2020 started with a global pandemic. The catastrophe of Covid-19 caused many sectors to stagnate. Investor immigration models also took their share of damage from the crisis. The Portugal Golden Visa Program is one of the most successful residency by investment schemes around. Still, even the most successful ones suffered in the first third of 2020. However, May came with a vengeance. The Portugal Golden Visa Program generated in May more than it had generated in the previous four months combined. In total, the program caught up to its average pre-pandemic performance.
May 2020 Performance with Numbers
The Portugal Golden Visa Program routinely performs great. Yet, the first months of 2020 experienced an unprecedented health crisis. Due to the hindrances of the pandemic, the program lost a fair share of investor activity. In the first 4 months of 2020, the program received 147.7 million euros. This amount is accumulated by 259 applicants. These numbers are considerably lower than the usual stats of the program.
Portugal’s SEF (Immigration and Borders Service) recently published the report for the program’s performance for May 2020. The report shows how well the Portugal Golden Visa Program compensated for the first third of 2020. According to the SEF’s numbers, the program received 146.2 million euros of investment in May alone. Furthermore, in May, the applicant number exceeded the first months combined. May brought 270 new investors for the scheme. This performance points out to another incredible statistic. 146.2 million euros in May shows a 409 percent increase month on month. It means that the program performed 4 times better than it did in April 2020. Year on year comparison also indicates a boost. The comparison between May 2019 and May 2020 shows an impressive 192 percent increase.
Who is Responsible for the Boost in May 2020?
The Portugal Golden Visa Program receives investment from a wide variety of non-EU country citizens. Usually, Chinese, Brazilian, and Turkish investors lead the lists. May 2020 also benefited from the interest from these countries with a few additions. 68 of 270 applicants who received Golden Visas in May were Chinese. In April, only 15 Chinese investors received Golden Visas.
Predictably, Brazilian investors followed the Chinese. 30 Brazilian investors obtained the Portugal Golden Visa in May 2020. In April, however, the number of Brazilian investors who received Golden Visas was 9. Turkish investors went down to the 4th spot by receiving 17 Golden Visas. American and Indian investors shared the 3rd spot with 19 investors each.