LCR Analysis of SEF Statistics | June 2023

The Portugal Golden Visa is an investor visa program that benefits individuals and families, providing them the right to live, work, study, and/or retire in Portugal and the European Union. The program also opens a gateway to Portuguese citizenship for investors and their families.

sef-analysis-june 2023

Since creation

Between the creation of the program in October 2012 and June 2023, Portugal has issued a total of 12,396 Golden Visas, with 5,366 going to investors from China, 1,212 from Brazil, 713 from the United States, 584 from Turkey, and 525 from South Africa, the top five nationalities to receive the Golden Visa over its ten-year history. Another 3,996 visas went to investors from other countries. Since its start, the program has invested almost €7.1 billion in Portugal’s economy.

As of June 2023, the program has not only issued 12,396 investor visas since the start of the program but also benefited 20,000 additional family members.

June 2023

Visas Issued in June

June 2023 totals were slightly lower than those from May 2023. In June, Portugal issued 179 Golden Visas (a decrease of 0.55% from May), and visa recipients invested €79,886,635.30 in the Portuguese economy (a decrease of 3.79% from the previous month).

In June 2023, the top five nationalities to receive the Portugal Golden Visa were investors from the United States (47), the UK (26), China (17), India (14) and Turkey (13). After 15 months in the top 1 or 2, China has fallen to 3rd place, surpassed by the UK as number 2. In addition, India has appeared again between the top 5 this year (as well as in February and May).

Investment Modalities

Of the 179 Golden Visas that Portugal issued in June 2023, 114 were for investors acquiring real estate (63 new properties and 51 real estate rehabilitation), and 65 were for investors who made capital investments (3 capital transfers, 5 scientific research contributions, 1 cultural heritage contribution, 54 investments in the venture capital/investment funds modality and 2 business investments that created minimum five jobs). The 114 real estate acquisitions added approximately €54.7 million to Portugal’s economy, and 65 capital investments totaled approximately €25.1 million, for a total investment of €79,886,635.30 in June..

Final Considerations

In June, investors acquired more real estate properties than in May (114 vs. 110). Overall, June was a great month for the program, continuing to show investors’ preference for real estate over the capital investment modality.

Latest update on the program

In June, the Portuguese Parliament has received a draft proposal to make important changes to this program. The current law is valid for new applications until the new law is approved, signed by the president, and published in Diario da Republica.

If the latest proposal is approved and becomes law, it would grant Golden Visas in categories such as investment in venture capital and investment funds, cultural heritage/artistic production, and scientific research, as well as a direct business investment that creates jobs. The new law would remove real estate purchases (both residential and commercial) as well as capital transfers from the list of eligible investments for the Portugal Golden Visa program.

We look forward to obtaining the next update when available on the current status of the Portugal Golden Visa program, which is scheduled for a vote on July 19, 2023. We urge those of you that are interested in the program to contact us as soon as possible should you wish to apply under the current regulations.

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