Following the State Council that took place yesterday, with the attendance of the President of the Republic and the Prime Ministry, we were informed that the Government has scheduled, at the Parliament, the return of the discussion for the “Mais Habitação” law. According to the information received, the discussion will take place on September 21st, followed by the confirmation vote on September 22nd, 2023.

As previously reported, is expected that the Government Party (PS – Partido Socialista), which holds the majority of seats in the parliament, reconfirms the “Mais Habitação” law. If so, and since only the majority of the votes are necessary for this matter, the next step in this process is to send the document to the President of the Republic.

After the voting, the bill will be sent to the President within the next 5 to 7 business days. Upon receiving the law the President has the usual 20-day deadline to decide if he will publish it or not.

Our advice to all our clients is to move forward as soon as possible with their investments. The current timelines will allow investors to start and submit their process before the potential end of the Golden Visa program.

In this sense, it is essential that we make our investors aware that the current average time to conclude the investment, with IAS, is around one week, which – under current timing, provides enough time to invest and be part of the Portuguese investment program.

We will continue to monitor the situation as closely as possible, keeping investors and partners informed of any developments while remaining available for any clarifications needed.

Thank you for your attention to this matter.

Mercan Group