Chinese nationals continued to lead demand for Portugal’s Golden Visa scheme in 2021, despite a 13.6 per cent drop in investment in the first 10 months of the year.
According to the latest statistics, between January and October, Chinese investors paid out 120.2 million euros for 237 visas (or Investment Residence Permit – ARI), which compares with 260 granted in the same period last year, totalling 139.2 million euros.
In the same period, Golden Visa investment from the United States fell by more than half (51.5 per cent), to 36.6 million euros, and investment from Brazil totalled 31.4 million euros, which compares with 75.5 million euros in the same period last year.
After Russians, South Africans were the scheme’s most enthusiastic applicants, despite a drop in investment of 56.2 per cent.
The programme, which aims to attract foreign investment, was launched in October 2012, and has garnered 6 billion euros so far. Chinese, Brazilians, Turks, South Africans and Russians make up the top five Golden Visa nationalities. To date, 10,170 ARI have been awarded.
Most of the money invested goes toward the purchase of real estate, which by November amounted to 5.5 billion euros, while urban rehabilitation projects netted 350.5 million euros.
