Portugal Golden Visa Applications Reach a New High

Portugal Golden Visa Applications Reach a New High

It is no secret that Portugal’s Golden Visa program is one of the most preferred residency by investment programs on the market these days. It isn’t only more affordable than the other programs but also provides its applicants with a highly sought-after EU passport. Due to the country dealing with Golden Visas for quite some time now, the process is rather streamlined. All this and more caused the Portugal Golden Visa program to get even more popular.

A New Record Broken

Last year, Portugal’s golden visa scheme reached a new record high of issued residence permits with an %13 of increase by the end of the year 2019. Since March 2018, the committee responsible for Golden Visa approvals has not confirmed that many applications, but by the beginning of 2020, that record was dwarfed. A total of 8,466 applicants received their residence permits by May 2020. These people have invested a total of 5,15 billion Euros in getting their residence permits. Some of them are likely on their way to settle into their new homes. Others rent their properties to get a return on their investments.

Chinese Investors are Continuing to Dominate for Now

A plethora of nationalities can be seen applying for a Portuguese Golden Visa, but the “top players” are often the same, and the number of applicants remains on similar levels as well. Just as the case in Greece, the majority of Portugal Golden Visa investors are from China. Out of the 8,466 applicants, 4,518 are of Chinese origin, constituting more than half of all participants.

Brazilians are Coming in as Strong Contenders to Russians

The surprising thing about the current data is that the Brazilian and Turkish investors in Portugal have seen a sharp rise since the previous years. 895 Brazilians and 401 Turks obtained their residence permit in Portugal as of May 2020. In recent years, Turks and Brazilians may take over the Chinese hegemony in Portuguese Golden Visa applications. These three top nations are followed by Russian and South African applicants who all have been sending a single digit of investors monthly.

Here is a comprehensive guide on the Golden Visa program in Portugal.

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