Chinese accounted for more than 80 percent of the so-called golden residence permits issued in Portugal up to July 31 this year, latest official data show.
Figures from Portugal’s Immigration and Borders Service (SEF) – as reported by Chinese state-run media outlet China.com – showed the Portuguese administration had approved 2,430 golden visa applications since the establishment in 2012 of the golden visa scheme. Among the residence permits issued up to July 31, 2015, a tally of 1,957, or 80.53 percent of the total, were issued to Chinese investors.
Brazil nationals made up the second-biggest group of golden residence recipients with 87 applications, according to official figures.
Portugal introduced the golden visa scheme in 2012, allowing non-European investors that spend a minimum of 500,000 euros (US$532,550) on real estate to apply for temporary residency – referred to as golden residence. Other types of investment that give access to a golden visa include a capital transfer to Portugal of at least 1 million euros or the creation of 10 jobs in the country.
The scheme was briefly suspended this year amid enforcement of a new immigration law, but the Portuguese Government passed a decree in July to reinstate the scheme.
