Last updated on November 14, 2022…
The answer to this question, unequivocally, is yes.
As of this writing, the Portuguese Golden Visa program is still going strong.
It’s not secret that Brussels despises Golden Visa programs. But according to EU legislation, it is up to each country in the bloc to determine whom they naturalize, and on what grounds.
Critics of the program jump at every single opportunity to proclaim the demise of the Golden Visa – and yet, it has been running as one of the world’s top residency by investment programs for the past decade.
While the program became more restrictive as of January 1, 2022 – residential real estate in Porto, Lisbon and the Algarve no longer qualifies – the program is still very much open and accepting applications from around the world.
The Portuguese Prime Minister was recently quoted as saying that “there are programs that we [Portugal’s government] are currently re-evaluating and one of them is the gold[en] visa which, probably, has already fulfilled the function it had to fulfil.”
And yet, there are a plethora of potential reasons for making this statement.
To divert attention from other issues.
To be seen taking criticisms of the program by the socialists seriously.
To pander to populist public sentiment.
Regardless, it is worth considering that Portugal has been run by socialists for years…
And that it was a socialist government that introduced this program in the first place…
And that no matter how politically unpalatable the program may be in some quarters, it played a large part in getting Portugal out of the post 2008 doldrums.
This is a government that clearly grasps the fact that more income gives you more options.
Enables you to invest in public infrastructure.
To govern better.
They clearly also grasp basic economics, and understand that abruptly cutting off a reliable and significant supply of foreign direct investment would have catastrophic consequences for the country.
So no matter what statements are made to the media – when it comes to the crunch, this government, today, still stands in support of the Golden Visa program.
And that while pressure from the EU and socialist lobbyists will no doubt continue unabated, the Golden Visa program will nonetheless continue being an economic boon to the country for the foreseeable future.