Portugal’s finance minister Maria Luís Albuquerque hit back at suggestions that the Golden Visa scheme was in any way under threat, despite Operation Labyrinth which has uncovered a web of corruption, illegal payments, misuse of positions of trust and money laundering.
Albuquerque was asked by a Latvian MEP at the European Parliament in Brussels whether perhaps this scheme should be a temporary one and end soon due to the adverse publicity generated.
The response was that the Golden Visa programme had proved useful to the country, and Albuquerque said she did not see any reasons to close it in the short or medium term.
The finance minister admitted that the programme had "turned out to be in the news for all the wrong reasons," but pointed out that the matter is being handled by the judicial system, and as for the scheme itself, it had served "to revive parts of the housing market that were deeply depressed."
Noting that the Golden Visa programme also attracts "investments in other areas," Maria Luís Albuquerque emphasised the scheme’s importance for "the recovery of the housing market" and that "the programme for Portugal has been useful, to stimulate the market and attract capital.”
Responding specifically to a question from the upstart Latvian on whether this type of programme, used also in other member states, should be but temporary while tackling the crisis, Albuquerque said the government has no plans to end the scheme in the foreseeable future.
Albuquerque believes that the control mechanisms covering the origin of capital are "extremely strict" and that they rely on the cooperation of various entities including the police.
Operation Labyrinth led to several high profile arrests and has started to unpick a web of corruption and illegal payment to 'fast track' certain applications. The scheme has been taken advantage of by several senior civil servants and institute heads. Already one minister has resigned.
Among the 11 detained were the national director of the SEF, Manuel Jarmela Palos, the president of the Institute of Notaries, António Figueiredo, and the general secretary of the Ministry of Justice, Maria Antónia Anes.
The Minister of Internal Affairs, Miguel Macedo resigned from his post, saying that the scam was nothing to do with him at all, but that he was leaving his job as his authority had been undermined.
The Golden Visa scheme has been set up to attract rich people from outside of the European Union who could afford a property for €500,000 or more. This gives them a range of benefits including a period of zero taxation on their worldwide income.
See also:
http://www.algarvedailynews.com/property-news/956-golden-visas-offer-the-keys-to-europe
Comments
And how, all of us being in a Union - how frustrating it is to be a 'higher' in one of the 'lower' more corrupt countries. Particularly as these surveys do not cross reference to racial origin.
For example - everyone with the ability to read now knows that the Portuguese have a specific problem with the British. Which results in the total failure for any honest British to profit by being here. Either through misleading about or obstruction with relevant laws ... or rampant uncontrolled over-charging.
Bent British and those with Portuguese partners can survive. But the EU is not about restrictions to trade.
The Portuguese 'moral rationalisation' ? The Methuen Treaty, British Ultimatum ... colonial disputes. Everything that should have been let go with long ago - and certainly since joining the EU.
http://www.telegraph.co.uk/finance/financial-crime/11266664/Mapped-The-worlds-most-corrupt-officials.html
Yeah right ! And as other people have pointed out. China is having an anti-corruption drive in Macao. Portugal's old territory. So clearing out its gangsters. Quickly. Smoothly.
If particularly bad people, ironically, it is certainly possible the Chinese Government would arrange new identities ... so what control mechanisms are possible by Portugal then ?
And why would Interpol / Europol trust the Portuguese Police with 'sensitive info' if certain it would just be sold on to the gangsters concerned ?
Look at today's leaks about the McCann case. Scotland Yard coming back! Who the UK cops 'might' meet.
Who but the PJ have this information ? Does it not show clearly how amateur the PJ are to be dripping it out to their newspapers and TV ?
And why the constant Portuguese fascination with the Hong Kong democracy protest ?
The British leaving their colony with something positive and useful ... the Portuguese, never having had democracy, with gambling, corruption and sleaze !!!