According to recent figures from the SEF (Foreigners and Borders Service), investment in Portugal via the Golden Visa residency scheme in October this year was double that of September!
A Golden Visa Permit is a fast-track method for non-EU members and their family members to obtain residency. The Portugal program has proven to be one of the most popular schemes in Europe with investors attracted to its flexibility and benefits. An investment of €500,000 (or €350,000 reduced option) in property in Portugal will qualify you for a residency permit for a family, including dependent children.
The Portuguese Golden Visa can be renewed every two years (as long as the applicant spends two weeks in the country during those two years) and offers the ability to apply for permanent residency after 5 years and citizenship after 6 years, without Portugal being your permanent home.
Portuguese Golden Visa investment in October totalled a massive €74,202,048. There were 125 Golden Visa's issued, 118 of which were on the basis of property purchases amounting to €66,807,218. Of the permits issued for the purchase of property, only 19 of them represented instances of urban rehabilitation, for which the minimum investment threshold is lower.
Since the ARI programme (Residence Authorisation for Investment Activity) was launched in October 2012 cumulative investment totals €4078 billion. Over 6500 permits have been issued in that time, 1134 of them so far this year. A further 11,370 residency permits have also been issued to members of Golden Visa permit-holders’ families, of which 2055 are this year.
Find out all you need to know about applying for a Golden Visa in Portugal HERE.
Take a look at our Online Real Estate Clinic, where you will find answers to the questions our clients frequently ask about Golden Visa, plus other property related queries.
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