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Madeira plans to keep Golden Visa programme

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Madeira
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Miguel Albuquerque, the head of government of the Madeira region, said that the residence permits for investments should be maintained in the islands. The politician criticised the latest More Housing programme (Mais Habitação) which includes cancelling the residence permit scheme for investment.

The politician noted that the Portuguese authorities were forgetting municipalities and regions which need investments, foreign nationals‘ capital, and the renovation of housing stock and historic centres.

The Madeira authorities are going to make a final decision related to the Golden Visa program autonomously. Currently, the More Housing programme is under public discussions. This programme will not only contribute to cancelling the investment permit scheme, but will include other functions: increase of housing supply, increase of the houses for rental market, protection of low-income families, simplifying licensing procedure, and fight against speculation. Madeira has to submit its proposals until March 16, 2023.

Source: The Portugal News

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