The Golden Visa of Portugal
The Golden Visa Program for Portugal was created in 2012. Its favorable terms and conditions attract numerous people from all over the world. In Portuguese, it is called Autorização de Residência para Atividade de Investimento (ARI).
It was created to encourage non-EU/EEA citizens to invest in the country. In Portugal, it has been well-managed and supported by the political parties. This implies it is free of the problems that the OECD and EU face with other RBI and CBI initiatives.
The Golden Visa program had issued residence permits to nearly 27,000 persons as of April 2021.
As a result of the program's investments, Portugal was able to credit nearly €5.82 billion.
Some interesting information regarding the program (up to April 2021):
• There were 9,715 primary applicants and 16,495 family members that submitted applications.
• Brazil, China, Russia, Turkey, South Africa, and the United States are the top countries.
• The majority of applications are for the purchase of the real estate.
• Inquiries from UK citizens have risen considerably after BREXIT.
The large influx of capital has been positively welcomed. The concentration in specific locations, though, has raised concerns. To remedy this, significant improvements to the program will be implemented in January 2022, and we'll go through all the details in another article.