquisition of real estate should occur “in line with the interests of the country”, which are not necessarily those from Lisbon and Porto.
Criticising other Mais Habitação measures – such as the prohibition of new local accommodation licenses, which the Government announced in the meantime did not apply to the islands and dozens of low-density municipalities on the mainland -, Miguel Albuquerque considered that golden visas are being used as a "scapegoat".
"The reality is this: we want to keep the golden visas here, in Madeira, we understand that it is good for the growth of high-income real estate", said the social democrat, who sent the Prime Minister and the President of the Republic a letter with the refusal of some measures.
“If we need high-yield investors, why not keep going? By the way, it is necessary to remember that the golden visas do not only have to do with the issue of housing acquisition. They also have to do with a very important component, which is to bring scientific know-how and technological innovation to Madeira”, he said.
The President of the Government of the Azores, José Manuel Bolieiro (PSD), who had not yet spoken publicly on the issue, said that the two archipelagos have a joint position on the matter.
"The Regional Government is in favour of the continuity of the golden visas and any change must deal specifically with the Azores and Madeira".