Portugal's Golden Visa attracting more Brazilians

Tue 22 Oct 2019

In Portugal, Chinese investment in real estate raised through Golden Visa permits fell 11% until September, compared to the same period of 2018, to 180 million euros - 23 million less than the previous year, according to Immigration and Borders Service (SEF).

However, over the same period, there was a nationality that stood out and is currently gaining ground: in the first nine months of the year 176 Golden Visa permits were granted to citizens of Brazilian origin, whose total investment amounted to 132.6 million euros, 46.5% more than a year ago.

Investment from Turkey fell 48.5% between January and September, compared to the same period of 2018, to 38.5 million euros, out of 71 Golden Visa awarded, according to Lusa.

In the Top 5 of nationalities investing in Golden Visa property are still the United States, totalling 38.5 million euros as of September, with 49 Investment Residence Permits (ARI) granted. Russia, with 40 Golden Visa permits, totalled an investment of 26.3 million euros in this period.

In September, total investments raised by this route amounted to 48,450,021.42 euros, an increase of 29.7% over the same month of 2018 (37 million euros). Compared to the previous month, there was a decrease of 41%.

In almost seven years - the program was launched in October 2012 - the investment totalled 4,851 million euros, with the acquisition of properties totalling 4,378 million euros.

Golden Visas granted in Portugal through capital transfer amounts to 472.5 million euros.

Since 2012, 7,960 Golden Visas have been granted: 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 998 this year.

Read the original article in Portuguese here.

Photo by Agustín Diaz on Unsplash Brazil

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