Golden residency visas only for property in interior, Azores, Madeira

By TPN/Lusa, in News · 29-01-2020 17:00:00 · 0 Comments

The Socialist Party has submitted a proposal for an amendment to the budget in which it limits the granting of Golden residency visas to property investments made by foreigners in the interior of mainland Portugal or the Azores and Madeira.

This measure was announced by the leader of the Socialist group, Ana Catarina Mendes, at a press conference in Parliament, during which she stressed that the end of Golden visas for real estate investments in areas such as Lisbon and Porto "will obviously not have a retroactive application".

"We believe that a response should be given to property speculation. This is why we are presenting a proposal to amend the Gold visa scheme. As of this year, only those who make investments in the interior of the mainland or the Azores or Madeira, as well as those who create jobs in the country, are entitled to Golden residency visas".

"With this measure, we seek to remove pressure on the real estate market that exists in the metropolitan areas of Lisbon and Porto.

The end of Golden visas for foreigners from countries outside the EU who invest €500,000 in Portugal in the real estate market has been insistently demanded by associations linked to the fight against money laundering and by parties, especially the Left Bloc.

The proposal presented by the Portuguese Socialist Party allows Gold' visas to continue to be granted to investors who create jobs in the metropolitan areas of Lisbon and Porto, or in cities along the country's coast.


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