Major positive news for Portuguese immigration! Following the Portuguese Prime Minister's announcement of a gradual reopening plan starting March 15, several senior government officials have recently announced a package of new economic support measures covering areas from taxation to employment, tourism, culture, and sports.
Portuguese Minister of Economy Pedro Siza stated: "In total, this support exceeds 7 billion euros, of which 1.16 billion is non-repayable support for companies, as well as additional support for sports and culture." Pedro Siza noted that 16% of the total support does not need to be repaid. In addition to this support, tax payments of up to 6 billion euros have been deferred.
Tax Deferral
In the field of taxation, the government has resumed some measures taken last year to alleviate the burden on businesses and families, allowing for the deferred payment of certain taxes. Furthermore, monthly and quarterly VAT can be paid in three or six installments without interest. For companies in the catering, accommodation, and cultural sectors, they may suspend the payment of IRS and IRC taxes. According to Secretary of State António Mendonça Mendes, this measure involves 6 billion euros in taxes.
Support for the Tourism Industry
Due to the forced closure of most tourist accommodation businesses, restaurants, and cultural and tourism activities, the government has adopted new support measures for the tourism industry. In addition to a package including employment support, the industry will have more flexibility in complying with tax obligations.
The Secretary of State for Tax Affairs stated that regarding monthly VAT, between March and June, companies in the catering, accommodation, and cultural sectors can pay taxes in 3 or 6 monthly installments. Additionally, at the IRC level, payments are permitted in the same manner.
At the same time, the government has decided to launch a new credit line worth 300 million euros and announced a 9-month extension to the grace period for credit lines with state guarantees, which will automatically take effect for the most severely affected sectors, such as tourism.
Reopening of Applications for Business Support Programs
Starting from the last week of March (March 25), companies can re-apply for the Apoiar program, which provides non-repayable support to businesses that have lost at least 50% of their turnover and are experiencing ongoing impacts. The maximum support limit has been increased, ranging from 7,500 euros for sole proprietors to 253,125 euros for medium-sized companies. Other industries are also included, such as bakeries, pastry shops, and fireworks companies.
As a livable and tourist-friendly country in Europe, Portugal meets the needs of many people in terms of food, clothing, housing, transportation, tourism, and investment. An increasing number of people are choosing to go to Portugal for various reasons, including tourism, immigration, investment, and study. According to the latest Golden Visa data released by the Portuguese Immigration and Borders Service (SEF), in February 2021, a total of 100 main applicants and 135 dependent applicants were approved for the Portuguese Golden Visa. The number of approved main applicants nearly doubled compared to the previous month! The total investment amount for the Golden Visa in February was 52.318 million euros, an increase of 58% compared to the previous month. This figure also hit a new high since September of last year! This shows that Portugal is highly popular among immigrant investors.
Currently, through the Portuguese Golden Residence Permit Program, investors can purchase properties that are over 30 years old or located in urban rehabilitation areas and renovate them for a total value of over 350,000 euros; or purchase real estate (including land resources, residential properties, commercial properties, etc.) with a value of no less than 500,000 euros. This allows the whole family of three generations to apply for Portuguese Golden Residence status, enjoy generous social benefits and high-quality educational resources in Portugal, travel freely across 26 Schengen countries, and obtain citizenship easily. After meeting the conditions, they can apply for Portuguese citizenship, obtain a Portuguese EU passport, and also acquire real estate with permanent property rights. It is truly a multi-benefit solution!
Countdown to Real Estate Immigration in Lisbon and Porto
Investors Rushing to Enter the Market
According to Article 14 of the 2021 law promulgated by the Portuguese government, starting from January 1, 2022, immigration to Portugal through the purchase of residential real estate will be limited to inland areas, the Madeira Islands, and the Azores. For the two popular investment cities favored by Chinese investors, Lisbon and Porto, they will no longer qualify under the Portuguese Golden Residence Act according to the new policy. Investors who intend to invest in real estate in Lisbon and Porto to obtain status and apply for an EU passport must seize the final few months of the "window period," rush to enter the market, and catch the "last train" for real estate immigration in Lisbon and Porto.
Worldway Group, one of the Top 500 Asian Brands, as an immigration agency that promoted the Portuguese Golden Residence Program in China early on, has partnered with powerful Portuguese developers to introduce numerous high-quality Portuguese immigration projects to investors, such as the Santa Barbara apartments and shops, Greca Phase 2 apartments and shops, and the 100-acre manor in the Greater Lisbon area, helping investors catch the last train for real estate immigration in Lisbon and Porto!
High-Quality Property Recommendation [Santa Barbara Apartments and Shops]
◆ A rare project that meets the 350,000 euro immigration policy, with high cost-effectiveness
◆ Located in the core area of Lisbon city center, with a concentration of businesses
◆ Convenient transportation, with direct subway access to the airport
◆ Brand new, exquisitely decorated with a stylish design
◆ Surrounded by restaurants and cafes featuring flavors from around the world, offering convenient living
The project is located in the ANJOS community in the center of Lisbon, which is an important part of the old city center. This area is a hub for businesses, integrating traditional and modern commerce, with numerous local and international restaurants and cafes concentrated here. The project has convenient transportation, with quick access to Lisbon Airport by car, and a subway line that goes directly to the airport. It is close to the ANJOS station of the Lisbon Metro Green Line, Avenida da Liberdade, Rossio Square, and Marquês de Pombal Square, all within walking distance.
Project Renderings (The following images are for reference only; actual delivery shall prevail)
As a Top 500 Asian Brand and an organization focused on investment immigration for over 20 years, Worldway Group was one of the first immigration agencies in China to promote the Portuguese Golden Residence Visa program in October 2012. In April 2013, it partnered with the Embassy of Portugal in China to hold the "Portuguese Golden Residence Program Launch Ceremony," introducing the Portuguese Golden Residence Program to China and helping numerous investors realize their dreams in Portugal.
For more details, please consult the Worldway Group service hotline: Mainland China: 400-138-2929, Hong Kong, China: (852) 2802 8798.
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