A new type of residence permit is being introduced in Portugal as the ‘Golden Visa’. This will be different from the traditional visa and have more facilities.
What Is Golden Visa In Portugal
The golden visa is being offered in Portugal which will support the immigrants as well. The main purpose of this new visa is to bring private investments into projects. This will promote social acceptance of immigrants within the country. More details will soon be shared by the Portuguese government.
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According to some reports, it is estimated that the golden visa will be obtained by spending 250,000 Euros. It is a new modern solution to obtain some investments in the country. Any foreigners who want to obtain a residence permit should invest 250,000 Euros in any social projects. The investment will be used for the infrastructure and equipment that will support the integration of immigrants. There is no financial return for the investor in the traditional visa except for residency. This will end with the new introduction of the Golden visa in Portugal.
An executive of Luís Montenegro has informed us that the objective of the new golden visa is to create a means of investment. This can be possible by the introduction of this new visa which can serve as a social investment in the immigrant integration projects. The executive stated:
Residence Permits for Social Investment – a change in relation to the scope of Residency Permits for Investment (ARI), to include investments made in equipment and reception infrastructure, integration projects, and support for immigrants in vulnerable situations.
Revenue Used For Social Projects
The new golden visa is a way to gain a residence permit within the country. This will focus on more investments in social projects within Portugal. The main aim is to direct all the effort towards affordable housing and supporting immigrants who have arrived in the country. It will also ease the pressure on the housing market along with ensuring affordable housing options for the local population.
Investments can be used to promote the process of immigrants within the country such as reception centers and other infrastructure. For now, it is projected that an investment of 250,000 Euros should be made to get this new Golden visa. There is no indication of the minimum amount required as the Government will soon announce it. The Government aims to keep this amount less than the amount for other kinds of visas. This will further promote the new Golden Visa, and ultimately more investments will be made in the country.
Golden Visa Will Have More Benefits
The Government has not announced any kind of details for the new golden visa, but it is soon expected to get some details. There is no confirmed date which will be implemented for this new visa. It is expected that this new golden visa will bring lots of benefits to Portugal. This can be done by bringing capital which can later be utilized by social and housing projects. It will also make a credible investment within the country that will prove to be a sustainable investment in the future.
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