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PORTUGAL - PROPOSAL TO AMEND THE IMMIGRATION LAW FOR GOLDEN VISA PROGRAM

Following the recent media coverage about the meeting of the Council of Ministries, which took place on 16^th February 2023, we would like to inform its investors that the Government has presented the general terms of a preliminary proposal of housing reforms, which included among other an amended to the Immigration Law, known as ENTRY, STAY, DEPARTURE AND REMOVAL OF FOREIGNERS FROM THE NATIONAL TERRITORY (Law 23/2007, from 04 of July).

Hon. Prime Minister of Portugal, Mr. Antonio Costa, on 16^th February 2023, announced a set of measures to ease the housing problem in Portugal. These actions in part impact and call for end of the Portuguese immigrant investor program known as Golden Visa. This statement will significantly impact any interested in the program Golden Visa programme.

The statement does not immediately constitute a change in law. Greatly like the U.S. classification, a change in law requires a legislative change. This cannot be done at the will of the decision-making. In other words, the Portuguese Prime Minister and his government do not have the legislative capability to eliminate or change the Golden Visa Program. Under Portuguese law, only the Parliament has that capability. It is expected that the Assembly will receive a offer from the Government to this end which they will then vote on.

Previous to any vote taking place there will be a mandatory one-month period through which public hearings can be showed on the matter, after which a final proposal will be sent to the Assembly for discussion on 16^th March 2023. The Assembly has few days to review the proposal. If it is approved, the measure will be sent to the President who can then:

• Approve it and provide a transitional period for enaction.
• Discard the proposal and return it to the Assembly for revision.
• Receive the proposal to terminate the Golden Visa program but request that the Constitutional Court review it to determine if it adversely impacts any fundamental rights of those already in process

No final decision on program termination or what that will look like is currently in effect

Any changes will have a clearly defined effective date which is not the date of yesterday’s announcements.

SUBSEQUENT STAGES:

• The Prime Minister has advised that all applications already submitted will be honoured and renewed accordingly to the existing policy.

• Submitted applications will be reviewed and adjudicated for process.

• New applicants who have made an investment but has not yet submitted their application for the Golden Visa should apply as soon as possible.

• New applicants currently considering the Golden Visa for Portugal should go ahead in making an investment now and applying for their Residence permit.

We will update all our clients based on the public hearing during the month of march to describe the benefits of enacting a transition period for several months, or eventually until the end of the year.

Our Law firm will be taking part actively time-to-time and keep our prospective clients informed about the current discussion and decisions on the Golden visa to Portugal.

Bilimoria & Associate is a leading immigration visa service provider in India and has seamlessly helped thousands of people migrate to different countries towards obtaining Residence visas / permit.

Whether you are looking to build your future in Australia, New Zealand, Canada, the USA, the UK, or Portugal, we will guide you and do the needful in fulfilling your dream to live and work in these countries. Meanwhile, if you have any queries related to immigration, the visa process or the latest updates, you can call our office on +91 44 2823 9229 / +91 44 2822 7127 / +91 444 350 8191 (or) mail us at neville@bilimoriaassociate.com 

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