Reuters Reports That Portugal Likely to Scrap Much-Criticised ‘Golden Visa’ Scheme

News outlet Reuters is reporting that Portugal could be ready to scrap their Golden Visa program.

Speaking at Lisbon’s Web Summit, Europe’s largest tech event, Portugal’s Prime Minister Antonio Costa said several visa schemes offered by Portugal were currently being re-evaluated and the golden visa was one of them.

“(It) probably has already fulfilled the role it had to fulfil and, at this moment, is no longer justified to keep it”, Costa told reporters.

We don’t love to speculate but CBI and RBI have been under fire recently and have been heavily criticized for sending house prices and rents up, and the European Commission has called for the end of such national schemes.

The good news is Portugal has done incredible work creating programs that will truly stimulate their economy and  innovation. They have created well thought out programs like the HQA Visa Program which provides EU residency to highly qualified business people when they start a research backed venture in Portugal, as well as the newly announced digital nomad visa.

You can read the full article from Reuters here


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