Portugal finalizes the golden visa application
Taking into account the huge increase in real estate prices in the country in recent years and the reactions of the Portuguese, the left-wing government rescinded the Golden Visa application and took measures not to issue new licenses for apartments intended for rental to tourists, except rural. areas
When pronouncing on the decision taken in the Council of Ministers, the Prime Minister, Antonio Costa, said that his fight against speculation in the real estate sector will continue.
Portugal became the second European Union (EU) country, after Ireland, to finalize the Golden Visa application.
According to the records in the country, 6 thousand 754 million euros of income have been obtained in the last 10 years, thanks to the Golden Visa application, which contemplates granting residence permits to foreigners who have bought real estate and invested since October 2012. .
According to data from the Immigration Office, 11,535 foreigners and their nearly 20,000 relatives have received the Golden Visa, which is granted to those who come from outside the EU.
WHAT HAPPENED?
It was shared that while those who came from China (more than 5,000) received the Golden Visa for the most part, more than 530 people from Turkey benefited from this right.
The Golden Visa program was subject to some changes on January 1, 2022, limiting it to the purchase of real estate only in the interior of the country or in Madeira and the Azores, increasing the minimum investment amount from 1 million euros to 1, 5 million euros