The Residence program of Portugal — Golden Residence Permit Program — has been operating since 2012. For 10 years, 10,515 investors have become participants in the program. Together with them, 17,498 members of their families received the so-called “golden visas”.
How many investors have received a residence permit in Portugal since the beginning of 2022
538 foreigners received a residence permit in Portugal for investment from January to March 2022. Of these, 261 people are investors, another 277 are members of their families.
The demand for the residence permit program in Portugal is stable. The statistics are published monthly by the Integration Agency of the country. The reports take into account the number of issued residence permit cards, the countries of citizenship of investors and their choice between investment options.
The number of applicants increased by 13% in the first quarter of 2022 compared to the first quarter of 2021. But the total number of residence permit cards issued decreased by 2%: fewer relatives participated in the program along with investors.
American citizens received the most golden visas: Portugal issued 52 residence permit cards to American investors in the first three months of 2022. This is a record for participants from America. For comparison, at the beginning of 2021, American investors were not even in the top 5 participants, but for the whole year Portugal has issued 99 Residence cards to Americans.
Citizens of China are in second place in terms of the number of participants. 43 Chinese investors became Portuguese residents.
How much and in what program participants invested
The income from the program for the three months of 2022 amounted to about 125 million euros. Of these, 57.5 million euros account for the option to purchase real estate in the amount of €500,000. For another 39.5 million euros, investors bought real estate over 30 years old, which are located in renovation areas.
195 investors chose to buy real estate. The demand for these two options is explained by the high liquidity of Portuguese properties. Real estate prices in major cities and resorts in Portugal are growing by 7—10% per year. The cost of housing in the country has increased by 50% over the past 10 years, according to Eurostat data.
The greatest demand among investors is for commercial properties in Lisbon and Porto and residential real estate in Cascais and Algarve. Housing on the island of Madeira is also gaining popularity.
Return on investment is the main advantage of options with the purchase of real estate. The investor has the right to sell the object after five years of ownership and return the money invested. If real estate prices in Portugal continue to grow during the ownership of the property, the investor will also earn on the difference in value.
Portugal Investment Property Examples
58 investors have chosen to buy shares of investment funds. An investment fund is a financial company that collects investors' money and invests it in selected assets: residential or commercial real estate, Portuguese companies, industrial facilities or the European stock market.
Minimal amount of investment for this option — €500,000. You need to invest for at least 5 years, but more often the money is returned after 6-10 years.
7 investors have transferred from 1.5 million EUR to local banks, in order to get a residence permit in Portugal. Another 1 applicant chose the option to support Portuguese culture and art.
What opportunities do investors get with a residence permit in Portugal
Residence permit for the whole family in an EU country. The investor has the right to include members of his family in the application for a residence permit: spouse, children under 26 years old and parents over 65 years old.
Portugal is a European country with a developed economy and a high standard of living. The investor and his family will be able to permanently live, work and study in the country. Portugal is also one of the safest places in the world, coming in fourth place in the List of the most peaceful countries of 2021.
Visa-free travel within Schengen. Residents of Portugal travel without visas to the countries of the Schengen zone and can stay in any state of the region for up to 90 days in half a year.
The prospect of citizenship in an EU country. The investor and his family are entitled to apply for Portuguese citizenship after 5 years of holding a residence permit card. The passport gives even more opportunities for travel: the Portuguese visit 187 countries without visas, including the US, Canada, the UK and Australia.
Opportunity to do business in a European country, receive income from the rental of real estate, keep capital in European banks.
Tax optimisation. A new resident of Portugal can get a tax holiday for 10 years and a special tax status of Non-habitual resident.
Immigrant Invest is a licensed agent of the residence permit program in Portugal. If you want to move to Portugal or travel to the Schengen countries without a visa, contact investment program experts for advice.