Tens of thousands of Brazilians have immigrated to Portugal in the last couple of years. This influx can be explained by the fact that both countries share a common past and a language. There are other Portuguese speaking countries that could do the same as well, but they do not at this rate. Here is why Brazilians are flocking to Portugal these days.
Since 2016 There Has Been a Huge Acceleration in the Growth of Brazilians Among Portugal Golden Visa Seekers
There were always Brazilians who wanted to live in Portugal, but these numbers increased dramatically after 2016. In that year, the number of Brazilian applicants for a Portugal Golden Visa rose by 117%. There were only 44 such people in 2015, whereas the number reached 119 in 2016. That would later become 191 in 2017. This increase came to a halt with a lesser 180 in 2018 but the professionals predict that in 2019 a total of about 155 Brazilians will apply for a Portugal Golden Visa, which will mark yet another massive increase in the number of Brazilians applying to the program.
Politics and Economics of Brazils Are Pushing its Citizens Away From It
Brazil’s political arena is going through some changes. The future of economy and social standing is yet to be seen under Jair Bolsonaro’s rule. He plans to increase the retirement age for Brazilians from the mid-50s to mid-60s. This will save a lot of funds for the country, but naturally, it is not welcomed by the Brazilian working class. Many prefer to get their retirement advantages earlier on and are thus looking for other countries they can call home and therefore get away from the economic decisions made by their new president.
Portugal continues to be a Centre of Attraction for Foreign Investors
Of course, these Brazilians could look for many countries to invest in, but Portugal Golden Visa is often their go-to due to a couple of essential reasons. The shared culture is one of them. The tax benefits are yet another. Though more importantly, Portugal offers Brazilians a safe port, away from the uncertainty and lack of security they suffer from at home. Portugal, on the contrary, continues to be one of the safest countries in the world. These and more cause Brazilians to flock into the little country on the side of Iberia in increasing numbers. The Portugal Golden Visa program requires a minimum of €500.000 real estate investment. The Golden Visa holders have the right to travel within the Schengen Area without a visa.
Get more information on the Portugal Golden Visa programme.