Golden Visas Surge in May

10 June 2020 According to statistics from Portugal’s Foreigners and Border Service (SEF), investment in the country’s golden visa program nearly tripled in May to 146 million euros. Total investments from the program reached €146,168,473.40, an increase of 192% y-oy and the highest monthly volume of investments since March 2017 (192.4 million euros).

The total investment raised through the issuance of golden visas in the first five months of the year, totalled €293,903,059.01, 1.7% less than in the same period in the year before, for a total of 529 new visas. Of that, 270 were issued just last month.

Sixty-eight visas were issued to Chinese nationals last month, with another 30 to Brazilians, 19 each to US and Indian citizens and seventeen to Turkish nationals.

During the last seven years – the residence visa program has brought in more than €5.25 billion, of which the acquisition of real estate accounted for €4.78 billion. The Portuguese government issued just two visas in 2012, 494 in 2013, 1,526 in 2014, 766 in 2015, 1,414 in 2016, 1,351 in 2017, 1,409 in 2018, 1,245 in 2019 and 529 so far in 2020.

Original Story: Diário Imobiliário / Lusa

Translation/Summary: Richard D. Turner