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The objective of this golden solidarity visa is to channel private investments into projects to support vulnerable immigrants, promoting integration and social acceptance, however, final details about the visa have yet to be finalised and confirmed by the government.
How does the solidarity gold visa work?
According to a report by idealista, the solidarity golden visa is a new modality that will allow foreigners to obtain a residence permit in Portugal by investing 250 thousand euros in social projects. This investment will be allocated to infrastructure and equipment to support the integration of immigrants in vulnerable situations. Unlike the traditional golden visa, there is no financial return for the investor beyond residency.
According to Luís Montenegro's Executive, the objective is to “Create an instrument for channelling private capital for social investment in immigrant integration projects”, specifically “Residence Permits for Social Investment – a change in relation to the scope of Residency Permits for Investment (ARI), to include investments made in equipment and reception infrastructure, integration projects and support for immigrants in vulnerable situations”.
How much does a solidarity golden visa cost?
As stated, the solidarity golden visa is a new type of residence permit, focusing on investments in social projects. The main objective is to direct these resources towards affordable housing and supporting vulnerable immigrants, in order to alleviate pressure on the housing market and ensure more affordable housing options for the local population. Investments can be applied to initiatives that promote the integration of immigrants, such as reception centers and other social support infrastructures.
As for its cost, it is estimated that obtaining this golden solidarity visa will involve an investment of 250 thousand euros. However, the Government has not yet officially defined the minimum amount required, but wants this amount to be lower than that of other types of visas, making it more accessible and attractive to investors.
How can requests for the solidarity golden visas now be made?
Although there is still no specific date for this measure to come into force, the golden solidarity visa promises to bring multiple benefits to Portugal, by channelling capital towards social and housing projects, reinforcing the integration of immigrants and promoting an image of responsible and sustainable investment in the country.
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If the prior golden visa program was unpopular with the Portuguese population, wait until the government hears the response for a program that gives foreigners carte blanche to make illegal migration into Portugal easier. It's a bit of a bad joke.
By Paul from Lisbon on 17 Nov 2024, 11:06
I understand the principle, but for people looking to move to Portugal an investment of 250k Euros just for just residential status is very unlikely to attract anyone but the very rich.
Shame for people who love the country but add £250k on top of somewhere to live and it doesn't work.
By Ian Morton from UK on 17 Nov 2024, 17:15
There have been several initiatives over the years,aimed at forigners, and now tax reductions to try to keep qualifies students here.
How about capping it all off with redu ING taxes for those of us who have had nobreaks since day one and have contributed fully to this country, and never had a tax reduction, not ever.
By Paul DeCourcy from Lisbon on 18 Nov 2024, 09:21
The information in this article is a little thin. If one must invest €250k in social projects and social infrastructure, what is the return for the investor? Also, does this residency grant full rights to work (if the investor wants to) and the ability to join the Portuguese national health system? Lastly, does this residency mean that after five years an investor can apply for citizenship? Thanks.
By Grant from Other on 18 Nov 2024, 20:32
In one of the paragraphs about it says that there is no Financial return so it is a gift and I think it is very nice of anyone to think that $250,000 is such a small amount of money that people can just throw it .........
I don't think that will be many takers for this new form of GV after all , all this while a GV based on Film Production which is another gift has been existing and only one application has been registered
By Roma from Porto on 20 Nov 2024, 11:43
If there's no return, then it's an expense, not an investment, and the people putting up this money aren't 'investors' in the traditional sense. It's not certain they will even get any of their money back, judging by what the article says. So it looks like a residency visa is being sold for €250,000 with only residency being offered in exchange. At that price, you'd need to be pretty desperate to want to live in Portugal, and its high price will limit it to exceptionally small numbers of people.
By Billy Bissett from Porto on 23 Nov 2024, 12:56
This new golden visa program is going to be an opening for very rich criminals to move here. To them 250k is a mere pittance to give away for seemingly no return, whereas 250k to a genuine normal person wanting to come to Portugal is huge. Definitely a nice opening for the rich underworld!!
By L from Lisbon on 24 Nov 2024, 09:42
Another money laundering scheme, from the pockets of rich foreigners (let's not look too closely how they got their money) via Government into the hands of enterprises selected by Government, possibly without tendering or competition, for dubious outcomes. Opportunities for corruption will be baked in. Meanwhile, more immigrants who need State support. How about not letting anyone in without a required profession / money in the bank and/or a job offer?
By Nick Bowles from Beiras on 24 Nov 2024, 10:24