Tag Archives: Portugal Investor Visa

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Immigration Department Inspectors Claim Lack of Staff

Portugal Immigration department inspectors which are responsible to provide Investors Visa ( Golden Visa ) claimed today they are running with too little staff and can not cope with the amount of demand from this program.  The Inspectors Union launched a communication where they say the system is fragile because of lack of training to inspectors not allowing them to be able to control well the rules and details of the investment. This week Internal Affairs Ministry announced that the internal procedures inside Immigration Department will be modified to ensure the procedures are performed with best practices avoiding mistakes or delays as such as we have been experiencing the last months.

Inspectors Union refers to all this problem as lack of staff and lack of training with a natural consequence of extra work and overload per each inspector.  The conclusions of the last audit to Immigration Department refers to disorganization and lack of clear rules and procedures to process all this applications.

It is already known that the new manual of procedures should be in place within 30 days and after an initial phase of training improvements should start to be noticed. At this current moment they apology for the delay they have been creating in so many applications and expect this issues to be resolved for the near future.

For all our investors which are having their applications in process, please note that quick resolutions are expected soon.

 

Internal Affairs Ministry Anabela Rodrigues

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Citizenship - Portugal, Golden Visa, Investment

Capital Investment Over 1.000.000 Euro – Rules Changed

For all investors considering to apply for 1.000.000 euro capital investment option, please note that Immigration Department is now restricting the assets in which you can apply the capital. You are able to buy Portuguese companies stocks or leave the money in a time deposit at the bank. All investments to be done in foreign assets will not be accepted. This also involves all investment funds which are located outside of Portugal and investing in Portuguese stocks or Portuguese Investment Funds which are exclusively investing outside of Portugal.

Due to the fact that several Investors when applying for their Investors Visa have choosen to buy sovereign bonds from other countries or by investing in their own investment funds, government is not restricting the options on which you can choose for investment to make sure the spirit of the law is respected.

For those investors which have already performed their investments, Government clarified that will be checking randomly the types of investments they have been doing and in case they do not respect the law spirit will be notified to reconvert their assets. By the time of renewals any investor which holds a capital investment in the bank by using foreign titles, it will be required to reconvert their assets in acceptable investment options in order to have their applications successfully processed.

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Golden Visa

Investor Visa Portugal : I have 3 wifes can I join all my wife and children into my application?

Investor Visa Portugal - Can I join many wifes to my golden visa application ? What about kids from those wifes ?

Many countries allow marriage between a man and several women. In those cases investors usually ask us how they will manage to insert all their wifes together with their children into their investor visa application. In fact by Portuguese law there is possibility to recognize only one wife, so looking into this perspective there is no possibility to add into their application all the wifes as spouses. As for the children, as long as all of them have the investor name in their birth certificate, you will be able to directly join all kids even if they are from different wifes.

In resume, all children will be able to join the program, for the wife position you will need to select one. To solve the problem of having several wifes out of this application you can always make them an investor themselves and make a separate application for them.

The application for this visa does not discriminate any national from any country or by race or religion. All nationals, all races and all religions are welcome to join the program and become a residence permit investor.

So far there is also no restriction in the amount of applications approved by month or year. It becomes a very straight forward process, if you invest within the requirements and present the correct paperwork, you will be granted with a golden visa and become a Portugal Investor Visa member.

 

 

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