Portugal is poised to reach the milestone of 5 billion euros 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 euros 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 euros, just 52 million short of 5 billion.
Only three current Residency by Investment programs 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 to the Portugal Residency by Investment program, 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 Russian citizens.
So far, Portugal has approved over 1,100 main applicants and 2,000 family members.
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