{"id":22682,"date":"2019-04-01T15:44:48","date_gmt":"2019-04-01T13:44:48","guid":{"rendered":"https:\/\/ecobnb.com\/blog\/?p=22682"},"modified":"2020-05-22T14:41:52","modified_gmt":"2020-05-22T12:41:52","slug":"portugals-green-choice-citizenship-for-who-invests-in-environmental-sustainability","status":"publish","type":"post","link":"https:\/\/ecobnb.com\/blog\/2019\/04\/portugals-green-choice-citizenship-for-who-invests-in-environmental-sustainability\/","title":{"rendered":"Portugal\u2019s green choice: citizenship for who invests in environmental sustainability"},"content":{"rendered":"

Portugal is becoming increasingly focused on environmental sustainability<\/strong>. A new confirm of the\u00a0green direction that the country has taken comes from the recent approval by the Parliament of a\u00a0programme for the granting of the national citizenship for who invests in environmentally\u00a0sustainable projects.\u00a0The passing of this law, whose draft has been submitted to the Parliament last January by the\u00a0environmentalist party PAN (\u201cPessoas, Animais, Natureza\u201d), provides for the granting of the\u00a0residence permit and of the Portuguese – and therefore also European – citizenship for foreign\u00a0investors intending to finance sustainable projects. The minimum investment needed to obtain the\u00a0so-called Green Visa<\/strong><\/em> and the Portuguese citizenship amounts to EUR 500 thousand in five years<\/strong>. The\u00a0sectors concerned by this law are those of the organic agriculture<\/strong> and the renewable sources of\u00a0energy<\/strong>.<\/p>\n

Green Visa: Citizenship for who invests in Sustainability<\/h2>\n

The approval of the law about Green Visa<\/strong> is part of a path that has made Portugal a leading country\u00a0in the use of renewable energy sources and in the green economy<\/strong>. Indeed, in March 2018, the\u00a0country reported a major record: it succeeded in covering its total electricity consumption with\u00a0renewable energy sources, for a total of 4,812 Gigawatt hours.<\/p>\n

\"A
A wind park in Portugal, ph. via unsplash<\/div><\/div>\n

The project has not been without critics<\/strong>. Indeed, the country has already experienced a similar\u00a0initiative aimed to attract foreign investors, with the so-called Golden Visa<\/em>. The Golden Visa provides\u00a0for the granting of the Portuguese citizenship for foreigners making investments of EUR 350 \u2013 500\u00a0thousand in real estate. The project has promoted the development of tourism and hotel sectors,\u00a0but has also provoked a great deal of criticism, in particular from the left-wing party \u201cBloco de\u00a0Esquerda\u201d, which accused the system of Golden Visas of being a way \u201cto sell the citizenship\u201d and\u00a0\u201ccitizens\u2019 rights\u201d. Moreover, the NGO \u201cTransparency International\u201d and \u201cGlobal Witness\u201d have\u00a0charged these instruments with encouraging corruption and money-laundering.<\/p>\n

In connection with the approval of the Green Visa, the proposal for the abolition of Golden Visa has\u00a0been put forward as well, because they are widely considered as damaging and little useful for the\u00a0creation of new jobs.\u00a0The positive repercussions of Green Visa have stimulated the intervention of the European Union<\/strong>,\u00a0which is working for drawing up a document that guides countries in the procedures for granting
\nthese types of visa. The aim is to prevent that potentially positive initiatives such as Green Visa\u00a0attract illicit capital, without bringing the expected benefits.<\/p>\n

\"Vineyards
Vineyards in the region of Alto Douro: Portuguese wine-growing is at the forefront in the use of organic and\u00a0environmentally sustainable technologies. Ph. by Redcharlie via unsplash<\/div><\/div>\n

Green Visa can have a great impact in the transition process to an increasingly sustainable economy<\/strong>,\u00a0not only for Portugal but for the European Union as a whole. Therefore, given its importance, a\u00a0careful analysis is needed, in particular at Community level, in order to ensure the proper\u00a0implementation of the programme.<\/p>\n

We have not heard the last of Green Visa, and a debate is set to rise in the near future. Let\u2019s start\u00a0from here: what is your opinion on this matter?<\/p>\n

Author by Stefano Vagni<\/em><\/p>\n

Cover image: ph. by Mikita Karasio, via unsplash<\/em><\/p>\n

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Portugal is becoming increasingly focused on environmental sustainability. A new confirm of the\u00a0green direction that the country has taken comes from the recent approval by the Parliament of a\u00a0programme for the granting of the national citizenship for who invests in environmentally\u00a0sustainable projects.\u00a0The passing of this law, whose draft has been submitted to the Parliament last […]<\/p>\n","protected":false},"author":42,"featured_media":22684,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[187,2055,1685,602],"acf":[],"yoast_head":"\nGreen Visa: Citizenship for who invests in Sustainability<\/title>\n<meta name=\"description\" content=\"With Green Visa, Portugal opens the door for green investments: citizenship for who invests in organic agriculture and renewable energy.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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