Portugal's Left Bloc leader, Catarina Martins, has called for an end to the Golden Visa scheme which “serves to launder money from corruption.”
Martins added that the scheme to attract non-EU foreigners to buy property in Portugal provokes real estate speculation.
"Mechanisms such as Gold Visas, we have always said, have provoked real estate speculation and are also serve to launder money from corruption, as we now know from the news," said Martins after a joint investigation by Expresso and The Guardian denounced several foreign businessmen involved in corruption cases, such as the Brazilians Otávio Azevedo and Pedro Novis, who had obtained a residence permit in Portugal through the golden Visa scheme.
"The Bloc argues that there should be no Gold Visas. We have been very consistent with our view for a long time," stated Martins.
Gold Visas, explained the BE leader, "are residence permits that are given to citizens who are millionaires from other countries and who do not have to explain where the money comes from."
"It was created by the PSD/CDS coalition government and it has continued and now we see that our country is associated with corruption cases - namely in Angola and Brazil – where those concerned have come to our country to launder money," she criticised.
Catarina Martins said the European Commission has started to analyse the Golden Visa scheme in Portugal, processes that have "raised house prices in historic centres."
"A country that takes itself seriously must deal with housing issues in a very sensible way," said the Left Bloc leader.
The Golden Visa process anyway is in a mess as it is not possible to schedule appointments with the Foreigners and Borders Service to submit a visa application or to renew one.
The enduring complaint comes from the president of the Association of Realtors and Real Estate Companies, Luís Lima who says that two years after the rules were tightened, “the programme has no capacity to respond.”
