By Essential Business Posted 7 Julho, 2023 In Bankruptcy and liquidation, News The number of companies that declared insolvency increased 14% in the first half of the year with a total of 384 bankrupt companies, 85 more than in the same period in 2022. For the period, mandatory applications for bankruptcy increased 14% on H1 2022 while … Read more
By Essential Business Posted 10 Julho, 2023 In Local Accommodation, More Housing Package, News The suspension of new Local Accommodation licenses in all areas of Portugal except the interior regions and islands has been passed by the Portuguese parliament. The original proposal presented by the Government and the proposal from the ruling PS party to change some of the … Read more
By Essential Business Posted 23 Junho, 2023 In Development, Investment, News, Real Estate The Portuguese Government’s ‘More Housing’ package, which seeks to help alleviate the chronic affordable housing shortage suffered in Portugal’s main two cities of Lisbon and Porto, did more harm than good and “paralysed the real estate development and investment sector in Portugal” according to a sector association … Read more
By Essential Business Posted 23 Junho, 2023 In Golden Visa, Investment, News Portugal’s government has decided to retain the Golden Visa programme for investors in venture capital funds. It means that while direct investment in real estate is now no longer eligible in return for a Golden Visa, the regime will be kept on for … Read more
By Essential Business Posted 23 Junho, 2023 In Economy, House prices, Housing, IMF, News The International Monetary Fund has advised Portugal that financial policies should continue to concentrate on systemic risks which it says have increased because of more restrictive financial conditions and increased vulnerabilities in the real estate market. The IMF restated its forecast of 2.6% for Portugal’s GDP for … Read more
By Essential Business Posted 15 Maio, 2023 In Business, Investment, News Despite economic indicators for the last quarter of 2022 and the first quarter of 2023 reporting a fall in investment, Portugal’s large companies are more optimistic about the rest of 2023 than they were in October. This is according to the latest indicators on he business and … Read more
By Essential Business Posted 15 Maio, 2023 In Consultancy, Hospitality, Hotel, News In the first four months of the year investment in tourism assets stood at €20 million. Despite the year getting off to a slow start, consultants insist that overseas investors have the appetite to invest and that the end of the Golden Visa programme will not put pay … Read more
More than 30% of Portugal’s commercial real estate is in the hands of investment funds and “concrete assets” are the main investments. The conclusion has been drawn by the European Central Bank (ECB) which points to the need for greater regulation on the sector as these financial asset instruments have mushroomed in the Euro Zone … Read more
The Portuguese Association of Real Estate Developers and Investors (APPII) says that the Government’s decision to end Golden Visas is not legally valid and will likely cause a wave of lawsuits. The APPII points to around 10,000 Golden Visas that are up for renewal with holders likely to take the Government to court over its … Read more
Portugal’s Golden Visa will now only be granted to overseas entrepreneurs who invest by setting up a business in the country. It will be the only exception after the Government announced in February that it would end the Authorisation for Residency by Investment programme (ARI) after mounting pressure from the European Parliament and the discovery … Read more