Worldway Immigration Comprehensive Report: According to reports from the Portuguese-Chinese newspaper, if you mention Fosun or Anbang to Europeans, the vast majority would likely shrug, having never heard of them. However, as these two Chinese companies with voracious acquisition appetites snap up assets in the European financial services sector, this situation may be about to change. The current main battlefield is Portugal, where China has become the largest source of foreign direct investment. This has further fueled the boom in Chinese investors seeking immigration through investment in Portugal.
By the end of June, Fosun International and Anbang Insurance are expected to submit the highest final bids for the acquisition of Novo Banco, the third-largest bank in Portugal by assets. The acquisition of Novo Banco, valued at over 4 billion euros, would be equivalent to more than 2% of Portugal's Gross Domestic Product (GDP). It is almost certain that this will make Portugal the top destination for Chinese investment in the European Union (EU) this year.
Since the outbreak of the Eurozone debt crisis in 2011, Chinese investment in Portugal has reached nearly 6 billion euros. If the 4.4 billion euros invested in Petrogal Brasil (part of the Portuguese Galp Energia group) is included, the total investment exceeds 10 billion euros. Last year, Fosun invested 1.7 billion euros to acquire an 80% stake in the Portuguese insurance company Fidelidade. Subsequently, Fidelidade acquired the private hospital operator ES Saúde, which was previously owned by the Espírito Santo group. It also acquired a 5% stake in the Portuguese national power grid (Redes Energéticas Nacionais).
Sources familiar with the matter say that Fosun and Anbang are now locked in a race to acquire Novo Banco, with their bids exceeding those of other competitors, including Spain's Santander, the U.S. private equity group Apollo Global Management, and Cerberus.
For Chinese bidders, another attraction of Novo Banco is that the bank holds a 9.7% stake in Angola's Banco Económico. Angola is an oil-rich country that also attracts significant Chinese investment. As part of the bailout plan, Novo Banco received 4.9 billion euros in new capital from the Portuguese Bank Resolution Fund.
Worldway Immigration experts point out: The "competition" among Chinese enterprises in Portugal shows that Chinese companies are full of confidence in the Portuguese economic situation. In recent years, Portugal has successfully emerged from the debt crisis, and its economic recovery momentum is strong, which Chinese companies see as a huge business opportunity. Echoing corporate investment is the investment enthusiasm of individual Chinese investors, especially in real estate immigration. Since the Portuguese government implemented the "Golden Residence Permit Program" in October 2012, 1,909 Chinese investors have obtained Portuguese immigration status by purchasing at least 500,000 euros worth of real estate, accounting for 80% of the total number of approvals by the Portuguese Immigration and Borders Service (SEF). The massive entry of Chinese enterprises into Portugal is bound to continue to drive Chinese investors to invest in real estate in the country.
As a high-value project for individual investment immigration, Portuguese real estate immigration is recognized by the industry as a highly cost-effective immigration program due to its investment price advantage, lower application threshold, ease of naturalization, and the ability to work locally while bringing both spouses' parents and children to benefit the whole family. Worldway Immigration experts state that purchasing 500,000 euros worth of Portuguese real estate allows for rapid immigration to Portugal, and one can apply for naturalization after holding a valid residence permit for 6 years. One person applies, the whole family immigrates, and enjoys EU welfare benefits. Portugal Investment Immigration Consultation: 400-138-2929
