Following the decline in the first three months of 2019, investment in Portugal started to rise again in April. Portugal’s Golden Visa program generated € 246 million in the first quarter.
Portugal Golden Visa Program Is Still Strong
Portugal has issued Golden Visa to 421 applicants and 766 family members so far this year. The one third of the applicants are comprised of mainly Chinese investors. Since 2015, Chinese citizens have been the majority in Portugal Golden Visa applications. This rate was 80% in April 2015, 78% in April 2016, 67% in April 2017 and 42 in April 2018, and decreased to 31% in April 2019. There is a significant increase in the number of Brazilian and Turkish applicants. Brazilian investors accounted for 12% of all applications this April, followed by Turkish investors. Since Portugal launched the Golden Visa program in 2012, it has generated more than € 4.5 million. 91% of the investments made so far are real estate investments. Investors usually see Golden Visa program as a step to get Portuguese citizenship.
The Most Preferred Investment Type: Real Estate
Portugal Golden Visa program offers investors a permanent residence permit and a route to obtain Portuguese citizenship. The applicants mainly apply to the Golden Visa program by making real estate investment. Portuguese real estate market has developed so much since the 2008 crisis, and became more and more popular among foreign investors throughout the years. Especially the luxurious districts of Lisbon offer opportunities that bring high amounts of profit in a short period of time. Another attractive feature of the program is the Golden Visa programs paves the way for Portuguese citizenship if the applicant completed 5 years of legal residence in the country.
How Does The Portuguese Golden Visa Program Work
Portugal Golden Visa program provides the most investment options when compared to other residency by investment programs. The most popular investment type is the real estate option which requires a minimum of € 500.000 investment. If you invest in a property that is more than 30 years old or in any project within the scope of urban rehabilitation, the investment requirement goes down to € 350,000. Apart from real estate investment option, there are many other options, such as investing € 1 million in direct capital or providing 10 job positions that will last at least for 5 years. Once you receive the residence permit, you have to spend an average of 7 days each year in Portugal. At the end of 5th years you earn the right to apply for citizenship.