On the 14th of April the final proposal was announced to the public, which states that there will be no retroactive effect for applications that have already been submitted and new applications will continue to be accepted up until the new law officially comes into force. For this to happen, the new bill will be submitted to parliament for approval and ratification must be performed by the President, a process that will take at least 45 days to conclude.
In order to address these recent changes, Wyndham Grand Algarve is holding a webinar on April 29th at 5pm (GMT), titled ‘Golden Visa: Now or Never’, which will provide clarity to those who have already invested or are considering doing so.
Prior to its termination, Portugal's Golden Visa programme was one of the most successful residency-through-investment programmes in Europe, attracting over €6.6bn in investment revenue and issuing more than 11,600 permits to primary applicants within a decade.
Final wording of the “Mais Habitação” bill appears to show that the government has yielded on some points of the original rhetoric, which may go some way towards appeasing critics and stakeholders. The new bill provides a glimmer of hope for investors and is expected to be discussed during the Wyndham Grand Algarve webinar.
The webinar will feature speakers including Ana Damásio, Director of Real Estate Sales & Marketing, who will be addressing the Golden Visa’s current status, and Alexander Clayton, Senior Real Estate Executive at the Wyndham Grand Algarve, who will be exploring the topic ‘Branded Residences – The Investment Property you Need’.
Additionally, Marisa Costa of law firm Martínez-Echezarria Ferreira, will offer advice on how to secure a visa.
A number of the Wyndham Grand Algarve's branded residences, a highly popular product among Golden Visa investors due to its location, flexible ownership, and potential returns on investment, are still available. These ready-to-go residences include one- and two-bedroom apartments and three-bedroom penthouses, located in the heart of the exclusive Quinta do Lago resort, one of southern Europe’s most prestigious lifestyle destinations.
The webinar will also offer exclusive purchasing conditions for webinar participants on the few remaining Wyndham Grand Algarve residences. Interested parties are encouraged to enrol as soon as possible, as webinar places are limited.