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Tag: Portugal Golden Visa

  • Portugal Golden Visa: Residency Period Start Clarification

    We are excited to bring to your attention a significant update regarding the submission date for residency applications. This development carries substantial implications for those aiming to apply for Portuguese citizenship after fulfilling the required residency period.

    We have received verbal confirmation from the immigration services in Porto, along with an official email confirmation from the Agência para a Imigração e Mobilidade da Administração (AIMA), specifically from the Unidade de Apoio às Autorizações de Residência para Investimento (UARI), the department responsible for processing Golden Visa residencies. Both sources have confirmed that the submission date for residency applications will be recognized as the date the application is submitted online.

    This clarification is crucial as it establishes the starting point of the five-year residency period necessary for citizenship eligibility. According to the updated guidelines, the date you submit your application online will be counted as the official start of your residency period.

    While this update simplifies the process and provides a clear benchmark for applicants to understand when their residency period officially begins, it is essential to note that the regulation concerning this clarification has yet to be published, even though the deadline for publication has already passed. We are closely monitoring this situation and will continue to provide updates as new information becomes available.

    At Mercan Group, we are dedicated to providing continuous support and timely updates about this.

  • Golden Visa 2024: where to get the best one

    For those with enough money, purchasing residency in another country becomes possible. Several countries offer “golden visas,” and some even provide full citizenship through “golden passports.” The cost varies significantly; some visas cater exclusively to the wealthy, while others come at more affordable rates.

    What’s a golden visa?

    Often called a “residence by investment program,” a golden visa allows individuals to obtain temporary or permanent residency in a country, enabling them to live and work there. In some cases, buyers don’t even need to reside full-time in the country, making these visas a practical backup plan for those who want the option of traveling to these places without the intention of permanent relocation.

    Are golden visas new? Why are they popular?

    Some programs have existed for decades, providing a way for governments to raise funds and encourage foreign investment. For example, during the European debt crisis, golden visas gained popularity as several countries began selling residency to attract foreign money and address budget deficits. Countries like Portugal, Ireland, Greece, and Hungary adopted these programs after receiving bailouts from the European Union and International Monetary Fund.

    For instance, Portugal started offering golden visas in 2012 to non-EU nationals willing to invest at least €500,000 ($537,000) in property, a fund, or a company that creates jobs. Later, they reduced the property investment requirement to €350,000. In 2013, Greece, Spain, and Hungary launched their own golden visa programs, offering residence permits in exchange for real estate investments. These programs also grant the right to travel freely across many EU countries.

    How hard is it to get a golden visa now?

    While in Portugal, purchasing residential real estate no longer qualifies for a golden visa, some options remain. Investors can still qualify by investing in a qualified investment fund worth at least €500,000, participating in scientific research activities, or investing in the share capital of a company that creates five jobs or maintains ten jobs.

    Additionally, in March, Greece announced plans to increase the minimum investment amount for foreign property buyers to secure a golden visa to €400,000, thus remaining an option for those who can meet the higher threshold.

    Meanwhile, the cost of obtaining citizenship-by-investment is rising in the Caribbean, where such programs constitute more than half the national revenue for some small island nations. Some Caribbean passports allow visa-free travel to the UK and EU through bilateral agreements, which raises concerns among European regulators that these schemes might serve as a gateway for criminals. Consequently, European governments are pressuring Caribbean nations to restrict these programs.

  • Mercan Group Shines at Spear’s 500 Event

    Mercan Group joins the prestigious Spear’s 500, an event that has become a must-attend for the ultra-high-net-worth (UHNW) community.
     
    Spear’s is a multi-award-winning global wealth, business, and culture media brand, known for its insightful magazine that caters to UHNW individuals. Spear’s 500 events, particularly the one held in London, attract high-net-worth individuals and industry leaders from around the world to explore elite investment opportunities. These events are celebrated for their exclusive atmosphere, unparalleled networking opportunities, and deep insights into the latest trends in wealth management and investment.
     
    At this year’s Spear’s 500 event in London, Mercan Group participated as a key player, further enhancing the event’s prestige. The event brought together HNW individuals and industry leaders to discuss top-tier investment opportunities, focusing on the latest trends in global wealth management.
     
    Mercan Group used this platform to reaffirm its status as a leader in global investment and development within Portugal’s hospitality sector through its investment funds. The event featured stops in key financial hubs, offering in-depth insights into their investment and management practices. Financial advisers and service providers from various interrelated fields gathered, providing private client professionals with a comprehensive overview of current focus areas for UHNWIs.
     
    Panel discussions at the event were particularly insightful, addressing the main concerns and interests of UHNWIs. Since its launch in 2006, Spear’s has established itself as Europe’s leading authority on wealth management and a respected voice on arts, business, and lifestyle. By using events, awards, and research-based products and services, Spear’s connects financial and luxury brands with an exclusive audience. Mercan Group’s participation in this event underscores its influence and commitment to leading the investment and hospitality sectors in Portugal.

  • Mercan Group: Spearheading Global Investment Roadshows

    Being a trailblazer in the investment landscape, Mercan Group has consistently demonstrated its commitment to international collaboration and strengthening its leadership position.

    In a remarkable demonstration of global synergy and the establishment of robust connections worldwide, Mercan Group continues to showcase its leadership and dedication to the investment and hospitality sectors through active participation in prominent international roadshow events. This includes this year’s REX Conference in Mumbai, InvestPro Azerbaijan in Baku, and the Bosco Conference in Istanbul.

    Catarina SImão, Sales & Business Development, at InvestPro Turkiye Istanbul 2024 
    Kristina Lapshina – Business Development Manager & Kateryna Ilechko – Lawyer at InvestPro Azerbaijan 2024
    Teresa Archer – Sales & Business Development Manager and Diana Ribeiro – Lawyer at IREX Conference Mumbai 2024

    These events serve as ideal platforms for showcasing Mercan Group’s robust investment strategies and reaffirming its status as a leader in global investment trends. They also highlight Portugal as a premier destination for investment and lifestyle. By engaging with global markets at these conferences, Mercan Group further expands its influence and operational reach, particularly in Portugal, where it is acknowledged as a center of innovation and expertise in the investment realm.

    These appearances not only emphasize Mercan Group’s dedication to international partnerships but also underscore its role in promoting economic and investment opportunities in Portugal and beyond.

  • Congratulations to the Renaissance Porto Lapa Hotel on its first anniversary!

    April marked several anniversaries for Mercan Portugal, and today we commemorate the inaugural year of operations at the Renaissance Porto Lapa Hotel.

    Situated in the heart of Porto, the Renaissance Porto Lapa Hotel stands as a beacon of sustainability and innovative design, marking its first anniversary. As a proud addition to Mercan Portugal’s portfolio, this project has revitalized a previously neglected area into a remarkable hotel, paving the way for the city’s inaugural green park in the city center.

    This milestone underscores our commitment to blending upscale hospitality with environmental stewardship. However, the Renaissance Porto Lapa surpasses mere standards. It serves as a hallmark of contemporary design and opulent living, enriching the guest experience in Porto’s vibrant Lapa neighborhood, while also setting new benchmarks for eco-conscious urban living. The forthcoming green park adjacent to the hotel will further contribute to biodiversity, enhancing the city’s allure and ambiance.

    As we celebrate this milestone, we reaffirm our dedication to nurturing Porto’s hospitality sector and economic prosperity, and our unwavering commitment to sustainable, eco-friendly tourism, ensuring a future where both flourish harmoniously.

    We express our sincere gratitude to our esteemed guests, dedicated team members, and the Porto community for embracing the Renaissance Porto Lapa Hotel with open arms!

  • Portugal Golden Visa 2024: Promising Prospects for Foreign Investment and Residency Initiatives

    Mercan Group is delighted to announce compelling news regarding the political landscape in Portugal. Following recent elections, a new right-wing government has taken office, heralding a promising shift in policy direction, particularly concerning foreign investment initiatives such as the Golden Visa and Non-Habitual Resident (NHR) programs.

    The newly elected government has publicly endorsed both the Gold Visa and Non-Habitual Resident programs, diverging from the decisions of its predecessor during the amendment process. This proactive stance has generated anticipation in the market, anticipating a resurgence in these crucial investment initiatives under a PSD-led government with backing from a right-leaning parliament.

    Pedro Fontinho, Executive Director of the Portuguese Residential Tourism Association (APR), has voiced optimism regarding fresh measures aimed at attracting foreign investment. Similarly, Hugo Santos Ferreira, President of the Portuguese Association of Real Estate Developers and Investors (APII), underscored the importance of revitalizing the Gold Visa and NHR regimes, highlighting their pivotal role in stimulating the Portuguese economy by drawing capital and skilled individuals.

    At Mercan, we are enthusiastic about these developments and their potential to enrich Portugal’s investment landscape. We are dedicated to keeping you informed and supported throughout this transition. We view these changes as positive strides forward and eagerly anticipate exploring the new opportunities they will present to our investors and partners.

  • EU Parliament Approves Migration Procedure Time Reduction Law

    A momentous development has unfolded as the European Parliament greenlights fresh regulations designed to simplify legal migration within the European Union (EU). These regulations entail strict timelines for processing residence permit applications, slashing waiting periods to a maximum of 90 days. Such a streamlined approach is poised to compel EU member states to accelerate decision-making processes, curtailing bureaucratic bottlenecks for migrants.

    Of notable significance, the ratified measures confer enhanced mobility rights upon resident permit holders, facilitating seamless transitions between employers, professions, and sectors. This pivotal provision is anticipated to broaden job prospects and offer migrants greater career flexibility, aligning harmoniously with the dynamic demands of the EU labor landscape.

    Moreover, the legislation tackles concerns surrounding unemployment among permit holders by affording a grace period of up to three months (or six months for long-term permit holders) to secure alternative employment before facing permit revocation. This underscores the EU’s unwavering commitment to supporting migrants during transitional phases and mitigating the risks of social exclusion.

    This decision holds substantial ramifications, particularly for investors engaged in the Golden Visa program, notably in Portugal, where immigration processes have been plagued by severe backlogs.

    In essence, the European Parliament’s endorsement of streamlined migration regulations heralds a landmark stride towards forging a more efficient and inclusive migration framework within the EU. By prioritizing expedited decisions, expanding mobility rights, and addressing unemployment apprehensions, the legislation endeavors to cultivate an enabling environment for legal migrants to thrive while safeguarding their rights and interests. As EU member states commence the implementation of these reforms, the EU stands poised to inaugurate a new epoch of migration governance characterized by efficiency and transparency.

  • The design of the Renaissance Porto Lapa Hotel has received international recognition

    In 2023, the Renaissance Porto Lapa Hotel made its debut as the premier luxury business hotel in the country, a distinction that has now been recognized at the World Travel Awards during this year’s ceremony in Berlin, Germany. This accolade underscores Porto’s rising prominence in the hospitality and tourism sector, an industry that the region views as strategically vital for its future.

    Located at the heart of Porto on Rua de Cervantes, the Renaissance Porto Lapa Hotel began welcoming guests in 2023, representing a significant addition to the Mercan Group Portugal’s portfolio. Beyond its prime location, the project is distinguished by its commitment to sustainable development, contributing to the rejuvenation of approximately two hectares of Porto’s urban landscape.

    The Renaissance Porto Lapa Hotel seamlessly blends innovative aesthetics with operational excellence, aiming to foster a cosmopolitan lifestyle amidst a verdant urban sanctuary accessible to all city dwellers. This architectural approach not only enhances the urban landscape but also serves as a model of sustainable development and design principles.

    Furthermore, the hotel’s design has garnered international acclaim, earning the Silver trophy at the 2023 International Design Awards (IDA) in the Building Of The Year / Hospitality category. This recognition underscores the innovative approach taken by Visioarq and its significant contribution to the hospitality and architectural realms.

    Emphasizing the enhancement of the urban environment, the architectural concept of the Renaissance Porto Lapa Hotel inspires with its blend of simplicity and elegance. It marks a significant milestone in the revitalization of a key area in Porto, reflecting a broader commitment to urban renewal and sustainable development.

  • Internationally Recognized: Renaissance Porto Lapa Hotel Stands Out for Easter Break

    Discover Porto and its timeless allure, with the Renaissance Porto Lapa Hotel as your exquisite sanctuary. Perched gracefully atop the scenic Lapa hill, this Mercan Group gem offers 163 opulent rooms and suites, each enveloping guests in luxury and comfort, while providing sweeping vistas of the city below.

    Selecting the perfect destination for Easter can be a daunting task, especially with the anticipation of numerous new hotel openings. However, according to Harper’s Bazaar Spain, the Renaissance Porto Lapa Hotel in Porto emerges as a standout choice, epitomizing sophistication and indulgence.

    Indulge your palate at the Renaissance Porto Lapa Hotel’s array of culinary offerings, featuring a gastronomic restaurant adorned with cocktails and live music, as well as the enchanting rooftop Sky Bar boasting panoramic city views. This hotel not only promises lavish accommodations but also delivers an unparalleled dining experience, ensuring an Easter retreat like no other.

    Highlighted among the premier destinations for Easter 2024 by Harper’s Bazaar Spain, the Renaissance Porto Lapa Hotel garners praise for its exceptional service, prime location, and enticing dining venues. Whether you’re seeking a brief respite or an extended sojourn, this hotel guarantees an unforgettable Easter escape in the heart of Porto.

  • Renaissance Porto Lapa Hotel and Sé Catedral Hotel Porto triumph at “Oscars of Tourism”

    The Mercan Group‘s hotels in Portugal, managed by AHM, have been honored in the prestigious World Travel Awards 2024.

    These awards, often dubbed as the “Oscars of tourism,” recently unveiled their winners for the year, recognizing two of Porto’s newest additions: the Renaissance Porto Lapa Hotel as “Portugal’s Leading Business Hotel 2024” and the Sé Catedral Hotel Porto as “Portugal’s Leading Design Hotel 2024.”

    Owned by Mercan Properties and the Mercan Group in Portugal, and overseen by AHM – Ace Hospitality Management, these two establishments were celebrated at a ceremony held yesterday in Berlin, attended by their respective general managers.

    Paulo Pereira, director of the Renaissance Porto Lapa, expressed pride in receiving this recognition less than a year after the hotel’s opening. He sees it as a testament to the dedication of the entire team in establishing the Renaissance Porto Lapa as a premier hotel in the city and the country, offering a blend of 5-star service and authentic experiences.

    Bruno Miranda, director of the Sé Catedral Hotel Porto, views this achievement as validation for the hotel’s distinctive concept, designed to captivate and inspire guests. He believes that the hotel’s philosophy transcends mere decoration, embodying a relaxed, vibrant, and creative atmosphere reflective of Porto itself.

    The Renaissance Porto Lapa, part of the global Marriott Bonvoy portfolio, stands as the only property under this brand in Portugal. Situated in Porto’s historic Lapa neighborhood, the hotel offers 163 elegant rooms and suites, a restaurant, two signature bars, and 544 m2 of flexible event space equipped with state-of-the-art conference technologies.

    Meanwhile, the Sé Catedral Hotel Porto, Tapestry Collection by Hilton, marks the debut of the Tapestry Collection by Hilton brand in Portugal. Positioned in front of the iconic Sé Catedral, the 4-star hotel features 77 uniquely designed rooms, each inspired by diverse global influences, along with a restaurant and bar.

    Established in 1993, the World Travel Awards aim to recognize excellence in the global tourism industry, fostering competitiveness and promoting quality across the sector.