Non-European citizens buy apartments in Portugal to get “golden visa”

5 December 2013

The Tróia Resort company, of Portuguese group Sonae Capital, has sold 57 holiday apartments on the Tróia peninsula, most of which to non-European citizens, said the company’s managing director João Madeira.

In an interview with the “Grandes Negócios” (Big Business) programme on the Económico.TV television channel, Madeira said that most of the 57 units sold, 30 of which in the third quarter of this year, had been bought by people from outside the EU, attracted by the “golden visa” programme launched recently by the Portuguese government.

This programme offers citizens from non-EU countries a visa to reside in Portugal and, as a result, in Europe, as long as they invest at least 500,000 euros in assets in Portugal.

The managing director of the Tróia Resort said that the target was to reach a total of 300 units sold by the end of the year.

Last October Portugal’s consul-general in Macau, Vítor Sereno said that Chinese citizens were the main nationality to have received “golden visas” issued by Portugal accounting for 168 of a total 226 granted so far.

The diplomat also said that of a total of around 106 million euros that had been invested by Chinese citizens in Portugal through the scheme, 30 to 35 percent were from Macau and Hong Kong. (macauhub)