August 27, 2019
According to The Portuguese Immigration and Borders Service (SEF), in July 2019 a total of 155 new main applicants were awarded their Portuguese residence permits. The total investments for the month add up to 98.3 million euros. This is a record high number after March 2018.
Chinese are still in the lead with 40 new applicants in July, followed by Brazilians with 37 new applicants. The recent rise in the number of Brazilian may threaten the current Chinese hegemony in Golden Visa applications in Portugal. In aggregate, however, China’s lead appears unassailable; at 4,331 investors, Chinese investors still outnumber applicants from all other countries combined. But Chinese dominance has waned since the early years; as recently as 2015, eight out of ten participants were Chinese. Total investment in the program so far in 2019 now stands at EUR 470.5 million – an average of EUR 67 million a month, the implication of which is that the program is poised to raise about EUR 806 million by Dec 31st. Overall investment since the program opened in November 2012 now stands at EUR 4.7 billion (US$ 5.3 billion), nine-tenths of which took the form of immovable property.
PORTUGAL GOLDEN VISA
The Residence Permit for Investment Activity also known as Golden Visa allows any investor to freely circulate and work in Europe (Schengen Area), without any restrictions.
Third country nationals who either carry out investment activities personally or through a company that lead to, as a rule, at least one of the following situations in Portuguese territory for a minimum period of five years:
- The acquisition of real estate with a value of 500 thousand Euros or more*
- Investing in green projects (Green Visas)
- Transfer of capital worth 1 million Euros or more (including investments in company stocks or shares)
- The creation of at least 10 jobs
- The transfer of capital in values greater than or equal to 250 thousand Euros, applied to support artistic production, recovery or maintenance of cultural heritage
- Transfer of capital in values greater than or equal to 350 thousand Euros, applied to scientific and technological research activities
- Transfer of values with a global value greater than or equal to 500 thousand euros for the purchase of participation units in investment funds or risk capital aimed at the capitalisation of small and medium companies which, for this purpose, present the respective capitalisation plan which is deemed viable.
*The purchase of real estate with a global value greater than or equal to 350 thousand euros (in an area of urban rehabilitation, or buildings over 30 years old and the implementation of recovery works to the property purchased)
For more information about GOLDEN VISA