Madeira to push Golden Visas

More focus on Canadian market

Golden Visa

Funchal Noticias report that Regional President Miguel Albuquerque is interested in attracting foreign capital to Madeira through the so-called Golden Visas. “We are working with Golden Visas”, he told journalists on the sidelines of the beginning of the Flower Festival procession yesterday, noting that they “are a major factor in real estate growth”. “It must not be forgotten that last year real estate had a volume of transactions of €620 million, the largest in Madeira. And the trend is to grow this year.”

Alongside Golden Visas, Miguel Albuquerque was also interested in attracting the Canadian market, especially via Toronto, following the efforts made with the American market. “Canada has a very long ‘Winter,” he said and has a significant Portuguese and Madeiran diaspora. “Usually, Canadians go to the Caribbean a lot, but the distance is shorter to Madeira”, he declared.

The president also realized that there is great potential on the part of Canada not only in tourism but in the “technological” sector: “In the last month and
a half, we have had a great influx of technology professionals, who have been buying houses and found here in Madeira an ecosystem favourable to the development and establishment of its companies.

COVID-19 in Madeira: updates can be found in an earlier post

13 thoughts on “Madeira to push Golden Visas”

  1. the EU is full of contradiction, but more important is what this does to property markets and long term the owners will be faced with payback time (all of us) its already happening in UK with doubling of council tax and other targeted financial disincentives, so time will tell,

  2. “Usually, Canadians go to the Caribbean a lot, but the distance is shorter to Madeira”, says Mr. Albuquerque.
    As a Canadian, I can say that he has been misinformed. The vast majority go to South Florida in the winter which is a 3 hour, non-stop flight from Toronto. Caribbean cruises are also very popular and they sail out of south Florida too.
    However a flight from Toronto to Madeira is anywhere from 10 to 20 hours, including at least an hour waiting for a connecting flight. The average flight time is 14 hours. Big difference!!

    • As a Canadian who is planning to move to Madeira permanently I for one would NOT go to Florida unless I want to experience gun and drug culture first hand. The weather from early April to late October in Florida is unbearably hot. I believe that the President is wise to promote Madeira as a safe permanent destination for Canadian citizens. I have flown about a dozen times to Madeira from Toronto and the flight time has never been more than 12 hours.

  3. Madeira is on the way of becomning a subsidiary of the international money laundring community. For the sake of getting more money money money fast. When you will be ready to regret that mistake, it will be too late.

    • The Netherlands has a Golden Visa Program since 2013. One of the richest countries in EU and all it takes is a 1 million “investment” to apply for a permit. Now that Netherlands has benefit from a few hundreds of millions of euros from Golden Visas, you think that should come to end and small and poorer countries should not take advantage of it. Extreme hypocrisy comes to mind.

  4. Soon Madeira will be overcrowded with rif raf – the rich rif raf with their golden visas, and the poor rifraf with Ryanair.
    I’m so glad I often visited Madeira in the past 45 years – nice memories, but all things must pass.


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