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PORTUGAL CHANGES LAW ON GOLDEN VISA

Based on the news update received the State Council meeting that took place yesterday, with the attendance of the President of the Republic and the Prime Ministry, we were informed that the Government has scheduled, at the Parliament, the return of the discussion for the “Mais Habitação” law. According to the information received, the dialogue will take place on 21st September trailed by the approval vote on 22nd September 2023.

As formerly described, is likely that the Government Party (PS – Partido Socialista), which holds the mainstream of seats in the parliament, reconfirms the “Mais Habitação” law. If so, and meanwhile only the majority of the votes are necessary for this matter, the next step in this development is to send the document to the President of the Republic.

After the selected by election, the bill will be engaged to the President within the following 5 to 7 business days. Upon getting the law the President has an 8-days target to decide if he will issue it or not on the law. 

Therefore, we strongly advice to all our applicants is to move onward as soon as possible. The investment amount still hold good to invest on  EUR 280,000 or EUR 350,000 towards obtain the family residence permit in Portugal and enjoy free travel within the 26 nation members of the Schengen zone.

• The main benefits of the program are the various choices of investments, fast processing and a minimal requirement for residency.
• This makes Golden visa the fastest growing investment immigration program in Europe.
• We are now recommending new project  on EUR 280,000 and EUR 350,000 project at flagged under an International brand which is a 4 and 5-star category.  Please contact us and we shall share with you the complete project details.

The present timelines will permit investors and the applicant to start and lodge their application before the probable end of the Golden Visa program.

It is our understanding, that it is vital that all our client and prospected clients should make use of the current average time to conclude the investment, with  our law firm working  take about one week, which – under current timing, offers sufficient time to participate still and be part of the Portuguese investment program.

PROJECT BENEFITS:

• Guarantee Buyback after 6 years
• Guaranteed Annual return of 3%
• 7 Days Free Stay per year in project Hotel in Portugal
• IMT paid by the Developer
• VAT included paid by the Developer
• IMI exemption during the construction period

OUR PROJECTS:

• We have 8 projects that are presently operating after the completion and are also used for our new clients’ stay while in Portugal after they have their Residence permit obtained for their free 7 days stay.
• We have 15 projects under construction. 

As advised, we are one of the major contributors under the EU towards Portugal golden visa program working with Immigration department - Serviço de Estrangeiros e Fronteiras  -  SEF  (Foreigners and Borders Service) towards obtaining the residence permit and citizenship for our clients.

We therefore advice all our clients to move forward as soon as possible with their investments towards obtaining their Portugal Golden visa for themselves and their family members.  Therefore, it is important the investor makes use of the current timeline that will allow the investors to start and submit their immigration application process before the end of the Golden Visa program.

Therefore, it is important that we advise all our prospective clients / our investors aware that the current average time to complete in the preparation of application for lodgment will take about 7-14 days with the Law firm to complete the process for lodgment with Serviço de Estrangeiros e Fronteiras - SEF (Foreigners and Borders Service) Immigration department.

With the current timing, a potential investor can still be part of the Portuguese investment program and having their Residence permit obtained for themselves and their family members.

We will remain to update the situation as closely as possible in keeping our client, investors and partners up-to-date of any developments while remaining available for any clarifications towards lodgment of a family application.

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 all clint around the world and with seamlessly assisted thousands of families 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, Bilimoria & Associate will guide you and your family to fulfil your dream to live and work in these countries.

For further 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 44 4350 8191 (or) write to us at neville@bilimoriaassociate.com

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