Demand for Portugal’s Golden Visa continues to intensify
08 December 2016
One of the most popular residence by investment programs in Europe; demand for Portugal’s Golden Visa continues to grow as it’s named the best scheme of its kind in the world.
Portugal’s SEF Immigration and Borders Service recently reported that 1,100 Golden Visas were issued in the months between January and September 2016 - a significant increase on the 766 issued in 2015. As this year’s demand continues to outshine that of last year, the demand looks set to continue into 2017.
Following the global downturn in 2008, Portugal’s government have increasingly sought to attract overseas investment. Portugal’s Golden Visa scheme offers a truly unique incentive, recently named the best scheme of this kind in the world by Henley & Partners’ Global Residence Program Index (GRPI) report.
The report examines 19 residence-by-investment programs and 7 citizenship-by-investment programs across the world and according to CEO Eric Major, Portugal ranked number one based largely on the scheme’s low investment requirements.
Recent changes to the Golden Visa scheme have reduced the investment required to just €350,000 for property more than 30 years old or situated in districts designated for urban regeneration; with the potential for this figure to be lowered even further if the property is in an area of low population density. Elsewhere in the country, the minimum investment required remains at €500,000; still considerably lower than many similar programmes.
Launched in October 2012, the Golden Visa scheme has contributed almost €2.4billion to Portugal’s property market, with a total of 3,609 permits granted. Amongst these, Chinese nationals make up the majority with 2,743 permits issued (approximately 76%), followed by Brazilian buyers with 180 (5%).
Following the UK’s recent decision to leave the European Union, many British nationals are looking to join the queue for a Portuguese Golden Visa, according to the Financial Times. Henley & Partners reported a nine-fold increase in British visitors to their website following the referendum announcement, as Brits increasingly look for ways of maintaining their freedom of movement around Europe.
Property in Portugal has long been an attractive investment, with the Golden Visa providing a welcome bonus. Portugal’s Non-Habitual Tax Residency program has also been extremely popular, allowing foreign buyers to benefit from a uniquely low tax rate. Portuguese property currently offers prices significantly lower than many other European countries, but are rising steadily, providing outstanding capital appreciation potential. This, combined with recent research placing Portugal third in a list of the highest rental returns in Europe, makes it clear that the Golden Visa is one of many attributes making Portugal one of the world’s most attractive destinations for property investment.
For more information on Portugal’s Golden Visa scheme, view our Golden Visa Residency FAQs or contact our sales team on +44 (0)1202 765011.
Read More: Golden Properties for sale in Lisbon.