We would like to inform you that today the President of the Republic has vetoed the project “Mais Habitação” law.

The next step in this process is the return of the “Mais Habitação” law to the Parliament where it can be i) changed by the Parliament and sent again to the President or ii) confirmed by the majority of the deputies at the Parliament and in this case the President will need to accept it.

In any case, it is unreasonable to expect that any decision is made by the Parliament before the end of September 2023, since at the moment the Parliament is closed for the summer break.

Our advice to all our clients is to move forward as soon as possible with their investments. The current timelines will allow investors to start and submit their process before the potential end of the Golden Visa program.

In this sense, it is essential that we make our investors aware that the current average time to conclude the investment, with IAS, is around one week, which – under current timing, provides enough time to invest still and be part of the Portuguese investment program.

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.