LCR Analysis of SEF Statistics | September 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.


Since creation

Between the creation of the program in October 2012 and September 2023, Portugal has issued a total of 12,718 Golden Visas, with 5,399 going to investors from China, 1,239 from Brazil, 781 from the United States, 589 from Turkey, and 547 from South Africa, the top five nationalities to receive the Golden Visa over its ten-year history. Another 4,163 visas went to investors from other countries. Since its start, the program has invested almost €7.3 billion in Portugal’s economy.

As of September 2023, the program has not only issued 12,718 investor visas since the start of the program but also benefited 20,424 additional family members.

September 2023

Visas Issued in September

September 2023 totals were significantly higher than those from August 2023. In September, Portugal issued 157 Golden Visas (an increase of 273.8% from August), and visa recipients invested €70,895,742.39 in the Portuguese economy (an increase of 115.9% from the previous month).

In September 2023, the top five nationalities to receive the Portugal Golden Visa were investors from the United States (40), China (24), South Africa (13), India (12) and Brazil (10). India is ranked among the top five nationalities to receive the Portugal Golden Visa for the fourth time this year.

Investment Modalities

Of the 157 Golden Visas that Portugal issued in September 2023, 99 were for investors in real estate (49 new properties and 50 real estate rehabilitations), and 57 were for investors who made capital investments (1 capital transfer, 3 scientific research contributions, 50 investments in the venture capital/investment funds modality, and 3 investments in a business that creates a minimum of 5 jobs), and 1 was for job creation. The 99 real estate acquisitions added approximately €50 million to Portugal’s economy, and the 57 capital investments totaled approximately €20.8 million, for a total investment of €70,895,742.39 in September.

Final Considerations

Overall, September was a great month for the program, continuing to show investors’ preference for real estate over the capital investment modality. The business investment modality that creates a minimum of 5 jobs and the scientific research contributions uniquely appeared in September with three investors for each.

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