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 a highly sought-after EU passport. Due to the country dealing with Golden Visas for quite some time now, the process is rather streamlined. Apparently, 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 has 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 have not confirmed that many applications; but in July 2019 that record was dwarfed. A total of 155 new applicants received their residence permits in this month. These people have invested a total of 98.3 million dollars to get their residence permits. Some of them are likely on their way to be settle into their new homes, or  renting them for more profit. One thing is for certain though, they are made up of a composition that was not really common before.

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 remain on similar levels as well. Just as in Greece’s case, the majority of Portugal Golden Visa investors are from China. In July 2019 alone, 40 Chinese applicants received their Portuguese residence permits though Golden Visa application. That is actually less than the previous month’s 45. However, things seem like they are about to change.

Brazilians are Coming in as Strong Contenders to Russians

The surprising thing about July 2019’s data is that the Brazilian investors of Portugal have seen a sharp rise since the previous month. 37 Brazilians were obtained their residence permit in Portugal in July 2019 in comparison to only 24 in June 2019. The difference between Chinese and Brazilian investors in July was only 3 and it is possible that the Brazilians could take over the Chinese hegemony in Portuguese Golden Visa applications. These two nations are followed by Russian, Turkish, and South African individuals who all have been sending 4-5 investors a month since April 2019.

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