“There are programs that we are currently reevaluating and one of them is the golden visa program, which has probably already fulfilled its function and for which there might at this point no longer be any justification for maintaining it,” Costa said during the Web Summit, news agency Lusa reported.
Under the 2012-launched scheme, investors from non-EU countries can get Portuguese residency if they invest more than €280,000 in real estate, or at least €250,000 in contributions in the arts. That is a popular scheme among investors from countries like the U.S., China and Australia, who with residence get access to EU visas and can buy profitable houses and apartments.
Portugal has already temporarily suspended the scheme for Russians following the country’s invasion in Ukraine.
Lisbon also came under fire when it was revealed that Russian oligarch Roman Abramovich received Portuguese citizenship last year by claiming that he was a descendant of Sephardic Jews. A rabbi who helped the billionaire obtain his Portuguese citizenship is being investigated.
(source:politico.eu)
