Foreign investors are outraged by the new Portuguese citizenship law, according to which the waiting period for a naturalization passport has doubled.
More than 500 people who have received the Portuguese "golden visa" (ARI investment visa) are preparing a class action lawsuit against the Portuguese government. The reason a new law recently signed by President Antonio Jose Segur.
According to the Expresso newspaper, there are especially many dissatisfied among US citizens, but in general, people of different nationalities are represented. All these investors communicate in groups via messengers and plan to register an official association in the near future. They are represented by several law firms. For now, lawyers advise clients not to rush and wait for the final by-laws.
What has changed in the law on citizenship
Previously, a foreigner could apply for Portuguese citizenship after 5 years of legal residence in the country. Now this period has doubled to 10 years.
For citizens of Portuguese-speaking countries (for example, Brazil, Angola, Mozambique) and EU countries, the term has increased from 5 to 7 years. Due to such changes, many investors, according to Expresso, generally abandon attempts to obtain a Portuguese residence permit.Source: Portugal Resident
