{"id":54666,"date":"2018-11-15T17:22:59","date_gmt":"2018-11-15T22:22:59","guid":{"rendered":"https:\/\/www.investmentimmigration.com\/?p=54666"},"modified":"2018-11-15T17:22:59","modified_gmt":"2018-11-15T22:22:59","slug":"how-portugals-golden-visa-program-sparked-economic-revival","status":"publish","type":"post","link":"https:\/\/www.investmentimmigration.com\/how-portugals-golden-visa-program-sparked-economic-revival\/","title":{"rendered":"How Portugal\u2019s Golden Visa Program Sparked Economic Revival"},"content":{"rendered":"<p>Buffeted by a global recession and witnessing a plunge in foreign investment, <a href=\"https:\/\/www.investmentimmigration.com\/portugal-investor-golden-residence-programme\/\">Portugal introduced its golden visa program<\/a> in 2012 to attract foreign capital through investment immigration.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>The program allowed non-EU nationals to become permanent residents of Portugal by purchasing a property worth at least \u20ac500,000.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>Today, applicants have numerous other investment options. including<\/p>\n<ul>\n<li>\u20ac1 million capital transfer into the country;<\/li>\n<li>\u20ac350,000 investment in<span class=\"Apple-converted-space\">\u00a0<\/span>\n<ul>\n<li>A 30-year old property or one located in an urban regeneration area.<span class=\"Apple-converted-space\">\u00a0<\/span><\/li>\n<li>A public or private scientific research institution, or<\/li>\n<li>A commercial society in Portugal combined with creation of five jobs, or<\/li>\n<li>A venture capital fund investing at least 60% of its funds in Portuguese companies, or<\/li>\n<\/ul>\n<\/li>\n<li>\u20ac250,000 investment in support of art or reconstruction of the national heritage<\/li>\n<\/ul>\n<p>Real estate continues to remain the preferred investment option for wealthy investors seeking permanent residence in the country.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>This foreign demand has contributed significantly to the impressive recovery of the country\u2019s real estate and tourism sector over the past six years.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<h3>Rapidly Expanding Real Estate Market<\/h3>\n<p>While the earliest applicants preferred to focus on the Lisbon and Algarve markets, more and more investment immigrants are now looking to invest in other parts of the country.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>The breadth of the real estate market has grown primarily due to the rapid rise in property prices in the capital city. As of 2018, real estate in Lisbon is 24 per cent up on the 2012 lows.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<hr \/>\n<p><b>Read More<\/b><\/p>\n<p><a href=\"https:\/\/www.investmentimmigration.com\/portugal-golden-visa-propelled-eu-countrys-economic-turnaround\/\">How Portugal Golden Visa Propelled EU Country\u2019s Economic Turnaround<\/a><br \/>\n<a href=\"https:\/\/www.investmentimmigration.com\/portugal-golden-visa-popularity-surges-2018\/\">Portugal Golden Visa Popularity Surges In 2018<\/a><\/p>\n<hr \/>\n<p>In 2017, property prices in Algarve, another popular destination for golden visa applicants, registered a 7.5 per cent increase as compared to the previous year.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>With more than 6,300 golden visa applicants from China, Russia, South Africa and other countries owning property in prime markets, there is a natural and inevitable expansion of demand to other regions.<\/p>\n<h3>Aiding Property and Rent Reform<\/h3>\n<p>The golden visa program has also helped the government push through much-needed rent reforms in the country.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>Until 2012, the imbalance between tenant-landlord rights and responsibilities deterred foreign investors from buying into the sector.<\/p>\n<p>The golden visa facilitated rent reforms that revived interest among developers and investors alike. Further, the program has changed Portugal\u2019s real estate market at a fundamental level.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>Prior to the program, the majority of foreign investment into the property market would come from buyers in the UK and Ireland. Post the program\u2019s introduction, buyers from Scandinavian countries, Germany, and France have become more active.<\/p>\n<h3>Collateral Gains: Tourism Sector<\/h3>\n<p>Tourism has long been considered a reliable indicator of strength of international demand in a country\u2019s real estate.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>Not surprisingly, tourist inflow into Portugal jumped 12 per cent in 2017 with close to 60 per cent of all visitors arriving from developed countries like the UK, Germany, France, Spain, and emerging markets like Brazil.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>Short-term visitors apart, the program has contributed to a 100 per cent rise in the population of foreign-born residents in the country, from 207,000 in 2000 to 416,000 as per the latest data.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>The program\u2019s popularity seems assured in the near future with the government resisting the temptation to tinker with rules related to property taxes or foreign ownership.<\/p>\n<p>Further, the zero tax on inheritance also makes Portugal attractive for the next generation of golden visa settlers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Buffeted by a global recession and witnessing a plunge in foreign investment, Portugal introduced its golden visa program in 2012 to attract foreign capital through investment immigration.\u00a0 The program allowed non-EU nationals to become permanent residents of Portugal by purchasing a property worth at least \u20ac500,000.\u00a0 Today, applicants have numerous other investment options. including \u20ac1&hellip;<\/p>\n","protected":false},"author":2,"featured_media":54667,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"footnotes":"","_jetpack_memberships_contains_paid_content":false,"jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[454],"tags":[4036,4047,4049],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.investmentimmigration.com\/wp-content\/uploads\/2018\/11\/Portugal_54550015.jpeg","jetpack_shortlink":"https:\/\/wp.me\/p8hnWW-edI","jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/posts\/54666"}],"collection":[{"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/comments?post=54666"}],"version-history":[{"count":0,"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/posts\/54666\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/media\/54667"}],"wp:attachment":[{"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/media?parent=54666"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/categories?post=54666"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmentimmigration.com\/wp-json\/wp\/v2\/tags?post=54666"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}