Golden visa investment scheme in Portugal falls 23%

Investment in so-called “golden” visas, the process whereby non-EU citizens can “buy” residence visas in Portugal, fell 23 percent in the first half of the year.

A total of 7,583 “golden” visas have been granted – two in 2012, 494 in 2013, 1,526 in 2014, 766 in 2015, 1,414 in 2016, 1,351 in 2017, 1,409 in 2018 and 621 so far in 2019.

When it comes to who is taking up the programme, 4,291 golden visas have been granted to Chinese citizens, 764 to Brazilians, 347 to Turkish, 299 to South Africans and 263 to Russians.

While the programme appears to be attracting fewer investors, figures for the month of June (total €73 million) represent an increase of 38 percent compared to the same period last year.

Of this €73 million, almost €64 million came from property purchases (representing 108 visas granted) and €9 million came from capital transfers (nine visas granted). One visa was granted in June for setting up a business to create a minimum of 10 jobs.

In the six and a half years since the scheme was launched, golden visas have brought in a total of €4.6 billion.

Of this figure, €4.1 billion was from property purchases and €442 million from capital transfers.

 

Via Portugal News