Portuguese Residency Investment Programme Is Poised to Hit €5 Billion By Year’s End
Portugal’s renowned investment migration programme is just EUR 89 million short of the 5 billion milestone. At this point, 1,099 main applicants and 1,941 family members were granted Portuguese residency. The Residency by Investment (RIP) revenues boosted by 24 percent month-on-month this October, reaching EUR 60 million. The ratio between funds transfer and property purchase is now one to nine.
First in the chart of new Portugal’s residents come Chinese nationals - 28 new investors in October. Brazilians came close with 15 along with seven investors from Russia, four from Turkey and four from South Africa.
From January 1 through the end of October, the applicants have invested EUR 661.5 million, or EUR 66.15 million monthly. At this pace, Portugal will raise around EUR 800 million by the year’s end. It’s also worth noting that both approval and funding volumes are traditionally higher in November and December than in summer.
Overall, the Portuguese programme has yielded EUR 4.9 billion since its launch in 2012. Investors on the programme mainly opt for property acquisition. However, there may be an increased demand for private equity and venture capital investment which present lower qualifying minimums.
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