Portuguese parliament widens residency scheme with ‘green visas’

Portuguese parliament widens residency scheme with ‘green visas’

LISBON, Jan 11 (Reuters) – Portugal’s parliament on Friday extended a residency program for wealthy foreigners to include investors who spend at least 500,000 euros on environmental projects.

Under the extension, foreigners will qualify for Portuguese residency if they invest at least 500,000 euros ($575,000) in organic agriculture, ecotourism, renewable energy and other environmental projects that contribute to cut carbon emissions.

The existing scheme – which allows visa-free travel through Europe’s Schengen area – offers residency for investments including property, setting up tech companies and creating jobs.

Full article: Reuters