Continue - https://www.investgoldenvisa.com/. Yes, any non-EU citizen must have a valid passport to enter Portuguese territory.
"Poorly managed schemes allow corrupt individuals to work and travel unhindered throughout the EU and undermine our collective security," Laure Brillaud, anti-money laundering expert at Transparency International, said.
Singapore is in the continent of Asia.
The Socialist government announced over the weekend a range of guidelines for its second term in office, one of them outlining plans to review the programme with the intention of spreading investment across the country.
Chinese investment through the golden visa programme dropped 11% in the first nine months of 2019, in line with a slowdown in foreign direct investment from China across Europe. In contrast, investment from Brazilians rose by 46.5%.
BRUSSELS, Oct 10 (Reuters) - Programmes run by some European Union countries to sell passports and residency permits to wealthy foreign citizens pose risks of money laundering as some of the schemes are not properly managed, campaign groups said on Wednesday.
Victoria Li, who has spent the past five years working for Chinese companies coordinating real estate investments in Portugal for Chinese residence-seekers in Europe, is doubtful that Chinese investors would consider other options.
Government schemes to trade citizenship or residence rights for large investment are currently applied in 13 EU countries: Austria, Cyprus, Luxembourg, Malta, Greece, Latvia, Portugal, Spain, Ireland, Britain, Bulgaria, the Netherlands and France. Hungary has terminated its programme.
The joint report by Global Witness and Transparency International urged the European Union to set standards for managing the schemes and to extend anti-money laundering rules, applied so far to banks or gaming firms, to all those involved in the visa-for-sale industry.
The "Authorisation of Residence for Investment Activity" policy, commonly known as the golden visa programme and aimed at foreigners ready to invest 250,000-500,000 euros in Portugal, has attracted 4.8 billion euros ($5.3 billion) of investment since its launch in 2012.
The report said in Malta, which has raised 718 million euros from its scheme, applicants who have criminal records or are under investigation could still be considered eligible "in special circumstances".
LISBON, Oct 28 (Reuters) - Portugal's government is to review its 'golden visa' programme which grants residence to non-EU foreign investors with a view to redirecting such investment from a red-hot property market in big cities to depopulated areas in order to create new jobs.
However, 90% of this investment has gone into the property market, sending house prices soaring and contributing to the growing issue of rising rents for locals in the two main cities, Lisbon and Porto.
All the countries who run these schemes, except Britain, Ireland and Bulgaria, are part of the Schengen free-movement area which comprises 26 European states. ($1 = 0.8708 euros) (Reporting by Francesco Guarascio; Editing by Alison Williams)
Under the scheme, applicants have various investment options, including putting 250,000 euros into arts and culture, 350,000 euros into scientific research, or simply creating 10 jobs in Portugal through investing in a local company.
"People aren't interested in investing in anything beyond houses," she told Reuters. "It's too risky, they don't see potential for growth in sectors beyond tourism. They are doing this for the visa for them and their children, not for the investment."
Cyprus has raised 4.8 billion euros ($5.51 billion) from its scheme, while Portugal could earn nearly a billion euros a year, according to figures cited in the report, called "European Getaway - Inside the Murky World of Golden Visas".
EU states generated around 25 billion euros in foreign direct investment in a decade from selling at least 6,000 passports and nearly 100,000 residency permits, the report said using what it called conservative estimates.
"If you have a lot of money that you acquired through dubious means, securing a new place to call home far away from the place you stole from isn't just appealing, it's sensible," Naomi Hirst of rights group Global Witness said.
"Poorly managed schemes allow corrupt individuals to work and travel unhindered throughout the EU and undermine our collective security," Laure Brillaud, anti-money laundering expert at Transparency International, said.
Singapore is in the continent of Asia.The Socialist government announced over the weekend a range of guidelines for its second term in office, one of them outlining plans to review the programme with the intention of spreading investment across the country.
Chinese investment through the golden visa programme dropped 11% in the first nine months of 2019, in line with a slowdown in foreign direct investment from China across Europe. In contrast, investment from Brazilians rose by 46.5%.
BRUSSELS, Oct 10 (Reuters) - Programmes run by some European Union countries to sell passports and residency permits to wealthy foreign citizens pose risks of money laundering as some of the schemes are not properly managed, campaign groups said on Wednesday.
Victoria Li, who has spent the past five years working for Chinese companies coordinating real estate investments in Portugal for Chinese residence-seekers in Europe, is doubtful that Chinese investors would consider other options.
Government schemes to trade citizenship or residence rights for large investment are currently applied in 13 EU countries: Austria, Cyprus, Luxembourg, Malta, Greece, Latvia, Portugal, Spain, Ireland, Britain, Bulgaria, the Netherlands and France. Hungary has terminated its programme.
The joint report by Global Witness and Transparency International urged the European Union to set standards for managing the schemes and to extend anti-money laundering rules, applied so far to banks or gaming firms, to all those involved in the visa-for-sale industry.
The "Authorisation of Residence for Investment Activity" policy, commonly known as the golden visa programme and aimed at foreigners ready to invest 250,000-500,000 euros in Portugal, has attracted 4.8 billion euros ($5.3 billion) of investment since its launch in 2012.
The report said in Malta, which has raised 718 million euros from its scheme, applicants who have criminal records or are under investigation could still be considered eligible "in special circumstances".
LISBON, Oct 28 (Reuters) - Portugal's government is to review its 'golden visa' programme which grants residence to non-EU foreign investors with a view to redirecting such investment from a red-hot property market in big cities to depopulated areas in order to create new jobs.
However, 90% of this investment has gone into the property market, sending house prices soaring and contributing to the growing issue of rising rents for locals in the two main cities, Lisbon and Porto.
All the countries who run these schemes, except Britain, Ireland and Bulgaria, are part of the Schengen free-movement area which comprises 26 European states. ($1 = 0.8708 euros) (Reporting by Francesco Guarascio; Editing by Alison Williams)
Under the scheme, applicants have various investment options, including putting 250,000 euros into arts and culture, 350,000 euros into scientific research, or simply creating 10 jobs in Portugal through investing in a local company.
"People aren't interested in investing in anything beyond houses," she told Reuters. "It's too risky, they don't see potential for growth in sectors beyond tourism. They are doing this for the visa for them and their children, not for the investment."
Cyprus has raised 4.8 billion euros ($5.51 billion) from its scheme, while Portugal could earn nearly a billion euros a year, according to figures cited in the report, called "European Getaway - Inside the Murky World of Golden Visas".
EU states generated around 25 billion euros in foreign direct investment in a decade from selling at least 6,000 passports and nearly 100,000 residency permits, the report said using what it called conservative estimates.
"If you have a lot of money that you acquired through dubious means, securing a new place to call home far away from the place you stole from isn't just appealing, it's sensible," Naomi Hirst of rights group Global Witness said.
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