Invest Golden Visa - https://www.investgoldenvisa.com/portugal-golden-visa/. His office did not immediately reply to a request for comment. Costa has previously said there was no justification to keep the scheme because it had fulfilled the role it had been intended to fulfil, without elaborating.
"As soon as you put a deadline on something, it gets people rushing," Nuri Katz from another advisers, Apex Capital Partners, told Reuters. "There's absolutely nothing as good as a deadline in this business."
The scheme, aimed at non-EU nationals ready to invest in Portugal, has attracted 6.8 billion euros ($7.30 billion) since its launch in 2012, with the bulk of the money going into real estate. Successful applicants are then given residency rights.
LISBON, March 14 (Reuters) - Portugal's plan to end its golden visa scheme for investors, yet to be officially approved, has led to a rush in applications according to advisory firms who have criticised the plan as populist.
11. What items are included in the sale of the property?
The residences are sold fully furnished with designer kitchens with Smeg appliances, and Villeroy & Boch bathrooms. The interior designers are AB Concept.
Goncalo Roxo, of Portugal-based Your Property Advisor, said he had warned his clients against trying to speed up the process due to the risk from bureaucratic delays. ($1 = 0.9310 euros) (Reporting by Catarina Demony; Additional reporting by Patricia Rua; Editing by Andrei Khalip and Alison Williams)
Budget busters! Four in five projects on Grand Designs break... Life's a beach! Cornish town of St Ives named the most... Going Underground! How to transform a room in homage to the... Follow in the eco-footsteps of the Beckhams! Cool down at...
As part of a package to address the housing crisis as rents also soar, Portugal's premier Antonio Costa announced last month the intention to scrap the scheme. The measure is under public consultation until next Friday.
There is also stamp duty of 0.8 per cent of the purchase price and then a relatively massive property purchase tax - called Imposto Municipal sobre Transmissôes Onerosas de Imóveis - that is up to 6.5 per cent.
* Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.
4. What's so special about the properties?
Homeowners can enjoy all of the amenities at the W Hotel, including various music, fashion and design events, a 10,000 sq ft spa and fitness centre, outdoor pools and the several restaurants and bars. There will also be dedicated residents' only areas that include a swimming pool.
Alison Buechner Hojbjerg, a directors at QP Savills, said: 'These new properties are currently being built, and occupy an exclusive area on the beach front, where the coastline is incredibly beautiful with sandy beaches and pretty coves.'
In January, 93 golden visas were issued, a 45% drop compared to December, but the number went up again in February, when 130 were handed out, mainly to Chinese, U.S. and Turkish investors, according to border agency data.
While the data shows a jump in applications, the process can take months so it is not immediately clear whether the numbers are a reflection of the government's announcement, which was first floated in November.
The W brand is synonymous with fashionable luxury, with hotels across the world - and the new W residences for sale on Portugal's south coast aim to replicate the cutting-edge essence of the W Hotel brand.
Buyers own the properties outright as they only available to buy as freeholds. It is not a timeshare, although there is the option to incorporate the buy-to-let investment by buying the property through a company that a buyer sets up and owns.
"As soon as you put a deadline on something, it gets people rushing," Nuri Katz from another advisers, Apex Capital Partners, told Reuters. "There's absolutely nothing as good as a deadline in this business."
The scheme, aimed at non-EU nationals ready to invest in Portugal, has attracted 6.8 billion euros ($7.30 billion) since its launch in 2012, with the bulk of the money going into real estate. Successful applicants are then given residency rights.
LISBON, March 14 (Reuters) - Portugal's plan to end its golden visa scheme for investors, yet to be officially approved, has led to a rush in applications according to advisory firms who have criticised the plan as populist.
11. What items are included in the sale of the property?
The residences are sold fully furnished with designer kitchens with Smeg appliances, and Villeroy & Boch bathrooms. The interior designers are AB Concept.
Goncalo Roxo, of Portugal-based Your Property Advisor, said he had warned his clients against trying to speed up the process due to the risk from bureaucratic delays. ($1 = 0.9310 euros) (Reporting by Catarina Demony; Additional reporting by Patricia Rua; Editing by Andrei Khalip and Alison Williams)
Budget busters! Four in five projects on Grand Designs break... Life's a beach! Cornish town of St Ives named the most... Going Underground! How to transform a room in homage to the... Follow in the eco-footsteps of the Beckhams! Cool down at...
As part of a package to address the housing crisis as rents also soar, Portugal's premier Antonio Costa announced last month the intention to scrap the scheme. The measure is under public consultation until next Friday.
There is also stamp duty of 0.8 per cent of the purchase price and then a relatively massive property purchase tax - called Imposto Municipal sobre Transmissôes Onerosas de Imóveis - that is up to 6.5 per cent.
* Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.
4. What's so special about the properties?
Homeowners can enjoy all of the amenities at the W Hotel, including various music, fashion and design events, a 10,000 sq ft spa and fitness centre, outdoor pools and the several restaurants and bars. There will also be dedicated residents' only areas that include a swimming pool.
Alison Buechner Hojbjerg, a directors at QP Savills, said: 'These new properties are currently being built, and occupy an exclusive area on the beach front, where the coastline is incredibly beautiful with sandy beaches and pretty coves.'
In January, 93 golden visas were issued, a 45% drop compared to December, but the number went up again in February, when 130 were handed out, mainly to Chinese, U.S. and Turkish investors, according to border agency data.While the data shows a jump in applications, the process can take months so it is not immediately clear whether the numbers are a reflection of the government's announcement, which was first floated in November.
The W brand is synonymous with fashionable luxury, with hotels across the world - and the new W residences for sale on Portugal's south coast aim to replicate the cutting-edge essence of the W Hotel brand.
Buyers own the properties outright as they only available to buy as freeholds. It is not a timeshare, although there is the option to incorporate the buy-to-let investment by buying the property through a company that a buyer sets up and owns.