Portugal’s governing Socialist Party has rejected calls from the Bloco Esquerda (BE) – an extreme-left party with which it has a parliamentary “soft” coalition – to scrap the country’s Golden Visa Programme because “attraction of investment is very important for the country,” according to Essential Business.
Portugal’s Golden Visa is the most popular such program in Europe and has raised nearly four billion in foreign direct investment since 2012, a feat recognized by the government but not by its colleagues in the BE (Left Bloc). The BE has long criticized the scheme, claiming it is unfair toward migrants who aren’t wealthy and has the potential for bringing economic crime to Portugal.
The Left Bloc last week moved to introduce a bill in Parliament to end the Golden Visa, a bill which now appears to have been stopped in its tracks by the Socialist Party’s absence of support; The “attraction of investment is very important for the country,” said the Socialist Party’s parliamentary spokesman, MP Carlos Pereira.
You can read the full article here.