On October 7, a publication by the Portuguese Agency for Investment and Foreign Trade featured an article by Peter Wise, the Lisbon correspondent for the Financial Times, which gave a positive assessment of the consecutive successes of Chinese companies in Portugal's privatization bids in recent years. The article points out that, like other Eurozone countries mired in economic crisis, Portugal was forced to sell government shares in various public sector enterprises. The privatization was a complete success, raising over 90 billion euros for the treasury, nearly double the target set by the government and the "Troika." Among these, investments from Chinese companies accounted for a 45% share, becoming the primary source of direct investment and playing a key role in the successful implementation of the privatization.
Meanwhile, Chinese individual investors are making a significant contribution to the Portuguese economy by purchasing properties worth over 500,000 euros to obtain immigration status through the Portugal Golden Residence Permit Program. Since the Portuguese government launched the policy for non-EU residents to obtain residency through investment in 2012, as of July this year, Portugal has successfully attracted 817 million euros (approximately 6.5 billion RMB) in foreign investment. Chinese investors account for 80% of this total.
Worldway European immigration experts analyze that the reasons for the Chinese enthusiasm for Portugal's property-based immigration include the application thresholds, approval procedures, and processing cycles. Applications for Portuguese immigration are approved within 2 months, with an initial 1-year residence permit issued, followed by renewals every two years, and the option to convert to permanent residency after 5 years. Citizenship can be applied for after 6 years of legal residency (5 years holding a temporary residence permit and 1 year holding a permanent residence permit). In addition, the Portugal Golden Residence Permit Program stipulates that investors only need to reside for a cumulative 7 days in the first year after obtaining the investment visa, and a cumulative 14 days every two years thereafter, making it the country with the lowest residency requirements among all EU member states to date. Furthermore, Portuguese immigration benefits three generations: the main applicant and their parents, spouse and their parents, and minor children can all apply for immigration together, truly realizing the benefit of one person applying for the whole family. After the Portuguese immigration application is approved, one can freely work and conduct business, and children can enjoy free public education.
As an authoritative institution promoting property-based immigration to Portugal in China, Worldway provides clients with immigration and settlement services, including property management and facility management, through its independent customer service center in Portugal. Consultation hotline: 400-138-2929
