According to SchengenVisaInfo.com, the announcement of the end of the Golden Visa has caused this community of ex-pats to have concerns about future border lockdowns and remote workers seeking other places to move.
Portugal’s decision to terminate its Golden Visa programme, which allowed investors to obtain residency in exchange for investments in the country, has sparked concerns among digital nomads who chose Portugal as their destination.
The end of the programme has prompted some to consider other countries offering similar schemes, such as Dubai, Turkey, Singapore, Germany, and Hong Kong. Digital nomads are attracted to programmes like the Golden Visa and Digital Nomad Visa because they offer freedom and a simpler way of life, but cancelling such programmes may push them to consider moving to other destinations.
The Portuguese government had previously expressed its desire to attract digital nomads to the country, but the cancellation of the Golden Visa programme may deter them from doing so.
The programme had granted 11,189 visas in the past ten years, attracting €5.87 billion in real estate investment and benefiting 18,368 family members.
The Chinese were the largest group of beneficiaries, followed by Brazilians, South Africans, Turks, and Americans.