The Portuguese Golden Visa programme has been recognised as one of the best residency programmes in Europe, thanks to its flexibility and benefits. Since 2012, the scheme has brought in more than €5.5bn in foreign investment and 9,200 investors – plus a further 15,792 ‘dependent’ family members – have been granted a Portugal Golden Visa so far.
Though there are several ways to become eligible for a Golden Visa, real estate investment leads the way and accounts for around 90% of all applications, bringing in €4.9bn since the programme began. The majority of investors choose to acquire real estate valued at €500,000+ and a smaller percentage, accounting for €263m in investment, opted to purchase a property worth €350,000+ to refurbish.
SEF has recently published the results for September 2020 and last month saw a total of €43.5m of investment, a 10% decrease when compared to September last year. During this month, 78 visas were granted to investors and a further 145 visas were awarded to qualifying family members.
Unsurprising, most of the visas were awarded via investment in Portuguese real estate. Though most of the applicants invested in real estate worth €500,000 or more, 16 applicants invested a sum of €5.6m in properties for the purpose of refurbishment.
After real estate investment, the next most popular way to obtain a Golden Visa is through capital transfer, accounting for €4.1m of the total investment for September. €2.1m was invested via funds, a 20% increase when compared to August. The rest of the income came from investors making a capital transfer of €1m or more.
In September, 15% of all applicants were Chinese residents. However, this isn’t unusual as Chinese nationals account for more than 50% of all Golden Visa applications since the programme’s creation. The rest of the investors last month were predominantly from Vietnam, South Africa, Brazil and the UAE.
With a shared language, it is not surprising that Brazilians have always been very interested in investing the Portuguese Golden Visa programme and, after China, they are the most represented nationality accounting for 993 Golden Visas since 2012. Brazil is closely followed by: