Residency by Investment in Portugal Will Surpass the €5 Billion Mark
Portugal is poised to reach the milestone of 5 billion euro at the beginning of 2020. That said, the Portuguese programme slowed down slightly this November 2019 with only 64 applications approved for Residency by Investment. This brought 37 million euro to the local economy.
Traditionally, 90 percent of the investment went into property while capital transfer only reached 10 percent. By late November 2019, the total investment amounted to 4,948,268,913 euro, just 52 million short of 5 billion.
Only three current Residency by Investment programmes have attained this figure - the British Tier 1 investor visa, the Quebec IIP and the US EB-5 program. Among Citizenship by Investment providers, only Cyprus passed the 5 billion mark.
As regards Portugal’s Residency by Investment, Chinese nationals have been the predominant group. In November, 17 Chinese investors were granted residency along with 14 Brazilian applicants closely followed by Turkish, South African and Russians citizens.
Portugal granted approval to over 1,100 main applicants and 2,000 family members.
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