RidleyQLero:
Here’s the big one…
Is anyone honestly surprised that as soon as the first (maybe it’s 2nd or 3rd) cohort of GV-ers is ready to get PT citizenship after ‘completing’ its investments and having done its time requirements, the GV citizenship pathway appears to be teetering?
Did the Portuguese offer the quid-pro-quo: receipt of a capital influx in return for citizenship , and then suddenly ultimately decide to not honor their own program? At this point in time, they are at minimum slow-walking any progress (whether intentionally or by ineptness or due to political uncertainty-- irregardless, the outcome is the same!).
Now that much (but not all ) GV-sourced capital is tied up in long-term real estate projects with startup developers (who’ve oftentimes never done PMC / EPC work), how will the investors get back their money in a timely manner or even at all? The developers have made their money on the markups anyway (yes, in diligence, you will find out they bought land directly, marked up the value, and contributed it at inflated valuations to the SPV). If the SPVs go bankrupt, the developers have made money while the SPVs and investors lose…
Did the Portuguese government try to hoodwink economic migrants, by their actions?
Pulling up vintage and classic posts… This one aged well
I’m sure some person will try to ‘call Mommy ’ and that’s OK; lots of people are in on the grift, and their livelihoods are upended as much as our collective economic foray into the principled ‘thrall of Portugal ’
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