Golden visas net Portugal 150 million euros of investment

7 October 2013

Granting golden visas has provided Portugal with investments of 150 million euros, the Portuguese deputy Prime Minister, Paulo Portas said in Vilamoura Saturday.

The Foreign Affairs Ministry recently said that China, Russia and Angola were the main originating countries of the people to whom golden visas and respective residency permits had been granted, followed by Brazil, the Lebanon, Pakistan, South Africa, India, Colombia, Tunisia, St. Kitts and Nevis, the United States, Ukraine, Turkey and Guinea Bissau.

At the beginning of 2013, the Portuguese government announced a new scheme to grant and renew golden visas that allows non-EU citizens, or citizens from non-Schengen countries to be granted a residency permit in order to invest in Portugal.

In order to be granted a visa, the investment carried out by an individual or company must be maintained for a period of at least 5 years, and includes transferring capital of at least 1 million euros, creation of at least 10 jobs or acquiring property worth a minimum of 500,000 euros. (macauhub)