Chinese continue to lead Golden Visa scheme

By TPN/Lusa, in News · 12-03-2015 14:24:00 · 0 Comments
Chinese continue to lead Golden Visa scheme

Chinese citizens continue to lead real estate investments in Portugal under the ‘Golden Visa’ scheme, which registered 103 residency authorisations in February, the Portuguese real
estate company and professionals association (APEMIP in the original Portuguese) said earlier this week.

Latest data shows that under the Golden Visa programme, 1,777 Chinese have purchased a house in Portugal for at
least €500,000 since 2012, followed by 74 Brazilian investors and 70 Russians.
Out of the 2,203 Golden Visas issued since 2012, 2,088 were as a result of buying a house, 113 for capital transfers and three for creating at least ten jobs.
The APEMIP president, Luís Lima, acknowledged the impact of a recent police investigation into the allovation of the visas but noted that the question had not had “dramatic consequences”.

“Naturally there was some fall out as the media impact of this scandal was brutal, but the consequences were not as dramatic as (people) spoke about”, referring to a police operation that took down a corruption ring which allegedly involved state department bosses.
In related news, it has emerged that Portugal attracted the third largest amount of Chinese real estate investment in 2014, behind the United Kingdom and Spain, the monthly magazine, News China reported in its latest edition.
Portugal also makes it onto the top ten of global destinations otherwise led by English language-speaking countries with the United States trailed by Australia and Canada, at the top.
The United Kingdom makes fourth spot and is then followed by New Zealand, Thailand, Spain, Portugal, Singapore and Malaysia.
The magazine’s 2013 report had placed Portugal in 11th place, behind Cyprus and Germany who did not make it onto this year’s top ten.
In reference to the golden scheme, the magazine states that around 85 percent of all property sales taking place under its auspices went to Chinese citizens.
News China concludes that there remains a rising tide of Chinese citizens seeking properties and corresponding residency permits in Europe and North America.



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