The Portugal Golden Visa became Green
Published at: 02/04/2019 11:45 am
In 2019, the Portuguese government introduced the Green Visa and defended the already successful original Golden Visa options. This new Portugal Green Visa allows investments in ecotourism, organic agriculture renewable energy, and a wide range of environmental projects in exchange for the residency, and later the citizenship of the EU Member State.
Interestingly, only the Greens voted against the proposal from the PAN (People, Nature, Animals) in the Parliament. Meanwhile, the proposal went through with the three-quarter of the votes.
André Silva, leader of PAN, said to the JN that "the approval of the Green Visa will serve to reinforce Portugal’s role in attracting international ecological investment, while simultaneously ensuring the transition to a circular and carbon-free economy".
According to the PAN's announcement investments of any designed areas will qualify above 250,000 euros.
Since the introduction of Portuguese Golden Visa scheme, the residency by investment programme generated an accumulated investment of 4.155.454.320,27 EUR from which 3.769.059.383,67 EUR in the acquisition of real estate and 386.394.936,60 EUR in the capital transfer option. The foreign direct investment helped the Portuguese economy and the suffering real estate market to survive the harsh and long crisis.
The Advantages of the Portugal Golden Visa Program
- You can become a citizen of Portugal after the five years of the residency by investment programme.
- As a resident of Portugal, you can visit visa-free the other Member States of the EU and other countries of the Schengen zone.
- One investment guarantees the visa holder rights for the entire family. Family includes spouse, dependent children and dependent adult children enrolled in a higher education institute.
- You can maintain your European resident status by staying annually only seven days in Portugal.
The most popular investment option until the launch of this new solution was the real estate purchase option. Investors can buy one or more residential real estates for at least half a million euros to meet the requirements.
You want to become a resident of Portugal? You can read all the detailed information on the programme by clicking here!