Golden Visa in Portugal to include "green" investments
According to Portuguese Government official figures, since its beginning in 2012, the Golden Visa program generated in Portugal an accumulated investment of € 4.155.454.320,27, from which € 3.769.059.383,67 in acquisition of real estate and € 386.394.936,60 in capital transfer. All this in a country that was facing serious crisis when the program at stake began.
For that reason, the Golden Visa scope has been extended in recent years.
Within the aforementioned scope extension, on January 10th 2019, the “PAN” party (“People, Nature and Animals”) lodged a draft law foreseeing the possibility of obtaining residency permit (and potentially Portuguese citizenship) through the investment in renewable energies, organic agriculture, ecotourism and a considerable range of environmental projects.
This Green Visa draft law was approved by Portuguese Parliament in broad terms and it is now going to be subject to debate on the details in the next coming months.
PAN´s proposal foresees the investment of € 250.000,00 in eco-friendly projects as an additional gateway (within the Golden Visa program) for non-European nationals who intend to obtain a residency permit to Portugal and consequent freedom of movement within the European Union.
The proposal and approval of PAN´s Green Visa is a clear sign that there is a broader political will to keep and to develop the Golden Visa program in Portugal.