Recently, Forbes magazine in the United States selected the "Seven Best Options for Obtaining European Citizenship," with Portugal ranking sixth due to its renowned "Golden Residence" program, surpassing its neighbor Spain. Cyprus, Greece, and Latvia occupy the top three positions. Among the many advantages of Portugal, Forbes particularly emphasized the golden residence policy, which allows for the purchase of properties over 30 years old for €350,000 or properties valued at €500,000 or more.
According to data released by the Portuguese government, the "Golden Visa" program has been relatively successful in recent years. As of March this year, the government has issued nearly 7,300 visas to overseas investors, providing them with residency rights and significant tax incentives. The vast majority of applicants have obtained this visa by purchasing properties priced at €500,000 or more.
At the same time, Chinese citizens represent the largest investment group in Portugal's "Golden Visa" program, accounting for over 50% of all applicants. Knight Frank has stated that factors such as a robust economic foundation, affordable housing prices, and low living costs make Lisbon a preferred destination for international investors, developers, and tourists. As shown in the chart below, Brazilians, who make up 12% of applicants, are the second largest group, followed by Turks, South Africans, and Russians. Overall, Brazilians have secured 10% of the golden visas, while the top five other countries account for between 3.5% and 4.5%.
In the first half of 2019, the Portuguese Border and Immigration Services issued golden visas to 421 main applicants and 766 family members, with Chinese applicants accounting for nearly one-third, remaining the largest source country for applicants. However, the diversity of source countries for Portugal is increasing, and with institutions now clearly stating that citizenship can be obtained through this program, Portugal may soon experience another surge in applications.