It is higly unlikely that GV investors will be treated better by AIMA. The main reason is that they need to lengthen process and keep the invesment of GV investors in Portugal as long as possible. Why? Because if they issue/renew the residency quickly, then the quicker and easier GV investors reach their main target i.e. portuguese passport. Once the investors have passports in hand, i am sure that they will withdraw all investment out of Portugal. In my opinion, portuguese authority will try all possible ways to lengthen and complicate the process to GV. They will make it at least 10 years if you want to get the passport. (2-3 years to get first card, each renewal needs at leasts 1 year, plus 5 years of 3 cards, already results 10 years. Then 2 years for citizenship application, could easily lead to 12 years per my basic mathematical calculation).
On the other hand, all other types of residencies will be treated with high priorities. Why? Immigrants without residency cards are having dificulty to find jobs. Local companies require that the workers need to have valid resident cards. Portugal is lacking labor in all sector. Local portuguese (teachers, engineers, âŠ) complain about low salary, but immigrants from Angola Mozambique Brazil surely can manage their life with the portuguese salary. They can surely live with lower living standard and living condition. D7 D8 also need residency quickly. Why? Because D7 D8 holders only spend money and have zero invesment when coming into this country. If Portugal does not give them residency, they are happy to spend their money elsewhere.
It is different in case of GV where most of the investors do not live in the country and the money invested is huge. That makes it impossible for AIMA to improve the bureaucracy that we already experienced with SEF. Basically, AIMA or SEF, it is still same people with same attitude on GV investors.
This is conspiratorial nonsense. The aima workers and their bosses and their bossesâ bosses donât benefit directly from the investments made by gv investors
Theyâre just incompetent and/or donât prioritize. Take your pick
But why? Do you consider an RE investment in PT as a really bad investment on its own? Or do you think the funds investments are hugely underperforming as compared to some other place?
And what about the passport itself. Do you expect that anyone receiving PT passport would immediately use it somewhere else for non-PT purposes? Where? EU? Are you suggesting the rest of EU is absolutely thriving as an investment ground way ahead of PT?
It is just my opinion. I would love to be wrong because I am also the GV investor. Although they do not directly benefit, governmentâs officials often have their share via lawfirm and fund. An approved fund for GV is no joke at all. It does not free fall from sky. But, as said, I would love to be wrong with my theory .
I am non-US/UK investor and i believe that my origin influence my thoughts.
Most of GV investors are non US/UK. No doubt about it. So the main target here is to get the European passport.
I do not think RE investment in PT is bad but also I do not think it is good enough for me to invest without aiming for the passport. I could see that Portugal is good to live. Maybe when Iâm retired, I will buy an apartment 200k in Setubal or Coimbra and live sometimes there. But, purely from investment point of view, I just do not see myself putting my money on RE in Portugal.
The fact is that a majority of GV investors are from China Russia India South Africa Turkey and many other asian countries which are not listed in Top 5 investors (statistical data issued by SEF). Therefore I think most of those mentioned investors will not live in Portugal and live elsewhere. Some might still own a house in PT; some might not. To be fair, if 50% of them sell their investment in PT and move to other country, it would be a big sum for portuguese economy.
It is difficult to conclude where is good to invest without taking your country of origin into consideration. In my case, from asian point of view, EU in general or PT in particular is just a good combination of passport + 1 house to live. Other than that, it is not worth it.
But who the heck I amâ:joy:!!! Some chinese investors bought a hotel and 5-10 houses hereâ:joy:.
So we just pray that we could sail thru this bureaucracy.
Yes, at this particular moment I believe that from economic point of view RE in Portugal is not a good investment. Price vs average income ratio is the highest in Europe and very high in the world, rent % is not vert high, and rent vs average income ratio is also very high so do not have much space to grow. 70% of mortgage is floating rate. NHR is gone. And housing quality is not good.
Frankly speaking, I am looking for my dream house for me personally and I just couldnât force myself to buy. You could find better quality house cheaper in Spain or France ( Pyrenees e.g.).
âapprovedâ might not be the correct term, but funds need to be âregisteredâ, âpermittedâ, âmeet all requirementsâ and then be âeligibleâ for GV. All these controls are created and can be modified by the governmentâs officials.
This entire Portuguese GV program is a travesty, a scam of the highest order carried out on unsuspecting investors. Yeah sure, we are the ones responsible for all of Portugalâs problems, flaunting illegally accumulated wealth by buying real estate when poor residents canât even afford monthly rents. Not one penny, one penny more I am investing in PortugalâŠGV or no GV.
With the extinction of the SEF, last Sunday, city councils were no longer able to issue residence certificates to European Union citizens living in Portugal. This document legalizes the residence of citizens from other European countries in Portugal and until now was issued by local authorities on behalf of the SEF. However, municipal councils do not have a direct contact channel with the recently created Agency for Integration, Migrations and Asylum (AIMA), nor were they informed about the procedure to followâŠ
We had our biometrics yesterday (oct.31) in Coimbra. Our lawyer told us the transition from SEF to AIMA had happened the day before. The only change noted was that they had him re-do some of our forms during the appointment. Theyâre the exact same forms but have a different logo now so they must be re-done.
The woman working was flustered and seemed stressed. We had four different appointment slots for our family of four and were supposed to be there from 11 am until about 4:30 pm with each person having their own separate time/appointment. Our lawyer, who wanted to get things done quickly, asked if we could all go at the same time since we had our two kids with us and she said no way, she has way too much work and there was a staff meeting in the middle of our appointments and she couldnât do it.
Our lawyer was organized and she ended up doing all four of our appointments in about 60 minutes. It was very easy.
Thatâs the first article Iâve seen that claims GVs will be prioritized. And it only makes a vague reference to the Oct. 30 announcement, where many, many things were promised.
Whereas Iâve seen plenty of articles saying Comunidade de LĂngua Portuguesa family reunification will be AIMAâs first priority. Thereâs hundreds of thousands of CPLP migrants to Portugal, so just on numbers they completely overwhelm us GVâers.
Meanwhile the first days of the new regime are going swimminglyâŠ
Lisbon â In just 48 hours, Brazilians living in Portugal filled up all the places made available by the government until the end of this year to renew their residence permits in the country⊠There was a great expectation that, with the extinction of the SEF and the creation of the Agency for Integration, Migrations and Asylum (Aima) to replace it, services to immigrants would improve. But what we see, three days after the agency went into operation, is that everything continues as it always has been, that is, a total disregard for the citizens who chose Portugal to work and live.
That article basically says nothing concrete about the GV, and what it does say is assumptions from its author.
it is expected that this matter will be dealt with as a priority, which we assume means additional resources will be put in place to correct this situation with urgency. Also, creating the new entity will not impact your Golden visa application
Do not get your hopes up. We didnt just go through all of the âthis program is bad for portugal, we are shutting it downâ so that PT could immediately throw tons of extra resources at it.
(An optimist might hope that clearing the queue of applications hastens the end of the program, so it could be seen as desirable by the govt!)
Wasnât saying that. Just noting that regardless of whether youâre CPLP (Brazilians, etc.) or GV, itâs ânew name, same rubbish serviceâ so far.
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