Recently, rumors regarding changes to the Portuguese immigration policy have been rampant. Many unscrupulous agencies have been sensationalizing these rumors to close deals, misleading investors and providing them with incorrect information. Regarding whether the Golden Residence Permit application process has changed, let us hear the professional insights from a senior foreign immigration lawyer at the Worldway Portugal branch.
Q: We have heard reports from some Portuguese media stating that the immigration office will require future Golden Residence Permit applicants to submit proof of source of funds. Is this true?
Lawyer: After the Golden Residence corruption case, the government has reflected on the matter and believes it is necessary to further improve the application process for the Golden Residence program. It is very likely that applicants will be required to provide proof of the legal source of funds in future applications, but we have not yet received an official notification from the immigration office requiring this document. Judging from recent application trends, the processing speed of the immigration office has slowed down, and the office is becoming more cautious during the review process.
[Worldway Introduced the Golden Residence Policy to China]
Q: It is rumored that the immigration office has stricter requirements for proof of financial independence for dependent applicants. Previously, only 1-2 bank statements were required. Now, the immigration office requires more frequent, regular bank statements that must be stamped by a community authority for verification. Has the immigration office issued any new documents regarding this requirement?
Lawyer: Naturally, the more comprehensive the bank transfer records, the better. We have always required dependent applicants (parents of the main applicant) to provide a notarized statement from the Chinese social security department to prove that the dependent applicant has no pension or other sources of income. We have not yet received any official notification regarding changes to these document requirements.
Q: It is said that according to the latest requirements from the immigration office, renewal applicants need to submit their old cards to the immigration office before new Golden Residence cards can be produced?
Lawyer: There is no need to submit the old card in advance. Once the applicant's new card is produced, the old card is simply exchanged for the new one.
Q: A situation has recently emerged where the immigration office requires applicants to submit a new criminal record certificate. Due to the slower processing speed of the immigration office, some applicants' criminal record certificates have expired during the review process. Does this situation exist?
Lawyer: Last year, Golden Residence Permit applications could be approved by the immigration office in 2-3 weeks. This year, the number of applications has surged, and the immigration office has become stricter in its reviews. The processing cycle has increased from 2-3 weeks last year to 4-8 weeks now. In very rare cases, some applicants have indeed remained under review for more than 2 months. Consequently, there have been instances where a new criminal record certificate was requested, but this is very rare.
Q: In your opinion, will the immigration office modify or adjust the application conditions and requirements for the Golden Residence policy in 2015?
Lawyer: Judging from the application situation in 2014, there has been a significant increase in the number of applicants. On one hand, the immigration office will likely increase personnel to improve the backlog in processing; on the other hand, relevant processes will be optimized, and new requirements for the application conditions and materials for Golden Residence applicants may be introduced. Before receiving an official notification from the immigration office, it is difficult to speculate on what specific reform measures will be taken, but relevant adjustments and reforms are already a consensus within the Portuguese government, so there is a high possibility of adjustments in 2015. Let us wait and see.
Worldway European immigration experts point out that although there have been no major changes to the application process for the Golden Residence policy at present, the slowdown in immigration office processing is a clear signal of change. As of early December 2014, 1,936 people had been granted Golden Residence permits, including 1,561 Chinese investors. It is expected that the total for 2014 will exceed the 2,000 mark. In contrast, the total number of approvals for the entire year of 2013 was 494. This demonstrates the appeal and popularity of the 2014 Golden Residence program. With the increase in the number of immigration applications and the growing calls for reform, the possibility of minor policy adjustments is extremely high. Therefore, we encourage investors to seize this once-in-a-lifetime opportunity for investment immigration.
