BLACK FRIDAY FOR GOLDEN VISA? WILL IT REAL BLACK

  • 17 February, 23

Following a press conference on Friday 16th February from the Council of Ministers, presented by the Prime Minister, António Costa, accompanied by the Minister of Housing, Marina Gonçalves, and the Minister of Finance, Fernando Medina, we all hear their announcement about the first proposal presented by the Government to public, the MAIS HABITACIONES- MORE HOUSES package solution.
Among 5 pillar topics in MAIS HABITACIONES, such as:

• INCREASE THE OFFER OF HOUSING PROPERTIES
• SIMPLIFY LICENSING PROCESS
• INCREASE HOUSE IN THE RENTAL MARKET
• COMBAT SPECULATION
• PROTEC FAMILIES

It is noticeable that pillar 4 in this proposal “Combat speculation” doesn’t provide much information about the plan of Ending the Golden Visa program. The Combat Speculation mentions:

Combat Speculation

End the Gold Visa regime.

In this context, it is intended to ensure that the renewal of already allocated visas every two years only occurs if:

  • the property is registered as the Own and Permanent residence of the Property Owner or Descendant
  • in case the Own and Permanent Property is entered into a lease contract, then the lease time is no less than 5 years

It is important to take a notice that, this preliminary proposal will be given 1 month time for public discussion until the 2nd hearing, which will be taken place on 16th March, where the stakeholders are invited to give their opinions about the MAIS HABITACIONES plan. Following after the public hearing, the final draft of proposal will be revised and presented to the Parliament for Vote. Only when the Parliament vote to approve the proposal, then it will be submitted to the President for signing.

From today until the next several months there will be some changes adding to the final draft, and as we seem to see things are being more clear about the intention of the Government, at Mercan we will take an active role this month and present a solution for a proper transition time, and to our goal, is to be able to convince the Government to make the transition time as furthest as possible for the last passengers in this journey.

So, the Future of Golden Visa Program is really NOW!

We are Open for any discussion from now on about the investment and our plan to support you in case of any scenario happened.

For more information about the procedure for a proposal to be a law, you can also visit IAS website to get to know details: https://iaservices.pt/en/news-insights/2023/02/16/preliminary-proposal-to-amend-the-immigration-law-and-the-golden-visa-regime”

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