In an interview with the “Jornal de Negócios” and “Antena 1“, the president of the Pestana group, José Theotónio, declared that: “Airbnb, Local Lodging and hostels are all welcome. They represent competition but are necessary to build Portugal as a cosmopolitan and sustainable tourist destination.” This statement signals a significant turn-around in the tradition hostility voiced by the hotel industry towards peer-to-peer holiday lettings.
Investments made through “Golden Visas” increased 85% in March to €192,000,000 when compared with the same period last year. Fresh capital imported into Portugal almost doubled over the previous month according to data from the Immigration and Borders Service (“SEF”).
Coercive assessments should allow the treasury to collect 1,100 million euros throughout fiscal year 2017. To reach this goal, the “AT” (Tax and Customs Authority) is reinforcing automatisms and computer applications in order to be able to monitor more effectively the progress of processing tax debts. This represents a decrease from previous years since overdue taxes have also diminished.
More than four thousand “Golden Visas” have been issued to non-EU nationals according to “SEF” (Portuguese Immigration and Borders Service). The Chinese and Brazilians are the principal nationalities obtaining the Residence Permit for Investment Activity (“ARI”) since the creation of this immigration vehicle in 2012.