Yes, disappointment and betrayal are the primary feelings we are experiencing. But we are also pragmatic. So while it is quite miserable to be living here with all this uncertainty, we know that we need to see how this plays out. Ideally it would be sooner rather than later as our renewals are due in April and if it is indeed a full and permanent “rug pull”, we will need some time to implement our Plan B. So we are quite keen to see some movement in the upcoming days/weeks.
As soon as the dust clears on the new citizenship law, I plan to sue under the bilateral investment treaty between Turkey and Portugal. If that doesn’t work, I’m out as soon as the funds unlock, and will be pushing to make that happen sooner.
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’
The mods here may not like it, but that’s precisely why psychoanalyzing the situation is important. Is there something that can lead us to accurate perceptions of Portugal, its program, character, legal framework, and jurisprudence? Do citizens suddenly follow the law out of goodness of their hearts or does it have to be built into their moral fiber? Do ethics or expediency matter? Does politics trump race (pun intended)?
Anyone exiting the GV after the passing of recent law ? I just don’t have the energy or the money anymore to visit portugal every year or prepare the renewal application documentation everytime or pay taxes on unrealized gains.
It was just a complete waste of money, time and energy that I could have channeled somewhere.
If you’re burning your bridges with Portugal anyway, might as well put some energy into warning others. Contact your local press and ask them to do a story on why people shouldn’t invest in Portugal. Contact your country’s legislators and ask them to impose a reciprocal 10 year naturalization time on Portuguese immigrants to your country
But more likely, he will simply double the Tariffs and price-tag on the “Golden Card” for Portugal…
Go figure…
There are certain governments that never stick up for their citizens (except during times of international emergency - arguably the most critical time!!, but that relationship seems to be tenuous nowadays)
Not sure fair to namecall. Virtually everyone on this platform was peddling how great Portuguese real estate was which was of course structured as ‘closed end’ SPVs
Whenever there is a “so called” improvement in Portugal, I really doubt that it could actually improve as expected.
AIMA was established in order to improve what SEF has done. In fact, in my opinion AIMA’s performance is not really significantly better than SEF. Some changes have been made but still many people have been waiting for cards in years under AIMA. Renewal process is still a pain in the neck.
Government claimed that the GV Real Estate Route was one of the main cause of skyrocketting price the property price. They stopped the GV Real Estate Route. The result is that the property price (both buying and renting) continues rising significantly after stopped GV Real Estate Route. It shows that closing this investment route makes zero impact. Shall the action be reserved? Shall the GV Real Estate Route be re-opened again?
Government introduced a new citizenship law/immigration law in order to stop the incoming immigrants. Let’s see how successful it will be. My bet is that the immigrants will still come and the total number of foreigners will still increase year after year…
Many people were warning about ‘Portugal’ itself… these are simply structures, but if the ‘eggs’ are bad, then nothing will make any investment worth it
In fact, one could throw around that s-word on anyone (including, wishfully, me) who thought Portugal wouldn’t change their laws to our collective detriment
It legitimately ruins my day whenever I think about the fact that I sold a stock that has grown 3x since to invest in a hotel construction which is delayed and will probably give me negative returns (if hopefully some). Nothing in the country ever gets done and everything costs money.
As someone said above, I had faith that the government will hold up its end of the bargain since it’s an EU country, boy was I wrong. Third world countries are better run than this sh#t show.
You must have known that the PIIGS or FPIIGS were the cause of a real economic crisis in 2009-14, and ostensibly got severe in 2013. They & Portugal weren’t following any sort of economic prudence. So why would you think it’s better run? Simply because it is ‘Caucasian’ or ‘Euro’ would be a fools errand. In any event, this is hardly about economics as ‘economic migrants’ are paying for themselves and more.
This is about good-old-fashioned ‘race politics,’ because they haven’t stopped the illegals from pouring in. Yet when it comes time to grant mostly Chinese & Indians the right to citizenship, then they abruptly changed the laws.
For example, Europe wants to ‘fast track’ Ukraine which is highly-ranked in nothing except fraud & graft. What would be the reason that the EU was ‘better’?
Decided to end it for us after starting in 2023. Submitted open fund redemption form today to Oxy. Will have to wait until 2030 for a closed Fortitude Fund. Really disappointed that the goal posts were changed but we aren’t much of any losing money so far, just a giant waste of time. There are other avenues for what we want (EU residency and someday maybe citizenship) that take less time now. Populism and misplaced xenophobia won the day. I hope the government and people that pushed for this feel some pain from the exodus.
