President gives green light to changes in Golden visas, in spite of “some risk in broadening access to it”

  • ECO News
  • 16 August 2017

Marcelo Rebelo de Sousa authorized the law on Golden visas given the need to transpose European rulings, their useful effects on the economy and also the absence of votes against the approval.

Marcelo Rebelo de Sousa, President of the Portuguese Republic, promulgated the diploma which alters the regime about the circulation of foreigners in Portuguese territories, even if pointing to “some risks associated with the broadening of the access to Golden visas”.

Marcelo Rebelo de Sousa gave the green light to the law, given the need to transpose European rulings, and also the “useful effects for the economy”, namely in agriculture. In addition, no parliamentary bench voted against approving the law on Golden visas.

The announcement was made this Wednesday on the official website of the Presidency: “Although there are some risks associated with broadening the access to Golden visas, given the need to transpose European rulings, and some useful effects to the Portuguese economy, namely in agriculture, and the absence of voting against the measure from any parliamentary bench, the President of the Portuguese Republic promulgated the decree changing the juridical regime regulating the entrance, permanence, and leaving of foreigners from national land, transposing EU directives”.

Among the changes planned, it will also be possible to grant visas to those who make a 350 thousand euros’ investment in creating or reinforcing the capital from Portuguese companies, as long as they create or maintain five permanent job positions. The threshold stands below the mandatory 500 thousand euros to purchase real estate.

PUB