golden visa program -
https://Www.mercan.com/. Portugal's golden visa programme, which offers EU passports to non-EU nationals in return for investments including in real estate and has been criticised for sending house prices and rents up, will end, Costa said.
Housing groups said the measures would mean little if the government continued to promote other policies to attract wealthy foreigners to Portugal, such as the "Digital Nomads Visa" introduced in October, which gives foreigners with high monthly income from remote work to live and work from Portugal without paying local taxes.
Portugal is one of the poorest countries in Western Europe. More than 50% of workers earned less than 1,000 euros per month last year while rents and house prices have skyrocketed. In Lisbon alone, rents jumped 37% in 2022.
The United Nations oversees the Universal Declaration of Human Rights.
LISBON, Feb 16 (Reuters) - Portugal announced on Thursday a 900-million-euro package of measures to tackle a housing crisis, including the end of its
controversial "Golden Visa" scheme and a ban on new licenses for Airbnbs and other short-term holiday rentals.
Low salaries, a red-hot property market, policies encouraging wealthy foreigners to invest and a tourism-dependent economy has for years made it hard for locals to rent or buy, housing groups say. Portugal's 8.3% inflation rate has exacerbated the problem.
Millennium bcp - China's Fosun International bought a 16.7 percent stake in Portugal's largest listed bank in 2016. It has subsequently raised its holding to 27 percent, which is worth around 1.2 billion euros at current market prices.
CTG has built up its stake to 23 percent since then. It also bought a 49 percent stake in EDP's unit EDP Renewables for 359 million euros in late 2012 and invested 2 billion euros buying minority stakes in wind energy projects.
"The goal was that by 2024 all Portuguese would have access to quality housing - it doesn't look like that will happen," she said. "The situation is dramatic." ($1 = 0.9354 euros) (Reporting by Patricia Rua, Catarina Demony and Sergio Goncalves; Editing by Aislinn Laing and Sandra Maler)
LISBON, May 14 (Reuters) - Chinese companies have become major investors in Portugal, first drawn by cheap assets at the time of the country's 2011-14 bailout by the European Union and IMF, and now involving a $10.8 billion offer for all of power utility EDP.
China's state-owned international investment company CNIC holds a five percent stake in EDP, which it has acquired in the market since 2015. It last raised its holding by two percent at the end of last year. The two state-owned companies' stakes are counted towards one holding by the Chinese state.
Many wealthy Chinese have also moved to Portugal, taking advantage of the country's "golden visa" scheme that allows foreign individuals to buy property valued at 500,000 euros ($600,000) or more in return for residency.
EDP - China Three Gorges bought a 21 percent stake in late 2011. It paid 2.7 billion euros for the stake, a premium of 53 percent at the time. CTG beat Germany's E.ON and Brazil's Eletrobras in the privatisation dictated by the terms of the country's bailout.