LCR Analysis of SEF Statistics | December 2022

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.



2022 was a great year for the Portugal Golden Visa program. The number of visas issued increased by 40% (2,864 vs. 2,035)  , and the total amount invested increased by 42% (€654,292,327.91 vs. €460,616,183.84). There were also big changes in the top five nationalities that received residence permits from the program in 2022. The United States replaced China as the top country of origin in the number of visas issued, and India and the UK entered the top five for the first time, replacing South Africa and Russia.

top-5-countries-portugal-golden-visaSince creation

Between the creation of the program in October 2012 and December 2022, Portugal has issued a total of 11,535 Golden Visas, with 5,247 going to investors from China, 1,168 from Brazil, 546 from Turkey, 537 from the United States, and 507 from South Africa, the top five nationalities to receive the Golden Visa over its ten-year history. Another 3,530 visas went to investors from other countries. Since its start, the program has invested almost €6.7 billion in Portugal’s economy.

As of December 2022, the program has not only issued 11,535 investor visas since the start of the program but also benefited 18,809 additional family members.

December 2022

Visas Issued in December

December 2022 totals were higher than those from November 2022. In December, Portugal issued 151 Golden Visas (an increase of 24% from November), and visa recipients invested €79,164,626.20 in the Portuguese economy (an increase of 20% from November).

In December 2022, the top five nationalities to receive the Portugal Golden Visa were investors from China (25), the United States (24), the United Kingdom (21), South Africa (14), and Brazil (10).

Investment Modalities

Of the 151 Golden Visas that Portugal issued in December 2022, 105 were for investors acquiring real estate (65 new properties and 40 real estate rehabilitations) and 46 were for investors who made capital investments (4 capital transfers, 41 investments in the venture capital/investment funds modality, and 1 investment in a business that creates a minimum of 5 jobs). The 105 real estate acquisitions added approximately €60 million to Portugal’s economy, and the capital investments totaled approximately €19 million, for a total investment of €79,164,626.20 in December.

Final Considerations

In December, investors acquired more real estate properties than in November (105 vs. 95). Overall, December 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 uniquely appeared in December, with one investor.

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