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Portugal is about to end its famous Residency by Investment program, also known as Golden Visa!
Although Portugal’s Residency by Investment Program (RIP), or Golden Visa, is one of those most sought by wealthy foreigners, it’s nearing its termination, according to the country’s government.
Portugal’s Prime Minister, Antonio Costa, said this week that the country is considering abolishing its popular but much-criticized 10-year-old Golden Visa scheme because it seems to have fulfilled its function.
The scheme has attracted more than €6.5 billion in investment by foreigners, mainly from China, Brazil, South Africa, and the U.S., with the bulk of the money used to buy real estate.
So what does this mean for you?
Basically, if you’re considering getting a Portuguese Golden Visa NOW is the time to act. If you don’t act immediately you may never have the chance to apply, as we don’t know when exactly it will be shut down.
However, if you’ve already invested and you’re in the process you should be safe.
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Author: Michael Rosmer
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