The rate at which Golden Visa applications are being processed, approved or rejected is back up to its pre-Operation Labyrinth level with 1,600 going through thus far this year, if figures from the minister in charge are to be believed.
Non-EU citizens buying property for €500,000 or more can apply for the attractive Golden Visa package which offers unrestricted Schengen Area travel and zero tax on income earned outside Portugal.
Previously, the Foreigners and Borders Service (SEF) reported 209 Golden Visas had been issued in January and February so the total announced for March and three weeks of April indeed is impressive.
The oft' numerically challenged Foreign Minister, Augustos Santos Silva, reported to parliament that that his latest figures were for the period to April 22nd and the processing work run by the Foreign and Borders Service was running as it did in the heady days of 2014 before the scheme was exposed as a nest of corruption resulting in 12 arrests and the resignation of the minister nominally in charge.
Augustos Santos Silva announced also that the processing teams have a new manual that lists many additional procedures and controls that were hastily put in place after those running the scheme were unable to stop themselves taking full advantage of the slack rules and operational procedures.
This is the new manual of rules that the SEF has been using as an excuse to take as long as humanly possible to process Golden Visas, leading many foreigners waiting well over a year before hearing whether or not their applications have been approved.
One of the reasons for the surprising jump in approved Golden Visa approvals is the approval of family members which can be a speedier process.
