Over a Third of Portugal Residency Applicants Choose Alternative Investments
PORTUGAL (EU) RESIDENCY
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In July 2020, Portugal’s Residency by Investment (RBI) Programme attracted €56 million. This is €42 million less than in July 2019, yet close to this year’s monthly average. As of now, Portugal has raised €439 million in 2020.
Where do the earnings come from? Over 100 main applicants and 200 dependents obtained their residency in July. The Chinese investors led the game with 21 successful main applications, closely followed by American, Brazilian and Vietnamese candidates.
Since the programme’s launch in 2019, over 9,000 investors and 15,000 family members have received their residence permits. The Chinese still remain the main applicant group although the ratio dropped from an erstwhile 82% of all applications to about 40% these days.
As the origin of applicants diversifies, so do the investment options. Most of the investors - about 90 percent - purchased local property in the years 2012-2018. The minimum investment here is €500,000. Now, the picture is different - with just 65 percent of candidates opting for conventional real estate in 2020.
Instead of the €500K new property route, 28 percent have chosen to buy dwellings in need of repair. The minimum requirement in this segment is €350,000. In 2020, this option is becoming increasingly popular every month. Also, the number of applications channeling funds to venture capital/investments had quadrupled compared to the last year’s showings.
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