The Portuguese Real Estate Association stated that since Portugal launched the "Golden Visa" program for residence permits through property investment a year and a half ago, it has attracted £300 million (approximately 3.07 billion RMB) in foreign investment. The association expects that foreign investment through the Golden Visa program will see a sharp increase in 2014. Reports indicate that the Portuguese government will attract £410 million (approximately 4.19 billion RMB) in foreign investment this year through the Golden Visa program, and the Portuguese Real Estate Association anticipates that this figure will be even larger.
In October 2012, the Portuguese government officially launched the Golden Residence Visa program, allowing non-EU citizens to obtain residence rights in Portugal by purchasing real estate worth €500,000 (approximately 4.2 million RMB) or more, attracting numerous entrepreneurs and investors, including wealthy individuals from China, to apply.
So far, 542 foreigners have obtained residence permits in Portugal through the Golden Visa program, the majority of whom are Chinese. Portugal is not the only country within the EU with a similar visa program to attract foreign investment, but Portugal's Golden Visa program has been particularly successful.
