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On December 8th, 2022, the House of Representatives passed legislation to increase trade and investments between the United States and Portugal as part of a bill for Fiscal Year 2023.
Part of the Advancing Mutual Interest and Growing Our Success (AMIGOS) Act, this legislation would make Portuguese nationals eligible for both E-1 trade and E-2 investor temporary and renewable visas, allowing them to live and work in the United States for up to five years.[1]
Investments and job creation in the United States are just two positive effects that make this legislation important to strengthening relationships between the United States and Portugal.
The approval of E-2 visas would also positively imprint upon the Portuguese corporate economy and exports. The Golden Visa, a residence program which opens Portugal for immigrants through investments in a variety of sectors that include real estate as well as stocks, shares, and public debts would also gain value.[2]
Strongly supported in the United States Senate, more than one United States Senator has openly declared how the Portuguese community has made a significant and lasting impact in the areas of art, culture, and the public sector - therefore solidifying the importance of the decision to reinforce the ties between the two nations.[1]
It is important to note that trade with Portugal increased by six percent from 2018 to 2019, further proving the bilateral benefits of such legislation. [1]
Today, approximately 20 percent of Portuguese nationals live outside of the country. That amounts to one in five citizens choosing to invest, live, and work elsewhere. Up to now, many of them have chosen to live in Europe, where Portuguese immigration rose close to ten percent between 1990 and 2015. [3] Now they can do this in the United States through the E-1 and E-2 visas.
If you are a citizen of Portugal and are looking into immigrating to the USA, call us today to learn how Visa Business Plans can help.
Visa Business Plans is led by Marco Scanu, a certified coach from the University of Miami with a globally-based practice coaching Fortune 1000 company executives, entrepreneurs, as well as professionals in 4 different continents. Mr. Scanu advises clients on turnaround strategies and crisis management.
Mr. Scanu received a bachelor’s degree in Business Administration (Cum Laude) from the University of Florida and an MBA in Management from Bocconi University in Milan, Italy. Mr. Scanu was also a Visiting Scholar at Michigan State University under the prestigious H. Humphrey Fellowship (Fulbright program) with a focus on Entrepreneurship, Venture Capital, and high-growth enterprises.
At present, Mr. Scanu is the managing partner and CEO at Visa Business Plans, a Miami-based boutique consulting firm providing attorneys and investors with business planning services in the areas of U.S. and Canadian immigration, SBA loans, and others.
[2]
https://www.uglobal.com/en/immigration/portugal/frequently-asked-questions/
[3]
https://algarvedailynews.com/news/11125-portugal-has-the-second-highest-rate-of-emigration-in-the-eu
