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  • Writer's pictureImran Mirani

Portugal Golden Visa Reforms ‘Mais Habitação Bill’ Vetoed By The President Of Republic.

President of Portugal "Mr. Marcelo Rebelo de Sousa" has vetoed the ‘Mais Habitação / More Housing’ bill and has sent it back to the parliament for changes, the parliamentary decision is expected by mid September or early October 2023. This means the individual investor that are considering for Portugal Golden visa ‘ARI - Residence permit for investment activity’ via real estate investment option will have further time submitting their application, but the investors need to act fast if they wish to benefit from current pricing that is starting from EUR 280,000 or more, at the same time it is very important that the investor should be careful and ask more about resales or the exit strategy while selecting the property/project.

The bill ‘Mais Habitação / More Housing’ excluding real-estate as qualifying investment was previously approved by the parliament and now vetoed by the President of Republic on 21st August 2023. Concluding his presentation Mr. Marcelo Rebelo de Sousa said “I know, and we all know, that an absolute majority in the Parliament can repeat the approval we have just voted for in a matter of weeks. Nonetheless, as everyone will understand, this is not what can or should prevent the expression of a deep conviction and a serene negative analytical judgment.

Once the legislation is made and the bill is into force, the real-estate investment will no longer be an option, and the remaining qualifying investment options will be capital transfer, investments into the venture capital, job create for Portuguese nationals “at least ten jobs”, via scientific contribution, donations to art & culture so on.

Portugal golden visa program is the most sought-after program in the world, and the investors opt it for various reasons such as lowest possible physical stay required, lowest possible real-estate investments with 100% buy-back guarantee and;

  • Portugal is 2nd least expensive country in Europe.

  • Portugal recorded as the top 3rd peaceful country in Europe.

  • Portugal is ranked 4th on the index overall (Global Index 2021).

  • Portugal is ranked 12th in the best public health systems in the world

  • Portugal is ranked 6th globally in education, a country that offers free education until the age of 18 years, and has most English fluency compared to France, Italy, and Spain.

Our services are not not limited to representation with SEF ‘Serviço de Estrangeiros e Fronteiras’ authorities (Portuguese Immigration and Border Service) for Residence Permit only but we do represent our clients with banks, tax authorities, assist them sourcing the right property and property registration with concern municipalities anywhere within Portugal, performing primary due diligence on client and the property/investment before our clients even sign the retainer or paid us any fee, helping them with renewals and or assisting with their passport/citizenship when the time comes.

Feel free to reach our the author or one of our expert advisors should you wish to know more about legislative amendments, or alternative RBI ‘Residency by Investment’ programs such as from Greece, Spain, Malta, UAE and others.

About The Author

Head of RCBI / Business Migration


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