In a significant move, the European Parliament has approved new regulations aimed at simplifying legal migration within the European Union (EU). The legislation proposal was approved setting strict deadlines for processing applications for residence permits, reducing the waiting period to a maximum of 90 days. This streamlined approach promises to force EU countries to expedite decision-making and minimize bureaucratic delays for migrants.

Crucially, the approved measures also grant greater mobility rights to holders of resident permits, allowing them to change employers, professions, and sectors of employment with ease. This provision is expected to enhance job opportunities and career flexibility for migrants, aligning with the evolving needs of the EU labor market.

Furthermore, the legislation addresses concerns surrounding unemployment among permit holders by providing 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 demonstrates the EU's commitment to supporting migrants during transitional phases and mitigating social exclusion risks.

This decision also carries significant implications for investors participating in the Golden Visa program, particularly in Portugal where the backlogs on the immigration process are experiencing a severe backlog.

In summary, the European Parliament's approval of streamlined migration rules marks a pivotal step towards creating a more efficient and inclusive migration framework within the EU. By prioritizing faster decisions, extending mobility rights, and addressing unemployment concerns, the legislation aims to foster a conducive environment for legal migrants to thrive while safeguarding their rights and interests. As EU countries implement these reforms, the EU is set to usher in a new era of migration governance characterized by efficiency and transparency.