USA applicants lead the requests for Portugal’s Golden Visa
The Golden Visa Programme in Portugal continues to thrive, despite impending changes in the law. Interestingly, citizens of the USA have been the primary beneficiaries, securing the most visas in the month of July.
According to SEF data, a total of €57.2 million was raised through the Golden Visa programme in July. This amount reflects a 30% increase compared to the previous year, although it is 27% less than the €79.8 million recorded in June.
In terms of nationalities, the USA took the lead, with 16 permits granted in Portugal during the month of July. Following closely behind were citizens from the Philippines with 13 permits, the United Kingdom with 10 permits, and Brazil and South Africa with nine each.
It is worth noting that out of the 61 Portugal’s Golden Visas granted in July, 41 million euros were attributed to real estate acquisitions. Interestingly, 7.8 million euros were invested in urban rehabilitation projects.
On an important note, requests for the granting and renewal of residence permits for investment activities will remain unaffected by the upcoming changes in the law. Additionally, the limitation does not apply to the granting or renewal of residence permits for family reunification.
Applicants interested in obtaining a Portugal’s Golden Visa through the old rules, such as real estate investment, must submit their applications prior to the anticipated implementation of the new law.
Please don’t hesitate to reach out to us if further clarification is required.
