Portugal, a country with picturesque landscapes, a pleasant climate and a rich culture, has long been an attractive destination for foreign investors, in particular thanks to its Golden Visa program. However, a recent proposal by the Portuguese government to end this program has sparked much discussion and debate. What are the implications of this change, and what are the alternatives for those considering moving to Portugal? That's what we'll explore in this article.
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Golden Visa program discontinued in Portugal
Since its creation in 2012, the Golden program Visa in Portugal has attracted thousands of foreign investors, usually non-European, offering rapid access to residency in exchange for significant investment in the local economy. However, the Portuguese government's recent proposal to end this program has sparked much debate.
The end of new residence permits in exchange for property investments is mainly due to concerns about rising property prices in Portugal's main cities, particularly Lisbon and Porto. The More Housing program, in which this decision was included, aims to alleviate these housing problems and regulate the real estate market.
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This change in policy was supported by several political parties in the Assembly of the Portuguese Republic, including the Socialist Party, the Left Bloc and the Portuguese Communist Party. The implementation of this new law means that new applications for residence visas for investment activities, particularly in real estate, will no longer be accepted.
Implications of the end of the Golden Visa program in Portugal
The end of the Golden Visa program means that people who were considering moving to Portugal via this program must now consider other visa options. However, it should be noted that although new applications will no longer be accepted, the possibility of renewing authorizations already granted still exists. In addition, applications currently being processed will not be affected.
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Another important implication of this change concerns the Portuguese real estate market. While some parties believe that the end of this program could curb the rise in property prices, others are concerned about the potentially negative economic consequences. For example, the end of the Golden Visa program has led to the cancellation of a residential tourism project worth 800 million euros that could have brought Portugal up to 4.8 billion euros, according to a Portugal News report.
In addition, there are implications for the family reunification market. The new law also excludes the renewal of residence permits for family reunification, which could affect those who wished to use the Golden Visa program as a means of reuniting their families in Portugal.
Despite these changes, Portugal remains an attractive country for immigration. There are many other visa options available for people wishing to settle and work in Portugal, or for those wishing to move to another country. retire to PortugalThese range from work visas to retirement, entrepreneurial and student visas, among others.
Alternatives to the golden visa in Portugal
Despite the end of the Golden Visa program, Portugal still offers several other types of visa for foreigners wishing to settle here. The D7 visais an option for retirees or people on a regular income. What's more, the job search visa is a possibility for those wishing to seek employment in Portugal. These and other alternatives ensure that foreigners always have the option of settling and living in Portugal.
In addition to the D7 visa and the job-seeker visa, there are other visa options for foreigners wishing to settle in Portugal.
Work visa
This visa is intended for foreigners who have received a job offer from a company based in Portugal. To obtain this visa, the employer must generally demonstrate that he has been unable to fill the position with an EU citizen.
Temporary residence visa
This type of visa is ideal for those wishing to stay in Portugal for less than a year. It can be used for work, study, professional training or scientific research.
Student Visa
This visa is issued to foreigners wishing to study at a Portuguese higher education institution. Students must have been accepted into a study program before they can apply for this visa.
Entrepreneur Visa
This visa is intended for entrepreneurs wishing to set up or take over a business in Portugal. Applicants must demonstrate a viable business plan and have the financial means to implement it.
Scientific research visa
Researchers wishing to carry out research in Portugal can apply for this visa. They must have signed a research contract or hold a research grant.
Retirement Visa (D7 Visa)
This visa is intended for those who are already retired or have sufficient income to live in Portugal. The exact amount of income required varies, but in general you need to be able to prove that you can support yourself during your stay.
Visa Tech
The Tech Visa is a Portuguese government initiative aimed at attracting technology talent to Portugal. Applicants must have specialized technical skills and a job offer from a technology company in Portugal.
Family reunion visa
If you have family members already living legally in Portugal, you may be eligible for a family reunification visa. This visa allows you to join your family and live legally in Portugal.
Volunteer Visa
If you want to volunteer in Portugal, you can apply for a volunteer visa. It is usually necessary to have a supportive host organization.
Visa for self-employed professionals
If you are a freelancer or independent professional, you may be eligible for a visa for independent professionals. You'll need to prove that you have the means to support yourself during your stay in Portugal, and that you have work lined up.
Artist Visa
For those working in the arts, the artist visa is a viable option. Whether you're a musician, dancer, actor, director or visual artist, this visa allows you to pursue your artistic career in Portugal.