Portugal's golden visa investment more than doubled from January to July

Source:Xinhua Published: 2016/8/24 8:40:54

Golden Visa investment in Portugal more than doubled, totalling 571 million euros from January to July this year compared with the same period last year, according to the Portuguese Foreigners and Border Service (SEF) on Tuesday.

In July alone, a total of 106 visas were granted, of which 104 for buying property, one for capital transfer and another for creating a minimum of 10 jobs.

Since the Golden Visa program was first introduced in October 2012 amid the economic crisis in Portugal, a total of 3,715 have been granted.

The Golden Visa program gives wealthy investors the chance to reside in Portugal as well as visa-free travel in the Schengen zone if they purchase real estate worth 500,000 euros, invest 1 million euros in capital, or create at least 10 jobs in the country.

Chinese continue to lead in the program by obtaining 2,790 visas, followed by Brazilians 188, Russians 132, South Africans 117 and Lebanese 58. (1 euro = 1.13 US dollars)

Posted in: Economy

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