Matías Apparcel describes the options of the “Golden Visa” program in Diario Financiero
The Portuguese Citizenship by Investment Program is a strategy to attract foreign capital to Portugal and allows families to obtain a European passport through a specific investment, simply by visiting the country for seven days a year. The expert opinion of the founder of AIM Global and partner at the law firm Apparcel Uriarte Abogados was published in the Monday, August 28, 2023 edition of [publication name missing]. Diario Financiero.
The President of Portugal, Marcelo Rebelo de Sousa, has decided to veto the "Mais Habitação" bill, which aimed to eliminate real estate investment as a pathway to the "Golden Visa." The head of state has returned the legislative proposal to the Assembly of the Republic in Lisbon, thus providing a New window of opportunity to apply for the residence by investment program and obtain a European passport.
This successful program, also known as “Golden Visa”, was originally created as a plan to stimulate the Portuguese economy and has managed to attract, to date, investments of more than seven billion euros, of which seventy percent has been allocated to the purchase of real estate.
In addition to the option of Direct investment in real estate from €280.000The Portuguese program offers various alternatives, including investment funds, capital transfers to scientific research institutions, and contributions to artistic production or the maintenance of Portuguese cultural heritage, such as investment in feature films shot primarily in Portugal. Among the latter, the option to invest in the production of a film featuring, among others, the Spanish actor Antonio Banderas is particularly noteworthy.
Why Portugal?
The Portuguese Golden Visa program stands out among other European programs because it does not require investors to relocate to Portugal, allowing them to continue residing in their country of origin. In terms of minimum stay, program participants They only need to visit the country for Seven days per year, over five years, making it a unique program. In contrast, the equivalent program in Spain requires Latin American investors to live in the country for at least 18 months within a two-year period if they wish to obtain a Spanish passport for their family.
Once the investment is made, the investor and their family are granted the right to live, work and study in Portugal, in addition to to move freely within the 27 countries of the Schengen Area for 5 yearswith the possibility of obtaining Portuguese citizenship or a passport at the end of that period. Once the passport is obtained, the investor is not required to maintain the investment.
"This program is focused on people who want to diversify their assets without having to stop living in Chile. but if they wish obtain a European passport"...with all the family benefits that entails." stated Matías Apparcel, partner at the Apparcel Uriarte Abogados firm, the only Chilean firm in Portugal, as well as director of the Chile-Portugal Chamber of Commerce.
Likewise, Benjamin Valdivia, de the AIM Global agency with headquarters in Santiago and Lisbon, He indicated that the company offers expert advice to explore different investment alternatives (whether investment in funds, real estate, or audiovisual productions), and provides assistance throughout the entire process, without the client having to travel to Portugal. “We advise Chilean investors and family offices that are interested in Investing in Portugal, whether or not it's for acquiring a European passport, is a great option. We've created a private investment fund with Chilean farmers looking to buy land and take advantage of the European off-season, allowing them to maintain production year-round. Adding to this the possibility of obtaining a Portuguese passport for the farmer's family makes it a true win-win situation.
Page 28 of Diario Financiero, Monday, August 28, 2023:
