Portugal’s parliament voted against the abolition of «golden visas». The country’s Prime Minister, who had previously admitted such a possibility, also changed his mind.

Recently, we wrote that the Portuguese Communist Party insisted on abolishing the «Golden Visa» program. This initiative until the last moment was also supported by the Prime Minister, who said that the residence permit scheme for investment has fulfilled its function. In addition, the idea of cancellation is supported by the public, according to which, this program provokes the growth of prices for housing and rent.

However, eventually, on November 22, 2022, most parties opposed the abolition of the program: namely the ruling Socialist Party (PS), the Social Democratic Party (PSD) and the right-wing Chega Party; the liberal initiative has abstained. 

Note. Portugal’s «Golden Visa» program has been in place for 10 years and allows foreigners to obtain a residence permit in Portugal for investment.