On May 19th, 2023, as already expected, the proposal regarding the end of the Golden Visa Program, which is included in the  “Mais Habitação” Bill was approved by the Parliament.

Now that the proposal was approved by the general session of the Parliament, it will be discussed by a separate commission, which will propose a final draft, the first meeting of this commission is scheduled for May 31st, 2023. The final version of the document will then come back to the Parliament for general approval. We do not anticipate that there will be any discussions on this matter in Parliament before end of July 2023.

The final step of the process, if approved by the Parliament, will be sending the proposed amendment to the President of the Republic

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.

Thank you for your attention to this matter.