Portugal’s Golden Visa Program continues its success in 2020. Against all odds, the Portugal Golden Visa Program generated almost half a billion euros in the first eight months of 2020. Most businesses report losses due to Covid-19. Yet, Portugal’s Golden Visa scheme is set to exceed last year’s performance. If the performance of the program continues until the end of the year, the revenue will reach EUR 745 million. Compared to 2019, EUR 745 million is a marginally higher revenue per year.
Slight Increase in August is a Good Sign
As 2020 slowly comes to an end, interested parties await the remaining performance of the Portugal Golden Visa Program. If the program manages to sustain its current performance, it will exceed 2019’s numbers. To predict the numbers at the end of 2020, looking at the last months is crucial. According to Portugal’s Borders and Immigration Service (SEF), August saw a slightly increased interest when compared to July. In July, the program generated EUR 56 million. In August, the investment made in the program increased to EUR 57.7 million. This information is read by many as a good sign that Portugal’s Golden Visa program will exceed last year’s performance.
Chinese Investors Have the Biggest Share in the Investor Nationality Statistics
The first eight months of 2020 have been a success for the Portugal Golden Visa Program. The SEF’s reports suggest that the program granted 915 residence permits to main applicants. These main applicants had 1,640 dependents who also received their residence permits.
The nationality ratio of these successful applicants follows the general trend of the program. Chinese individuals constitute the largest share with 24%. Brazilians follow them with 11.5%. The rest of the top five is constituted by Turkish, Russian, and South African investors with 6% each.
The SEF does not report on other nationalities which remain outside the top five. However, the share of the category of “other” consistently increases. In 2020, the top five nationalities constituted around half of the total investments. Since the beginning of the program in 2012, this is the highest performance recorded by “other” nationalities.
Non-Conventional Investment Routes of the Program Attract Interest
For most of its lifespan, Portugal’s Golden Visa program mostly received investments through its EUR 500,000 real estate investment route. Until 2017, more than 90% of all the investments were made in the main route. Currently, the ratio came as far down as 65%. EUR 350,000 property investment and the investment fund options are especially on demand. The investment fund option quadrupled its performance in the last year.