Portugal golden visa scheme on a decline!

Portugal’s golden visa program, which generated over 2 billion euros seems to be on a decline.  Foreign investors can get residency in Portugal, provided they buy a property worth 500,000 euros.

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According to the statistics SEF Portugal immigration office, only 80 ARI residence permits were issued in August 2016 under golden visa scheme.

Analysing the 3 month statistics (May – Aug 16),

  • 3452 residence permits issued in May,
  • 3609 in June,
  • 3715 in July ,
  • 3795 Aug of  the year 2016.

Now we subtract the differences in totals to evaluate monthly totals.

Month Residence permits issued
 June ’16  157
July ’16  106
Aug ’16 80

These latest statistics of the month August until 31 st, also show only 45 chinese, 9 Brazilians, 1 Russian, 10 South africans, 2 lebanese granted golden visa in one month period.

Chinese are the majority investors in golden visa scheme, which catapulted golden visa scheme a great success!

It is not entirely known what is causing the decline, and few reasons one could speculate, rising property prices in Portugal, or a brexit fallout.

We assist clients with golden visa scheme in Portugal. Please contact our team.

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Balakrishnan Prabhu

Mr. Balakrishnan Prabhu is the founder of Corpocrat magazine. He is also the founder of Best Citizenships (BC), assisting wealthy individuals with with global citizenship and residency programs in Europe. His other interests are Linux, Machine learning, Wordpress, etc. You can contact him here