On June 20th, 2023, regarding the discussion for the “Mais Habitação” law at the Parliament, it was released the proposed changes to the final draft of the law, delivered by the different political parties. All the main parties agreed that finishing the Golden Visa Program in total would not be beneficial to the country. In different approaches, all parties presented proposals to keep the program. However, in which investment options, and in which values are not yet defined. Now the next step is the consolidation of the final draft of the law, which will then be voted in the special commission on July 19th, 2023. The document’s final version will then return to the Parliament for general approval on July 20th, 2023. The final step of the process, if approved by the Parliament, will be sending the proposed amendment to the President of the Republic. At this point, we do not know how the President of the Republic will respond to the diploma, however, we do not expect that the law enters into force before the end of August or the beginning of September. We will continue to monitor the situation as closely as possible, keeping investors and partners informed of any developments while remaining available for any clarifications needed. Also, we expect to receive the final draft of the law in the upcoming days. In any case, our advice to all our clients is to move forward as soon as possible with their investments, before any change is introduced to the program. Thank you for your attention to this matter.
