Like Tree10Likes

Good advisors for Portugese Golden Visa in HK?

Closed Thread
Page 2 of 2 FirstFirst 1 2
  1. #11

    Don't know much about the golden visa specifics, but happy to answer any general questions you might have about Portugal.

    Source: I'm Portuguese.

    If you do put your plan forward, then best of luck with the whole process and welcome to Portugal!

    shri, rainylin and HK_Katherine like this.

  2. #12

    Join Date
    Dec 2013
    Location
    Hong Kong
    Posts
    12,325

    I guess my main question is how to find reputable funds to invest in for the fund-based investment. Google provides many options but how to ensure they are legit and likely to yield a return!


  3. #13

    Join Date
    Feb 2009
    Location
    Hong Kong
    Posts
    2,518

    I'm applying for the Golden Visa and using a Portuguese law firm called Cuatrecasas. They are not the cheapest but their professionalism gives me comfort. I haven't kicked off the application yet, but I have worked with them in my professional role and it's this that made me want to use them personally.


  4. #14

    Join Date
    Nov 2007
    Location
    Wanchai
    Posts
    5,067
    Quote Originally Posted by HK_Katherine:
    I'm looking at the Portugal Golden Visa as an option to regain EU citizenship. Never been to Portugal so it's all a bit of a mystery to me (and of course travel makes it harder). When I search online, a load of options pop up for people with offices in HK.. has anyone used one of these? Any personal experience? It would obviously be more convenient to use a HK advisor, but not if they are useless/expensive/give bad advice......
    Hi Katherine, i have a good contact if you still need?

  5. #15

    Join Date
    Dec 2013
    Location
    Hong Kong
    Posts
    12,325

    Thanks everyone for the help. We picked our advisors and now just have to finalize our fund...

    Edwardstorm likes this.

  6. #16
    Quote Originally Posted by HK_Katherine:
    Thanks everyone for the help. We picked our advisors and now just have to finalize our fund...
    Would you mind letting us know who you went with? Thanks!

  7. #17

    Join Date
    Feb 2009
    Location
    Hong Kong
    Posts
    2,518

    Hi all, for those of you who have or have applied for a golden visa, there is a petition against the changes:

    https://peticaopublica.com/pview.aspx?pi=PT115859

    Use passport number to sign, signature confirmed by a validation email

    English translation:

    For the Defense of Portugal’s Image and Reputation among International Investors
    To: Your Excellency the President of the Republic, Your Excellency the President of the Assembly of the Republic, Your Excellency the Prime Minister
    More than 10 years ago, the Government had to ask for international foreign aid to ensure the financing of Portugal and the Portuguese economy. These were difficult years for all Portuguese people, in austerity, with more unemployment and less disposable income.

    In this context, and on the Government’s initiative, in 2012 a mechanism was introduced in the Foreigners’ Act to attract foreign investment, in this case investment by nationals of non-EU countries, allowing them, upon meeting certain conditions, to become holders of a residence permit in Portugal, which came to be known as a “gold visa”.

    Over the years, this mechanism has been one of the flagships of economic diplomacy pursued by the government, by Portugal’s embassies abroad, and also by government investment attraction agencies.

    This residence permit quickly aroused the interest of international investors and sponsors, and it helped that Portugal was perceived as a stable and safe country, politically, economically, and socially.

    It wasn’t the investors who defined where to invest, nor the conditions for granting “gold visas”. It was the successive governments that modeled and perfected the respective legal regime in order to attract more investors, through differentiated investment activities, according to the amounts, types of investment, and location.

    The result of this public policy of attracting investment is visible in the statistics released by the Foreigners and Borders Service. Between October 2012 and February 2023, 11,758 residence permits were granted to citizens from the four corners of the world, with the overall value of this investment exceeding 6.8 billion Euros.

    Over the years, the Foreigners and Borders Service has never met the deadlines set by law for processing applications, leaving investors months and years waiting for a favorable response, despite the large administrative fees paid by them and their families.

    On November 9, 2022, after the Prime Minister stated that he was considering putting an end to the “gold visa” regime, the Minister of Economy publicly announced the creation of a commission with representatives from the Ministries of Economy, Internal Administration and Foreign Affairs to evaluate the program’s impact.

    By 2023, and as part of a broader program (Mais Habitação) aimed at adopting emergency measures to respond to the difficulties faced by Portuguese families in accessing decent housing at prices compatible with their income, investors were surprised by the Portuguese government’s abrupt decision to end the “golden visa” regime, allegedly because it contributed to real estate speculation.

    The truth is that the government is not just trying to close down this instrument for attracting investment to our economy, its purpose being to protect the Portuguese people’s access to housing.

    Without any impact study of this program having ever been made, namely as to its return in terms of wealth generated, jobs created, taxes collected, the Government also wants to take away the residence permit that was granted to around 12,000 investors and around 20,000 family members in exchange for their investment in Portugal, imposing on them a permanent residence obligation that was not initially established.

    In other words, the Government’s proposal is not limited to preventing new investments from being made. It intends to go further, with other objectives that have nothing to do with the Mais Habitação Program and that reveal a strange prejudice against foreign citizens who should also be protected by the rule of law in Portugal

    All these citizens are seeing the protection and security of their investments jeopardized by measures that are unjustified and discriminatory.

    These citizens thus feel defrauded by the Portuguese State which, between 2012 and 2022, actively promoted a mechanism aimed at making investments and donations under certain conditions that are now being changed, without their constitutionally protected rights or interests being safeguarded.

    In light of the above, the undersigned hereby appeal to the Government, in the persons of the Prime Minister and the Minister of Housing, to all Members of Parliament and, ultimately, to the President of the Republic, that, with regard to the “gold visas” regime and within the scope of their respective powers

    Avoid the adoption of any measures that have a retroactive nature, in clear violation of the Constitution of the Portuguese Republic, by offending the principles of legal certainty and the protection of confidence.

    Avoid the adoption of any measures that affect the stability of investments made in Portugal and change the assumptions under which these investors were granted residence permits designed for this category, namely by contradicting the obligation that was legally imposed on them to maintain the investments in question for a minimum period of 5 years.

    Allow for a legislative transition that protects all ongoing investments and does not affect a sector of activity that has always sought to adapt to the requirements that have been imposed from time to time.

    Adopt measures that do not contribute to a massive recourse to the courts to demand from the Portuguese State fair compensation for damages caused by the application of unconstitutional legislation.

    HK_Katherine likes this.

  8. #18

    Join Date
    Dec 2013
    Location
    Hong Kong
    Posts
    12,325
    Quote Originally Posted by Beanieskis:
    Hi all, for those of you who have or have applied for a golden visa, there is a petition against the changes:

    https://peticaopublica.com/pview.aspx?pi=PT115859

    Use passport number to sign, signature confirmed by a validation email

    English translation:

    For the Defense of Portugal’s Image and Reputation among International Investors
    To: Your Excellency the President of the Republic, Your Excellency the President of the Assembly of the Republic, Your Excellency the Prime Minister
    More than 10 years ago, the Government had to ask for international foreign aid to ensure the financing of Portugal and the Portuguese economy. These were difficult years for all Portuguese people, in austerity, with more unemployment and less disposable income.

    In this context, and on the Government’s initiative, in 2012 a mechanism was introduced in the Foreigners’ Act to attract foreign investment, in this case investment by nationals of non-EU countries, allowing them, upon meeting certain conditions, to become holders of a residence permit in Portugal, which came to be known as a “gold visa”.

    Over the years, this mechanism has been one of the flagships of economic diplomacy pursued by the government, by Portugal’s embassies abroad, and also by government investment attraction agencies.

    This residence permit quickly aroused the interest of international investors and sponsors, and it helped that Portugal was perceived as a stable and safe country, politically, economically, and socially.

    It wasn’t the investors who defined where to invest, nor the conditions for granting “gold visas”. It was the successive governments that modeled and perfected the respective legal regime in order to attract more investors, through differentiated investment activities, according to the amounts, types of investment, and location.

    The result of this public policy of attracting investment is visible in the statistics released by the Foreigners and Borders Service. Between October 2012 and February 2023, 11,758 residence permits were granted to citizens from the four corners of the world, with the overall value of this investment exceeding 6.8 billion Euros.

    Over the years, the Foreigners and Borders Service has never met the deadlines set by law for processing applications, leaving investors months and years waiting for a favorable response, despite the large administrative fees paid by them and their families.

    On November 9, 2022, after the Prime Minister stated that he was considering putting an end to the “gold visa” regime, the Minister of Economy publicly announced the creation of a commission with representatives from the Ministries of Economy, Internal Administration and Foreign Affairs to evaluate the program’s impact.

    By 2023, and as part of a broader program (Mais Habitação) aimed at adopting emergency measures to respond to the difficulties faced by Portuguese families in accessing decent housing at prices compatible with their income, investors were surprised by the Portuguese government’s abrupt decision to end the “golden visa” regime, allegedly because it contributed to real estate speculation.

    The truth is that the government is not just trying to close down this instrument for attracting investment to our economy, its purpose being to protect the Portuguese people’s access to housing.

    Without any impact study of this program having ever been made, namely as to its return in terms of wealth generated, jobs created, taxes collected, the Government also wants to take away the residence permit that was granted to around 12,000 investors and around 20,000 family members in exchange for their investment in Portugal, imposing on them a permanent residence obligation that was not initially established.

    In other words, the Government’s proposal is not limited to preventing new investments from being made. It intends to go further, with other objectives that have nothing to do with the Mais Habitação Program and that reveal a strange prejudice against foreign citizens who should also be protected by the rule of law in Portugal

    All these citizens are seeing the protection and security of their investments jeopardized by measures that are unjustified and discriminatory.

    These citizens thus feel defrauded by the Portuguese State which, between 2012 and 2022, actively promoted a mechanism aimed at making investments and donations under certain conditions that are now being changed, without their constitutionally protected rights or interests being safeguarded.

    In light of the above, the undersigned hereby appeal to the Government, in the persons of the Prime Minister and the Minister of Housing, to all Members of Parliament and, ultimately, to the President of the Republic, that, with regard to the “gold visas” regime and within the scope of their respective powers

    Avoid the adoption of any measures that have a retroactive nature, in clear violation of the Constitution of the Portuguese Republic, by offending the principles of legal certainty and the protection of confidence.

    Avoid the adoption of any measures that affect the stability of investments made in Portugal and change the assumptions under which these investors were granted residence permits designed for this category, namely by contradicting the obligation that was legally imposed on them to maintain the investments in question for a minimum period of 5 years.

    Allow for a legislative transition that protects all ongoing investments and does not affect a sector of activity that has always sought to adapt to the requirements that have been imposed from time to time.

    Adopt measures that do not contribute to a massive recourse to the courts to demand from the Portuguese State fair compensation for damages caused by the application of unconstitutional legislation.
    Cheers. Signed and shared.
    Beanieskis likes this.