Golden Visa programme reels in €838m for Portugal

09 Jan 2019

TravelLast year, Portugal acquired €183 million in investment through Golden Visas, according to figures released by the Foreigner and Border Service (SEF).

This is 0.6% less than the figure received in 2017, despite having issued more – a total of 1,409 in 2018.

The golden visa grants residency permits and citizenship to non-EU citizens in return for money and investment. Portugal launched the Golden Visa scheme in 2012 for wealthy foreigners who are eager to invest a minimum of €500,000 in Portugal or create 10 jobs.

A report by an anti-corruption nongovernmental organization showed that over the last decade, Portugal is among the countries which have profited the most from Golden Visa applications.

In those ten years, European countries garnered a total of €25 billion from Golden Visa applications and around 6,000 people were granted citizenship by European states, while about a 100,000 residency permits were provided in return for investments.

Berlin-based Transparency International revealed that besides Portugal, other countries that have made the most profit from the applications are Spain, Cyprus, Portugal, the United Kingdom, Hungary, Greece, Malta and Latvia.

Portugal earns around €670 million annually from the applications. Spain earns the most, with an approximate €1 billion.