Golden Visas Bring in 11.4% Less Investment in 2019

16 January 2020 Revenues generated by Portugal’s golden visa residency program fell by 11.4% in 2019 compared to the year before. In total, the Portuguese state awarded 1,245 golden visas. The visas are residency permits that are awarded when an individual invests in the country, most often through the acquisition of real estate.

Of the 1,245 visas, the state granted 1,160 (totalling 660.7 million euros) based on real estate acquisitions. Visas granted through capital transfers were much rarer, just 81. Furthermore, the option to gain a visa by creating ten jobs in the country resulted in just four golden visas.

According to Portugal’s immigration authorities, the country has awarded a total of 8,207 golden visas since the program’s creation. Immigration authorities awarded two in 2012, 494 in 2013, 1,526 in 2014, 766 in 2015, 1,414 in 2016, 1,351 in 2017, 1,409 in 2018 and 1,245 in 2019.

Chinese nationals snapped up more than half (4,467), followed by Brazil (863), Turkey (380), South Africa (320) and Russia (296). China, however, saw a drop of 19% year-on-year while issuances to Brazilians rose by more than 6%.

Original Story: Público

Translation/Summary: Richard D. Turner

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