The sudden outbreak of the novel coronavirus has not only captured the attention of the entire Chinese populace but has also drawn global attention. Meanwhile, in the immigration sector, a significant change in Portugal's real estate immigration policy has recently garnered widespread interest from investors.
On February 5, local time in Portugal, during discussions on the 2020 national budget, the Portuguese Parliament passed a proposal to limit the issuance of Portugal's Golden Visa to property investments in inland cities or the Azores and Madeira archipelagos, meaning that purchasing property in Lisbon and Porto may no longer qualify for the Portuguese Golden Residence Permit.
Since its launch in 2012, the Portugal Golden Residence Permit program has attracted significant global investor interest due to its stable policies, simple procedures, eligibility for three generations of residency, minimal immigration monitoring, and convenient naturalization process. Investors can purchase properties starting from €350,000, allowing their entire family across three generations to apply for the Portuguese Golden Residence Permit, enjoy travel across 26 Schengen countries, and acquire properties with permanent ownership. Consequently, the number of applicants for the Portugal Golden Visa has remained consistently high.
The purpose of the budget proposal's amendment to the Golden Visa legislation is to address the issue of concentrated investment by immigrants in the two major cities of Lisbon and Porto, which has led to excessive housing pressure, thereby encouraging the allocation of funds to areas with slightly lower population density and urban redevelopment zones.
Currently, the 2020 national budget of Portugal has been passed by vote, which means the government has the authority to modify the Golden Visa legislation at any time. However, whether the government will ultimately amend the Golden Visa legislation remains uncertain. Therefore, there is still a window of opportunity for those interested in investing and immigrating to Portugal; it is advisable to act quickly and apply early to reap the benefits.
At present, the situation regarding the prevention and control of the novel coronavirus remains severe. WorldWay Immigration reminds all investors with travel plans around the Spring Festival to strengthen safety measures. Epidemic prevention must start with ourselves! Protecting oneself is the greatest contribution to family, team, and society!
WorldWay Immigration has fully launched an online working model, including online consultations, online submissions, and online customer service! During the epidemic, we only isolate the virus, not our services! If you have any inquiries, please feel free to call the WorldWay Immigration consultation hotline! Mainland China: 400-138-2929; Hong Kong: (852)2802 8798.
