The President of Madeira has rejected plans to end the Portugal’s golden visa scheme arguing that it is good for the growth of island’s economy, in particular the high-income real estate and that the measures to stop it are fundamentally aimed at Portugal itself.
Currently, there is a public discussion in Portugal in which all parties involved are being invited to give their feedback on the plan to end the golden visa scheme for property. The final proposal will be drafted by the government and presented to Portugal’s parliament.
It remains to be seen what final proposal will be sent to the Parliament and, if approved, whether it will mean the end of one of the most longest (launched in 2012) and successful (brought around 6 billion Eur of investment into the country) visa for property program to date.
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