New Portugal Golden Visa Rules to Take Effect Within Days Following Promulgation Last Night
Out of veto options, Portugal’s President last night finally signed the new housing bill into law, enacting the new golden visa rules.
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Europe
Netherlands Investor Visa Ends Tomorrow After Only 10 Approvals in 10 Years
The State Secretary said the decision was motivated by “the minimal use of the scheme,” along with “the critical discussion” in the EU.
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Portugal Golden Visa Approval Volume in August Slowest in 2 Years as Government Goes on Holiday Mode
The SEF tackled only about 0.8% of its backlog of unprocessed applications in August. Meanwhile, hundreds of new applications piled up.
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Greek Golden Visa Raising €200m+ a Month: Backlog Has Tripled in One Year
While application volume is up 262%, processing is up only 142%. Net result: A sudden and unprecedented backlog worth EUR 1.75 billion.
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Portuguese Golden Visa Reforms Postponed Until September as President Vetoes “More Housing” Bill
Parliament is likely to finally push through legislation next month, at which point golden visa real estate investment will be off the table.
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Portugal Golden Visa Eyes Record Year as Approvals in 2023 Already Approach 1,000
By the end of the 7th month of 2023, the SEF had approved 962 golden visas, already significantly more than the 865 approved in all of 2021.
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Italy Suspends Russians, Belarusians from “Dolce Visa” Following Record Year
After becoming the program’s number one applicant nationality last year, Russians are now excluded from Italy’s “Dolce Visa” program.
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Italy’s Representative Office Visa: The No-Investment, No-Presence Path to Italian Residency
Italian tax advisor and immigration specialist Nicoló Bolla introduces a little-known but highly flexible path to residency in Italy.
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Portuguese Parliament Okays Housing Bill in Final Vote: Q&A On What Happens Next for Golden Visa Investors
All that remains for the golden visa changes to take effect is promulgation by the President. Here are answers to your questions about the golden visa’s future.
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Portugal’s €4bn Golden Visa Backlog Would Take Until 2030 to Finish Processing, Insider Reveals
A source at the SEF says the agency has 7,802 pending applications. At current rates, processing these will take 6.8 years.
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Jersey Acknowledges the Rich Are “Highly Mobile” as it Considers Whether to Charge More for HVR Program
Jersey has raised billions from its low-tax HVR program. Now, deputies debate whether asking wealthy residents for more will scare them away.
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Greek Golden Visa Has Backlog Worth €1.5 Billion as Applications Surge Ahead of Price-Hike
Greece’s backlog now numbers nearly 16,000 (about 5,000 main applicants), which, when converted to golden visas, will net billions for Greece.
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Portugal Citizenship Requests Surge by 37% in 2022 as Foreign Population Approaches 800,000
Requests for Portuguese nationality rose 37% to an all-time high of 74,506 in 2022. Authorities approved 98.6% of citizenship applications.
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UK Supreme Court Overturns Ruling in UK Tier 1 Case: Maxwell Holding’s Contingent Financing Not Compliant
The UK Supreme Court settles a nearly four-year-old legal dispute over self-serving UK Tier 1 investment structures.
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Portugal Govt. Proposes to Keep Golden Visa After All, Eliminating Only Real Estate, Capital Transfer Options
The same governing party that introduced the bill to end the golden visa in the first place is now proposing to keep most of the program.
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Serbian Govt. Proposes Law to Grant Citizenship After Just 12 Months of Residency
The government of Serbia, an EU candidate, wants to give immigrants and refugees citizenship after just a year of living in the country.
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Portugal Golden Visa on Track for Record Year: Approvals Hit 3-Year High in May, Buoyed by British Investors
Jerry Morgan of Mercan, the PGV’s biggest developer, says it’s been a “traumatic” year but that he’s “cautiously optimistic” about the future.
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3,127 Ireland IIP Applications Worth €2.12 Billion Pending After Torrent of Last-Minute Filings
The government indicated the sharply rising application volumes had become “unmanageable” and had informed the decision to close the scheme.
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Portugal Approves 12,000th Golden Visa as Total Investment Approaches EUR 7 Billion
British investors are becoming more numerous and have now appeared in the monthly top-five nationalities list for 6 of the last 8 months.
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Spanish Govt. Mulls Whether to Raise Golden Visa Real Estate Minimums or Disqualify Property Investments Altogether
Sources say the government is considering two options: Higher real estate investment minimums, or no real estate option at all.
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