{"id":27406,"date":"2022-11-12T23:57:45","date_gmt":"2022-11-12T23:57:45","guid":{"rendered":"https:\/\/www.africa-press.net\/ghana\/?p=27406"},"modified":"2022-11-12T20:39:56","modified_gmt":"2022-11-12T20:39:56","slug":"one-of-south-africas-most-popular-routes-to-an-eu-passport-may-be-coming-to-an-end","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/ghana\/all-news\/one-of-south-africas-most-popular-routes-to-an-eu-passport-may-be-coming-to-an-end","title":{"rendered":"One of South Africa\u2019s most popular routes to an EU passport may be coming to an end"},"content":{"rendered":"

Africa-Press – Ghana. <\/strong><\/span>he days of citizenship-by-investment schemes in Europe may be coming to an end, warns immigration specialist, Sable International.<\/p>\n

Citing statements from Portugal\u2019s Prime minister, Anto\u0301nio Costa, earlier in November, the group warned that these types of investment plans\u2019 days may be numbered after he revealed that his administration is re-evaluating its Golden Visa Programme.<\/p>\n

Costa said that the programme has likely served its purpose and is no longer justified at this time. Evaluations on the programme are ongoing.<\/p>\n

\u201cWhen you are making an evaluation, you consider all the possibilities. And after the evaluation is completed, decisions are made, and possibilities become decisions. We are currently evaluating whether the golden visas make sense,\u201d he said.<\/p>\n

According to Sable, the reason for the introduction of the Golden Visa in 2012 was to support the recovery of the Portuguese economy, especially the real estate sector, following the financial and debt crisis that started in 2007.<\/p>\n

\u201cUnder this Golden Visa Portugal programme, investors from non-EU countries can obtain Portuguese residency in exchange for a capital investment. Over the last ten years, Portugal has granted 11,180 residence permits to wealthy foreign citizens in exchange for investments totalling approximately EUR 6.5 billion,\u201d it said.<\/p>\n

The majority of the funds \u2013 primarily from South Africa, Brazil, and China \u2013 were invested in real estate.<\/p>\n

\u201cPart of the programme\u2019s success lies in the fact that foreigners can invest the entire amount \u2013 there is no government contribution \u2013 and can obtain residency in an EU country by absence, with only 35 days spent in Portugal over five years. It is also one of the more affordable EU programmes, with qualifying property investment starting at only EUR 280,000,\u201d Sable said.<\/p>\n

While the prime minister\u2019s comments have sparked concern among investors, Sable said that even if the Portuguese government cancels the programme, no new legislation can be applied retroactively, and all investors and applicants already registered for the programme and in the middle of the process are therefore protected from the termination of the programme.<\/p>\n

\u201cIf you are still in the process of finalising your investment, you can be confident that no official end date has been announced and that you can still submit your Golden Visa application to the Portuguese authorities.<\/p>\n

\u201cHowever, we advise you to start the process sooner rather than later, before the programme terminates,\u201d it said.<\/p>\n

The group also warned that the move by Portugal may be part of a wider move away from Golden Visas in the European Union.<\/p>\n

\u201cThe news comes after the EU Commission and Parliament voted in favour of proposed changes imposing restrictions on Golden visas in March 2022,\u201d it said.<\/p>\n

These changes include:<\/p>\n

Sable said the proposed changes are important because they are focused on preventing people that are involved in money laundering, tax evasion, and other crimes, from benefiting from such visas.<\/p>\n

\u201cSince its launch in 2012, the Portuguese Golden Visa has been one of the world\u2019s most successful residence-by-investment initiatives, largely due to its minimal residency requirements and flexible pathway to citizenship.<\/p>\n

\u201cThis is one of the main reasons why the EU Parliament has long criticised the Golden Visa and passport schemes, claiming that they are a shortcut to EU citizenship based solely on financial considerations,\u201d the group said.<\/p>\n

While the Prime Minister\u2019s comments may be taken as an indication that the Golden Visa\u2019s days are numbered, no legislative decree to this effect has been issued, nor has the formal termination of the programme been announced.<\/p>\n

\u201cIf you were considering investing in the programme, there is still time to ensure you don\u2019t miss out,\u201d said Sable.<\/p>\n

Read: New bank branches where you can get your Smart ID and passport in South Africa<\/a><\/p>\n

For More News And Analysis About Ghana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Ghana. he days of citizenship-by-investment schemes in Europe may be coming to an end, warns immigration specialist, Sable International. Citing statements from Portugal\u2019s Prime minister, Anto\u0301nio Costa, earlier in November, the group warned that these types of investment plans\u2019 days may be numbered after he revealed that his administration is re-evaluating its Golden […]<\/p>\n","protected":false},"author":84,"featured_media":27405,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,3],"tags":[5092,5096,6891,429,8060],"class_list":["post-27406","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-community","tag-africa-press","tag-africa-press-ghana","tag-eu","tag-ghana","tag-popular"],"yoast_head":"\nOne of South Africa\u2019s most popular routes to an EU passport may be coming to an end - Ghana<\/title>\n<meta name=\"description\" content=\"he days of citizenship-by-investment schemes in Europe may be coming to an end, warns immigration specialist, Sable Inte ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/ghana\/all-news\/one-of-south-africas-most-popular-routes-to-an-eu-passport-may-be-coming-to-an-end\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"One of South Africa\u2019s most popular routes to an EU passport may be coming to an end\" \/>\n<meta property=\"og:description\" content=\"he days of citizenship-by-investment schemes in Europe may be coming to an end, warns immigration specialist, Sable Inte ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/ghana\/all-news\/one-of-south-africas-most-popular-routes-to-an-eu-passport-may-be-coming-to-an-end\" \/>\n<meta property=\"og:site_name\" content=\"Ghana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-12T23:57:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2022\/11\/postQueueImg_9-637004806a6a6.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"771\" \/>\n\t<meta property=\"og:image:height\" content=\"514\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/one-of-south-africas-most-popular-routes-to-an-eu-passport-may-be-coming-to-an-end#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/one-of-south-africas-most-popular-routes-to-an-eu-passport-may-be-coming-to-an-end\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"One of South Africa\u2019s most popular routes to an EU passport may be coming to an end\",\"datePublished\":\"2022-11-12T23:57:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/one-of-south-africas-most-popular-routes-to-an-eu-passport-may-be-coming-to-an-end\"},\"wordCount\":639,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/one-of-south-africas-most-popular-routes-to-an-eu-passport-may-be-coming-to-an-end#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2022\/11\/postQueueImg_9-637004806a6a6.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Ghana\",\"EU\",\"ghana\",\"Popular\"],\"articleSection\":[\"all news\",\"community\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/ghana\/all-news\/one-of-south-africas-most-popular-routes-to-an-eu-passport-may-be-coming-to-an-end#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/one-of-south-africas-most-popular-routes-to-an-eu-passport-may-be-coming-to-an-end\",\"url\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/one-of-south-africas-most-popular-routes-to-an-eu-passport-may-be-coming-to-an-end\",\"name\":\"One of South Africa\u2019s most popular routes to an EU passport may be coming to an end - 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