On May 4th, Bloomberg Online posted an article about the impending death of Golden Visa programs in the EU, siting the driver for shutting down “golden visa” programs across Europe is rising home prices. These CBI (citizenship by investment)  programs allow foreign investors to obtain residency or citizenship in exchange for significant investments in real estate or other assets. As property prices surge in cities such as Lisbon, Barcelona, and Athens, lawmakers throughout the EU are arguing that these programs are exacerbating housing shortages and driving up prices for local residents.

Bloomberg’s article highlights Portugal’s golden visa program, which has been particularly popular among Chinese investors, has already undergone significant changes in response to similar concerns, and other countries are likely looking to follow suit. In 2023, the Portuguese government announced that it would eliminate the real estate option for CBI, requiring investors to put their money into more productive assets such as research and development (this is where Portugal’s HQA Visa™ takes over for the Golden Visa).

Portugal’s new HQA Visa program, which is slated to be the best alternative to a Golden Visa, is currently attracting investors looking for a way to obtain residency in the country. Unlike the golden visa program, which was criticized for its focus on real estate, the HQA Visa program prioritizes investment in R&D, entrepreneurship, and innovation.

Here are some of the reasons why the HQA Visa may be a great alternative:

• The HQA Visa program is designed to attract investors, domain experts, entrepreneurs, and executives who are interested in obtaining Portuguese/EU citizenship.
• The HQA Visa Program aims to recruit highly qualified foreign professionals and investors, with domain expertise, business leadership, or entrepreneurial experience, to start and finance research projects at Universities and Polytechnics.
• Investors who obtain an HQA Visa will have access to a range of benefits, including tax breaks, residency rights, and fast-track citizenship options.
• The HQA Visa program is part of a larger government initiative to promote sustainable economic growth and development in Portugal, which could lead to even more opportunities for investors in the future.

Overall, Portugal’s HQA Visa program is a more sustainable and strategic approach to attracting foreign investment than the golden visa program. The focus on quality investment, critical sectors, and access to benefits can benefit both investors and the Portuguese economy in the long run.

What do you think?

Photo by Samuel Jerónimo

Empowered Startups is making headlines for their recent partnership with Instituto Politécnico de Portalegre, a renowned educational institution in Portugal. This partnership provides a pathway for entrepreneurs and domain experts to utilize world class R&D provided by Instituto Politécnico de Portalegre to assist in commercializing and building their ideas.

The partnership between Empowered Startups and Instituto Politécnico de Portalegre is a significant step towards attracting business investment and innovation in the country.

This initiative has received coverage in various publications, including CM Jornal, Dinheiro Vivo, and the Observador. These publications have recognized the importance of this partnership and the potential impact it can have on the local economy.

As this initiative gains traction, it will be exciting to see the impact it has on the Portuguese economy and the global startup community.

Empowered Startups has released the 3rd video in a series of recordings highlighting the Portugal HQA Visa Program. In this video we hear from participants of Empowered Startups’ Portugal HQA (Highly Qualified Activity) Visa Program, who share their personal experiences and insights on this unique opportunity.

Whether you are considering applying for the HQA Visa Program, pivoting away from the Golden Visa due to it’s shutdown, or simply interested in learning more about the HQA, this video offers a valuable firsthand perspective from those who have gone through the program themselves.

Empowered Startups’ HQA Visa Program, and Empowered’s recent endorsement by the Portuguese government have been featured in the Portuguese publication Jornal Económico, a newspaper specializing in the economy, business, and finance.

Empowered Startups, a Canadian multinational based in Évora, has been operating its HQA Visa program in Portugal for a little over three years, but recently delivered to the Government a Commitment Letter agreeing to recruit 50 new entrepreneurs, business executives, and domain experts to invest in new projects within the next 12 months, and then to grow the program further each year thereafter. The Commitment Letter was presented to the Minister of Territorial Cohesion, Ana Abrunhosa in a session, at the Alentejo Science and Technology Park, earlier this year, on February 8^th, 2023.

Empowered Startups has already established partnerships with the universities of the Algarve, Aveiro, Beira Interior, and Évora, and with the polytechnic institutes of Bragança, Guarda, Leiria, and Santarém. With the addition of University of Beira Interior (UBI), Empowered Startups will further its commitment to expand the program to Universities and Polytechnics throughout the interior regions.

For more information on the Portugal HQA Visa Program visit empoweredstartups.com

Photo by Lisa Fotios