Laszlo Kiss managing director talking about the Portuguese Golden Visa's citizenship issues
Published at: 26/04/2019 10:33 am
Discus Holdings' managing director shared his opinion in the Investment Migration Insider about the naturalisation process related to the Portuguese Golden Visa.
"Six years after the start of Portugal’s Golden Visa program the first batch of participants have filed applications for citizenship. So far, no immigration specialist has come out with the news that “my client has received Portuguese citizenship!”, said Laszlo Kiss to imidaily.com.
The issue became interesting after Augusto Santos Silva, Minister of the Foreign Economic Affairs told in an interview that "the program does not intend to grant citizenship or Portuguese nationality, but rather to facilitate the granting of permits (for foreigners) to reside in Portugal". He also noted that there are 19 other Member States of the European Union (EU) that owns similar investors' immigration schemes.
Portuguese residents under the Golden Visa Scheme can maintain their resident status without physically residing in the country. However, they must spend at least seven days per year in Portugal. "Of course, those residents who really moved to Portugal and have been living there for five years have an excellent chance to obtain citizenship, but those participants are a small minority", said Laszlo Kiss to the leading portal of the immigration industry.
The Portuguese Minister stressed out that the program needs further developments because the capital inflow decreased by 33% in the first quarter to 196,8 million euros.
Until March 2019, a total of 7291 successful investors obtained the Portuguese Golden Visa, most of them preferred to buy residential real estates and almost 400 applicants opted to move their capital in the EU country and 15 created more than ten jobs in Portugal.
4180 Chinese, 711 Brazilian, 331 Turkish, 286 South African and 254 Russian citizens obtained the right to live in Portugal through investment since 2012.
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