Albania has cancelled their Golden Visa program under pressure from EU.
I understand that Albania is still in the process of becoming a member of the EU.
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Very interesting and quite expected. This certainly looks like a strong trend these days.
I wonder if EU will let the Albanian government to bid farewell to its GV investors in an appropriate manner and provide at least some sort of a grace period before shutting the program down and letting those already in the system to complete their journey?
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Like others have said, I do think there’s a very important distinction between cash for residency, and cash for citizenship.
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The SEF ARI portal header reads “A sua porta para o futuro”.
If anything, it is clear that the whole intent for ARI is to provide a future for people in Portugal. And it is evidence that at least at one point in time, Portugal was welcoming of people from other countries - when the door was open.
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I would guess a lot hinges on the EU-Malta court case.
The EU is pressuring all EU countries to end citizenship and residency by investment. They are going after citizenship first. Cyprus already caved and ended theirs without a court fight. Malta it seems is taking it to court. If the EU wins in court, then I would not be surprised if they go after residence by investment next. (An EU court decision against citizenship by investment would probably also kill more expensive, exclusive programs like Austria’s).
On the other hand if the EU loses against Malta, we may see more EU countries bring back outright citizenship by investment. If there is court precedent protecting it, why not sell citizenship outright?
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It will be great if the EU dissolves because of arguments over GVs, given (I assume) most people are paying for GVs to get access to the entire EU. PT citizenship granting you access solely to PT is not nearly as exciting!
postponed till March 30
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I’d rather the EU not dissolve
But that would be ironic for a very small portion of people lmao
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hpe poster mean “…EU dissolves GV…”
would suck if the EU dissolved over this for i mean like less than 0.1% of EU population…
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PT residence or Citizenship + NHR = Very Exciting
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At this point, I slightly regret not just doing Montenegro CBI instead (which closed end of 2022):
Cons:
- not in EU yet
Pros:
- similar total $ outlay to GV
- much shorter timeline to citizenship
- no language requirement!
- Montenegro might join EU in 2025, so investors could well hold EU citizenship much sooner than through Portugal GV, where best case citizenship takes ~7 years (more likely 9 with all the delays, if you can even still get it).
- guaranteed that minor children also get citizenship, which isn’t guaranteed in Portugal
- at this point, EU accession of Montenegro seems more likely, than continued ability to get citizenship through Portugal GV.
Overall, I feel the advantages of Portugal GV were seriously oversold compared to other options.
Seriously seconded! I doubt Montenegro makes it in 2025, but probably makes it this decade which is mkre than I can say about getting citizenship through PGV.
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Not so much for Americans, since we pay US taxes regardless.
For other nationalities looking for a tax haven, maybe, but who needs GV for that? D7 is much cheaper and faster.
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True…… Arguably the GV offers more flexibility long-term tho
WRT speed, given one can move immediately once the GV is filed, there’s limited practical impact if all you want is residence….
If I had my time again I would’ve considered going for D7 first then converting to a GV for the long run….cost would be similar but I’d have a card in-hand already…
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Keep in mind this refers to golden visas granted, rather than applied for. They will likely keep setting records as the flood of 2021 applicants starts receiving their residence cards.
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Yes it’s very annoying they keep using this trailing indicator. And then the press reports it as “WHY IS THE GOVERNMENT STILL GRANTING GVS IN LISBON AFTER PROMISING NOT TO?!”
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…the EU is not going to dissolve…it is stronger than ever.
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Hi everyone. i feel a bit lost and would love to catch up on whats happening at the moment.
What is the situation for people who received their first 2 year residency card ? the renewal is compromised under the new law ? or are we safe even if the law is passed ?
Many thanks for your explanations ?
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No-one really knows. The draft law proposes restrictions on how a property is rented out when a GV holder renews, but we’ll have to see whether this survives the legislative process and legal challenge. And no-one has explained what happens if you invested in a hotel, office building, etc. We may know a bit more at the end of this month when the bill goes up to parliament.