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What's happened? According to official statistics, 64 golden visas were issued by the authorities of Portugal in August 2023, 42 of which were for the acquisition of real estate.
About the income. The residence by investment program has brought in more than €32.8 million to Portugal last month. However, these figures were 12.5% lower than those recorded in the same month last year. Between January and August this year, the scheme generated more than €493 million, or 24 % more than those registered in the same period last year.
Who are the main holders? A total of 12,561 residence permits were issued between October 2012 and August 2023. The main beneficiaries were the citizens of the following countries:
• China 5,383,
• Brazil (1,246)
• USA (741)
• Turkey (603)
• South Africa (561)
Context. The Portuguese authorities are trying to make new changes to the Golden Visa program. We remind that in July the bill had been approved by the Parliament, which also suggested canceling residence permits for investments in real estate.
However, such changes required the approval of the Portuguese President Marcelo Rebelo de Sousa, who had rejected the new law and returned the document for revision.
The parliament will now have to finalize it, which will take at least another month.
Source: Schengen Visa Info
Photo by Diego García on Unsplash
