Portugal's Golden Visa Attracts €7.3 Billion, 12,000+ Residency Permits
The Portugal Golden Visa program, launched in 2012, has drawn in a staggering 7.3 billion Euros, granting over 12,000 investors residency permits. This program, offering a pathway to EU residency, has seen a surge in popularity due to Portugal's geopolitical and economic advantages.
The Golden Visa program's appeal lies in Portugal's high living standards and free movement within the EU. Since 2017, a significant reform has shifted the focus towards investment funds supervised by the Portuguese CMVM, with a minimum investment of €500,000. These funds must allocate at least 60% of their assets to Portuguese projects, particularly in the tourism and hospitality sectors. Direct real estate investments are no longer eligible.
To qualify, applicants must not be EU, EEA, or Swiss citizens and have a clean criminal record. The investment option was introduced through Law 102/2017, requiring a minimum 5-year maturity and 60% allocation in Portugal-based investments. The program demands a lower physical residence requirement compared to similar programs in Spain and Greece, with investors needing to stay only 7 days a year.
In 2023, the number of American investors surged by 162.5% to 567. Investors must declare that their funds come from a legal and traceable source and may need to provide proof during the process. Portugal's growing tourism industry has led to the emergence of numerous Golden Visa funds in this sector.
The Portugal Golden Visa program continues to attract significant investment, with 7.3 billion Euros and over 12,000 residency permits granted since its inception. The program's popularity can be attributed to Portugal's advantages and the 2023 reform that shifted focus towards investment funds. With a lower residence requirement and a surge in American investors, the program's appeal remains strong.
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