Brazilians flock to Portugal as Golden Visa applications soar21 November
As Portugal's Golden Visa programme gains momentum, it is reaching a widespread international audience, with rapidly increasing numbers of interest and investment. One of the best of its kind, this programme grants international investors residency when they invest €500,000 or more in Portuguese real estate and paves the way to EU citizenship.
Interestingly, Brazilians hold the top spot for fastest growing investors through this programme with an impressive 222% growth between March 2016 and October this year. Second in line are South Africans at 160% and Lebanon hot on their tail at 116%. Since commencing in 2012, the programme has been heavily invested in by the Chinese, who have far surpassed other nations (they totalled 3,544 applications since March 2016, with Brazilians next in line at only 451), yet their growth has also slowed with now only a 44% increase in the past year and a half.
Portugal's Golden Visa programme has already proven to be extremely successful, with a total of €3.326bn investment since its launch five years ago, but these figures show promising signs that its success isn't slowing down.
Brazilians in particular are flocking to the country to take advantage of this and not simply because of the language aspect. Portugal's social stability and low crime rates are a breath of fresh air compared to the political situation in Brazil, and its fast-track opportunities to residency make it a front runner for the South Americans. Add on the fact that TAP airline flies from 52 Brazilian locations and that the Brazilian real is now worth much more in euros than at the start of 2016, and it's easy to see the motives behind this 222% increase.