Those who made investments in 2022 did so under a newly renovated ARI investment program that specifically encouraged real estate investments in the country’s interior. Investors either bought real estate in less economically advantageous interior regions or met significantly higher fund minimums. They did so in good faith and, at least until November of 2022, with no warning that the government might fail to deliver on the visas promised upon investment.
It is now two years later and, apart from several resourced enough to have sued and lucky enough to have won, none of us have even reached pre-approval.
The promises of no retroactivity were purely formalistic—our applications were simply shelved with no indication they will ever be processed.
This is worse than disgraceful. It is fraudulent.
I understand that every class of GV Applicants has faced its burdens, but as a member of the Class of ‘22, I think we have been uniquely defrauded.
Are there any others in this boat who would be interested in organizing some kind of collective or class action? (Which apparently does now exist in Portugal.)
Small quibble: Every GV applicant should be “resourced enough” to sue. If you can’t come up with another grand, perhaps spending 100% of your money on a visa was a mistake.
Otherwise, I agree that the PT government should uphold its end of the deal!
For me, it isn’t about the couple grand in money. If there is a collective fund to sue the government, I will definitely chip in!
I can’t take out a lot of time from my work for this. Just doing the paperwork for the application was a nightmare. More than the cash, it’s about the value of my time. And given my experience with Portuguese lawyers and the legal system, I know for a fact that this can’t be some pay a lawyer and let it be on auto pilot kinda thing.
I fully share the sentiment. The Portuguese government gladly welcomed investors’ money, but they are not holding up their end of the bargain.
I am considering suing directly. I imagine a class action lawsuit would have more weight behind it, but I imagine it would be a very lengthy and complex process.
Folks, there is no such thing as a “class action” in PT, but there is nothing wrong with finding a good lawyer to take on multiple cases using the same argument multiple times using the same argument for a lowered fee. I’ve got my GV via lawsuit and would suggest talking with lawyers already successful on such a front.