ATHENS- On October 23, 2023, during the grand Opening Ceremony of the Wyndham Azure Waves Beach Resort, an exciting collaboration took place. OIKOS Property Developments and Globevisa Group joined forces and signed a remarkable long-term global exclusive agreement. This agreement signifies a significant milestone in the distribution of the project in numerous investors globally. Lynette Ju the General Manager of Globevisa Greece office, George Kyriakou and Dimitris Shiouftas the CEO and CFO of Oikos attended the event as representatives.
Earlier in October, the United States Citizenship and Immigration Services (USCIS) issued new guidance indicating that maintaining an investment for a minimum of two years is now deemed sufficient. This directive supersedes the established practice of adhering to a consistent investment cycle lasting a minimum of five years, with the possibility of one-to-two-year extensions.
On August 21st, Portuguese President Marcelo Rebelo de Sousa vetoed the Mais Habitação proposal. Despite the proposal having been approved by the Portuguese Parliament on July 19th, the reason for this veto was that the President considering that it “confirms” the “risks” of “unrealism in the projected results”. Marcelo detailed eight risks and criticisms of the proposal in the letter on the government website, without mentioning the Golden Residence Visa. Ultimately, the President requested further deliberation and voting by the Parliament.
Today, we are honored to invite attorney Catherine Dulude, in collaboration with Globevisa, to present a detailed explanation of the current policies enforced by Immigration, Refugees and Citizenship Canada (IRCC) regarding the SUV program.
On July 19th, the Portuguese Parliament held a final vote on the “Mais Habitação” law and approved the proposal. This vote signifies the government’s determination to make adjustments to the Golden Visa program, and as a result, the era of Portuguese real estate investment immigration is coming to an end. As an RCBI company with global reach, Globevisa has launched a refund policy to guarantee the interests of our clients while addressing this radical change in the Portuguese Golden Visa.
These significant changes in the landscape of European immigration make the world wonder: how much longer can those citizenship or residency-by-investment programs continue? Is it the last chance for prudent investors? What will happen to applicants in the progress of application.