{"id":9221,"date":"2017-05-29T14:51:57","date_gmt":"2017-05-29T14:51:57","guid":{"rendered":"https:\/\/www.investmentimmigration.com\/?p=9221"},"modified":"2019-02-12T14:01:44","modified_gmt":"2019-02-12T19:01:44","slug":"portugal-golden-visa-attracts-investment-worth-3b","status":"publish","type":"post","link":"https:\/\/www.investmentimmigration.com\/portugal-golden-visa-attracts-investment-worth-3b\/","title":{"rendered":"Portugal Golden Visa attracts Investment Worth $3b"},"content":{"rendered":"

Investment in Portugal\u2019s Golden Visa<\/a> has crossed the $3 billion threshold, according to the European country\u2019s immigration department.<\/p>\n

\"PortugalFigures show $2.7 billion out of the total was invested in property, with the remainder flowing in through the capital transfer stream of the popular investment immigration program.<\/p>\n

The total number of visas issued reached 4,881 in March 2017, since the program was launched on October 8, 2012. That includes 679 visa awarded so far this year.<\/p>\n

Portugal\u2019s program is well-established and features access to the whole of the EU, a key benefit for mainly-Chinese investors looking for a better future for their offspring.<\/p>\n

This includes attending European universities for a fraction of the tuition fees paid by overseas students.<\/p>\n

The program has been lucrative for the Portuguese economy, particularly the real estate market, which has recovered from the dark days of the global financial crisis thanks in part to the investment attracted.<\/p>\n

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Investment Requirements: Portugal Golden Residence Investor Program<\/h3>\n

Capital Investment<\/strong>
\nTransfer of capital of minimum value of \u20ac1 million into Portugal including through purchase of shares in companies<\/p>\n

Jobs<\/strong>
\nCreation of at least 10 new positions in Portugal<\/p>\n

Real Estate<\/strong>
\nPurchase of unencumbered real estate in Portugal of a minimum value of \u20ac350,000. Co-ownership or purchase of property through finance is permissible provided each individual makes a mandatory minimum investment of \u20ac350,000.<\/p>\n

Urban Rehabilitation<\/strong>
\nInvestment of at least \u20ac350,000 in constructed 30 years ago or investment for rehabilitation of properties located in Urban Rehabilitation Areas<\/p>\n

Scientific Research and Development<\/strong>
\nInvestment of at least \u20ac350,000 in R&D activities of institutions that are part of the national technological system.<\/p>\n

Promotion of Culture<\/strong>
\nInvestment of at least \u20ac250,000 towards financing of bodies pursuing cultural or artistic activities or towards renovation or maintenance of cultural heritage.<\/p>\n

Small-Cap and Mid-Cap Finance<\/strong>
\nInvestment of at least \u20ac500,000 towards purchase of units of small-cap or mid-cap venture capital funds.<\/p>\n

Investment in Low Population Areas<\/strong>
\n20 per cent reduction in minimum investments in the above-mentioned categories when investment is made in a low population-density area.<\/p>\n

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Although property investment is not the only investment stream, it is by far the most popular, as investors look to use Portuguese residency as an access window to the European Union. The program is overwhelmingly dominated by Chinese investors, although Russians and Brazilians are also key candidates.<\/p>\n

Changes implemented in September 2015 rejuvenated the program.<\/p>\n

They included new investment options for buying older property, or buying a building in a designated regeneration area. Aa scientific research investment option was also introduced.<\/p>\n

Existing investment classes include general real estate, capital transfer and job creation.<\/p>\n

There were fears candidates for investment immigration programs could start\u00a0turning their attention away<\/a>\u00a0from European countries like Portugal and towards the Caribbean, because of the UK\u2019s impending exit from the European Union.<\/p>\n

\u2018Brexit\u2019 could mean the investment immigration programs run by the likes of Cyprus, Malta and Portugal may no longer be able to offer visa-free travel to the UK, one of their key benefits.<\/p>\n

But the continued success of the Portugal program appears to suggest there has been little impact so far.<\/p>\n

Portugal\u2019s golden visa has been highlighted as one of the chief drivers behind\u00a0Lisbon\u2019s emergence from economic difficulties<\/a>.<\/p>\n

Global real estate agency Savills says the property market in the capital is thriving thanks to the success of the investor program.<\/p>\n

The Savills report uses data up until 2015, pointing out that \u20ac1.56 billion of investment could be traced back to the 2,697 golden visas awarded under the program. Chinese investors account for 83 per cent of real estate acquisitions.<\/p>\n

Further reading<\/b><\/p>\n