Expert Chaslau Koniukh
  • Companies
  • Global investment
  • Investors
  • Terminology
  • Economy
  • Stock Market
  • World exchanges
  • Tech and Marketing
Golden Visa
Economy

The Golden Visa program has brought Portugal more than 6 billion euros during its existence

26.01.2023
2 min read

Golden Visa: a lucrative budget item for Portugal

According to statistics, the program Golden Visa for 10 years of existence has brought the Portuguese economy 6.5 billion euros. Investment in the real estate market of this amounted to 5.87 billion euros. During this time a total of 11,189 residence permits were issued to program participants and 18,368 – for the members of their families.
50% of applicants with Golden Visa are citizens of China, and in second place – are Brazilians. Also, Portugal has become a popular country for citizens of Turkey, Canada, South Africa, and the United States to obtain a residence permit in exchange for investment.
At the same time, the government plans to close the program, arguing its decision because it has already fulfilled its function. In addition to the Golden Visa, other visa schemes for foreigners may be abolished. So far, the Portuguese authorities are only considering the option of abolishing the residence permit in exchange for investment, assessing the feasibility of the program in the future. However, the government stresses that the country will continue to be attractive to foreign nationals as a place to rest and invest money. As part of this, a law regulating the issuance of visas for digital nomads was passed last year. According to it, foreigners who work remotely and have a high level of monthly income can live in Portugal for a year.Golden Visa Portugal In 2021, the rules of the Golden Visa were changed, and they came into force in January 2022. New conditions have affected a number of points of the program, for example, the minimum investment threshold has become higher. In addition, foreigners are now not allowed to purchase real estate in Porto, Lisbon, and the coastal market regions of the country. However, these changes apply only to residential properties, restrictions do not apply to the purchase of commercial premises.
In addition to real estate, the program involves investing in the research sphere in Portugal, but this option was not popular among applicants. And if before the minimum entry threshold was 350 thousand euros, now it has been raised to 500 thousand euros.
To obtain a residence permit in Portugal through the opening of a deposit in a local bank it is necessary to place 1.5 million euros. Previously, 1 million euros was sufficient. In addition, you can buy government securities for a similar amount. Investments in local venture capital funds amount to 500 thousand euros at an average yield of 3-4% per annum.
It should be noted that the Golden Visa programs, both in Portugal and in other European countries, have been criticized many times. The main argument here is the risk that various corruption schemes are implemented through the programs and money laundering takes place.

Tags: Economy
0
Previous Post Michael Steinhardt: the story of a prominent American investor Next Post Estee Lauder made a deal to buy the fashion brand Tom Ford

You Might Also Like

coal mining
Economy
Coal mining in India has increased by more than 22% in 5 years
12.09.2023
economic bottom
Economy
Latin America faces an economic bottom: analysts’ forecasts
07.05.2021
Portugal's economy
Economy
How Portugal’s economy recovered from the crisis: the country’s experience
30.08.2020
Inflation in Europe
Economy
Inflation in Europe to outpace that in the US: analysts forecast
26.06.2022
Iraqi authorities
Economy
Iraqi authorities offer foreign companies to join gas field development
10.08.2021
Latvia's GDP
Economy
What will happen to Latvia’s GDP: consequences of the Coronavirus epidemic
18.11.2020

Recent Posts

  • 1Forex drawdown
    Forex drawdown and why you shouldn’t be afraid of it
    22.09.2023
  • 2investment in Turkey's steel industry
    Yıldız increases investment in the Turkish steel industry
    20.09.2023
  • 3Abu Dhabi Exchange
    The Abu Dhabi Exchange has created ideal conditions for the IPO of an Adnoc unit
    18.09.2023
  • 4mobile marketing
    How mobile marketing helps to retain existing customers and attract new ones
    16.09.2023
  • 5E-commerce company Rakuten
    Japan’s Rakuten intends to raise funds by issuing shares
    14.09.2023

Popular Posts

  • Analysts: Egypt’s economy to continue falling in 2023
  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Field of activity of the American Monsanto Company Corporation
  • Skolkovo analysts: the Russian energy market is suffering losses

Social media

Editor's Picks

Chaslau Koniukh
Analytics

American bankers from JPMorgan and Goldman Sachs advise to invest in gold: review by Chaslau Koniukh.

Press Secretary
17.08.2020
Expert Chaslau Koniukh
Analytics

Chaslau Koniukh on the analysts’ opinion on the key stake size change soon

Press Secretary
18.06.2020
expert Chaslau Koniukh
Analytics

Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Press Secretary
30.05.2020
Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh
Analytics

Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Press Secretary
16.05.2020

Latest Posts

Forex drawdown
Forex drawdown and why you shouldn’t be afraid of it
22.09.2023
investment in Turkey's steel industry
Yıldız increases investment in the Turkish steel industry
20.09.2023
Abu Dhabi Exchange
The Abu Dhabi Exchange has created ideal conditions for the IPO of an Adnoc unit
18.09.2023

Chaslau Koniukh

Expert Chaslau Koniukh

Chaslau Koniukh – an expert in marketing and project management, IT consulting, international investments, investor, financial analyst. A commodity trader, private consultant, entrepreneur, lecturer, author of several articles on the stock market.

Popular Posts

  • Analysts: Egypt’s economy to continue falling in 2023
  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Field of activity of the American Monsanto Company Corporation
  • Skolkovo analysts: the Russian energy market is suffering losses
  • National Stock Exchange of India: an inside look
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Instagram
  • Biography

Chaslau Koniukh – an expert in marketing and project management, international investments, financial analyst.

Social media

Menu

  • Biography
  • Companies and corporations
  • Global investment
  • Investors and Entrepreneurs
  • Economy
  • Market terminology
  • Stock Market
  • World exchanges
  • Tech and Marketing
  • Analytics