Portugal is joining other countries in scrapping its residency-by-investment program, which has been a draw for wealthy foreigners.
Source: Best Golden Visa in Europe: Portugal, Ireland Cut Foreign Investment Programs – Bloomberg
Some countries still have investment visas and there are some who think Portugal will eventually create a new program, with different rules.
As I have written about previously, some people have immigration privilege and some of us have none. Up to half of Americans may have residency or citizenship rights in other countries via “right of descent” and the wealthy could obtain residency via investment.
The rest of us have no such privileges. Hence, there are many with immigration privilege – and many of us without.
Update: Spain is also ending its “Golden Passport” program. Malta is said to be the last EU country with a Golden Passport investment visa program.