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The commission has refrained from launching legal actions against EU states that sell residence permits, also known as "golden visa schemes", without requiring investors to stay in the country for a meaningful period, despite a European Parliament resolution urging such a move.
"They really want to come and live here and adopt a different lifestyle," she said, even though the introduction of the golden visa scheme in 2012 has contributed to an unwelcome surge in property prices.
The European Commission said the decision was taken because the two member states granted nationality - and thereby EU citizenship - without requiring "a genuine link with the country", as passport holders were not obliged to reside there.
LISBON, Dec 11 (Reuters) - Investments through Portugal's "golden visa," which gives wealthy foreigners residence rights, jumped nearly 50% last month, data showed on Sunday, as the government considers whether to scrap the controversial scheme.
Vasco Silva, the CEO of Kleya, which helps foreigners move to Portugal, said his company had received many queries about what was going on, adding that some investors had rushed their decision just incase the program was altered or binned.
"We are not allowing entrance to criminals or money for which we do not know the source," Silva said. "Exceptions can happen but it will be one in 10,000 or two in 10,000 and of course those are the ones that go public."
The Portuguese branch of anti-corruption group Transparency International (TI) has said the program could be used for money laundering, while the European Commission has said it considers such schemes a potential security risk.
In Lisbon, Hadlock runs get-togethers to develop business ties between California and Portugal. The group calls itself Red Bridge, in a nod to the red suspension bridges spanning San Francisco Bay and the Tagus estuary.
Britain scrapped golden visas in February following the Russian invasion of Ukraine amid concerns about the inflow of illicit Russian money. Portugal suspended golden visas for Russians, but 431 had already benefited from the scheme since the time of its launch, according to SEF. ($1 = 0.9497 euros) (Reporting by Catarina Demony; Editing by Crispian Balmer)
The Cypriot and Maltese governments have two months to take action. Without meaningful changes, the commission could refer them to the bloc's Court of Justice and ultimately it can ask the court to impose penalties. ($1 = 0. For those who have virtually any questions relating to where along with how you can utilize portugal golden visa, you possibly can email us in our own web-site. 8467 euros) (Reporting by John Chalmers and Francesco Guarascio; additional reporting by Chris Scicluna in Valletta; Editing by Alex Richardson)
This year Americans are jostling with the Chinese for top spot among overseas investors lured by Portugal's "golden visas" -- residents permits issued for foreigners prepared to buy property or transfer capital to the Iberian country.
BRUSSELS, Oct 20 (Reuters) - The European Union's executive said on Tuesday it was launching legal action against Cyprus and Malta over their investor citizenship programmes, also known as "golden passport" schemes.
To apply, non-EU nationals must make a significant investment in Portugal, such as buying real estate. They are then given residency rights and are allowed visa-free travel throughout Europe's Schengen area.
Cyprus said last week it was suspending its citizenship-for- investment programme, ditching a scheme the government had acknowledged was open to abuse after an investigation by Al Jazeera, a media outlet.
Malta's Finance Minister Edward Scicluna said on Tuesday the country was replacing its current scheme with a new programme that would introduce tighter vetting of applicants, who will have to be residents of the islands for a year before their applications can be considered.