Number of visas and national composition
Between January and July 2020, Portugal issued 2,232 gold visas. Of these, 808 were granted to the main applicants and 1,424 to their family members. Thus, the investment program has brought the country € 439 million, which is only 6.7% less than the profit for the same period in 2019.
Number of gold visas issued in Portugal
Source: SEF, August 2020.
In 2020, the national composition of applicants changed. Previously, investors from China purchased about half of the gold visas for Portugal. In January-July 2020, they accounted for 23% of applicants. At the same time, half of the visas were issued to investors from countries that are not in the top five by number of applications (the top includes China, Russia, Brazil, South Africa and Turkey).
For the first 7 months of 2020, 44 investors from Russia received gold visas for Portugal. The indicator rose by 69% – for the same period in 2019 residence permit cards issued 26 Russians.
Demand for investment options: Leader property for €500,000
Source: SEF, August 2020
In second place in popularity is the option with the purchase of real estate, which requires restoration. Its minimum value is €350 thousand. In 2020, it was preferred by 28% of investors, and in 2019 – 17%.
The popularity of the option with investments in investment funds from €350 thousand is growing. In January-July 2020 it was chosen by 28 investors. For the whole 2019 this option was chosen by 7 applicants.
In 2020, the popularity of the option, which provides for the purchase of shares of Portuguese companies for € 1 million, decreased. Usually it is chosen by 5-6% of investors, but in January-July the share of such buyers fell to 3%.
Data for July 2020
In July 2020, Portugal’s residence permit program for investment brought the country €56 million. This is much less than in July 2019 (€98 million), but close to the monthly average of 2019 (€62 million). Portugal’s Golden Visas were granted to 108 investors and 202 family members in July 2020.
Earlier we said that May 2020 was a record month for the Portuguese residence permit program for investment. Then the gold visas were approved for 259 investors. Indicators in May offset the decline due to the coronavirus pandemic, which occurred in January-April 2020.
Program results since 2012
The program works since 2012. During this time, 9015 principal applicants and 15 431 family members received a residence permit for Portugal for their investment.
The ratio of the number of citizens of different countries is gradually changing. Thus, if by 2015 82% of investors were from China, by 2020 their share in the total number has decreased to 52%. At the same time, the share of major applicants from Russia, Turkey, Brazil and South Africa is gradually growing.
The national composition of investors is gradually becoming more diverse. In 2014, the share of investors from countries outside the top 5 was at 9%. To date, the cumulative total for the entire period of the program their share is already 25%.
Earlier we told you that Portugal is a great place to live. It has a mild climate, good ecology, a high level of welfare and a comfortable environment for doing business. Separately, it is worth noting security – the country is on the 3rd place in the Global Peace Index 2020.
Portugal’s residence permit programme for investment is constantly being improved so that it remains competitive even during the crisis. Thus, the Government has recently simplified the conditions for obtaining citizenship for resident children and extended the validity of the residence permit card.