In 2019, the Portuguese government introduced the Green Visa and defended the already successful original Golden Visa options. This new Portugal Green Visa allows investments in ecotourism, organic agriculture renewable energy, and a wide range of environmental projects in exchange for the residency, and later the citizenship of the EU Member State.
Interestingly, only the Greens voted against the proposal from the PAN (People, Nature, Animals) in the Parliament. Meanwhile, the proposal went through with the three-quarter of the votes.
André Silva, leader of PAN, said to the JN that “the approval of the Green Visa will serve to reinforce Portugal’s role in attracting international ecological investment, while simultaneously ensuring the transition to a circular and carbon-free economy“.
According to the PAN’s announcement investments of any designed areas will qualify above 250,000 euros.
Since the introduction of Portuguese Golden Visa scheme, the residency by investment programme generated an accumulated investment of 4.155.454.320,27 EUR from which 3.769.059.383,67 EUR in the acquisition of real estate and 386.394.936,60 EUR in the capital transfer option. The foreign direct investment helped the Portuguese economy and the suffering real estate market to survive the harsh and long crisis.
The most popular investment option until the launch of this new solution was the real estate purchase option. Investors can buy one or more residential real estates for at least half a million euros to meet the requirements.
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