INTERNATIONAL
Which country offers resident-byinvestment options ?
GETTING A GOLDEN VISA
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Portugal has recently shut down its residence-by-investment programme , which was also referred to as the Golden Visa scheme . It ’ s claimed that the decision to end it was driven by the country ’ s ongoing housing crisis , which has driven property prices up while locals have not seen their wages increase at the same rate . One report highlights that rental prices increased by 37 % in 2022 , making it impossible for the Portuguese people to get into the housing market .
60 E M I G R A T I O N
With such a popular scheme closing , you may be worried about the alternatives and if they ’ re as good as the Portuguese offering . Here we unpack some similar options .
Other options and future closures ?
Although the Portuguese Golden Visa programme has concluded , there may still be other options to consider if it is shut . ‘ Like many other countries , Portugal has a wide range of residency programmes including the D7 passive income or self-sufficiency visa programme and the D3 or Highly Qualified Activity ( HQA ) Visa . Specifically created for highly qualified professionals and entrepreneurs , the HQA Visa is currently the quickest , most convenient and cost-effective investment-based path to establishing residence in Portugal . It provides investors with benefits like those of the Golden Visa at a reduced total investment requirement of € 185,000 ( R3,627,762 ),’ says Ceri Pratley , head of residency and citizenship-by-investment services at Sovereign Trust SA .
Whatever the Portuguese government decides , Portugal may not be the only country to shut down its residence-by-investment programme . ‘ Since mid-2022 the European Commission has been urging the European Union governments to phase out and end their various Golden Visa programmes . Ireland recently shut their programme down and we believe that several other European Union programmes will either be altered or ended ,’ says Stuart Ferguson , director at 12 Star Capital .