LCR Analysis of SEF Statistics | October 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.

sef-window-lisbonSince its start, the program has invested approximately €6.6 billion in Portugal’s economy. In the ten years between the creation of the program in October 2012 and October 2022, Portugal has issued a total of 11,263 Golden Visas, with 5,209 going to investors from China, 1,148 from Brazil, 534 from Turkey, 495 from the United States, and 483 from South Africa, the top five nationalities to receive the Golden Visa over ten years. Another 3,394 visas went to investors from other countries.

As of October 2022, the program has not only issued 11,263 investor visas since the start of the program in 2012 but also benefited 18,479 additional family members.

Number of Visas Issued in October

October 2022 totals were lower than those from September but still higher than August 2022. In October, Portugal issued 83 Golden Visas (a decrease of 30% from September), and visa recipients invested €44,315,501.87 in the Portuguese economy (a decrease of 34% from September).

In October 2022, the top five nationalities to receive the Portugal Golden Visa were investors from China (15), the United States (12), Brazil (11), South Africa (9), and India (5).

Investment Modalities

Of the 83 Golden Visas that Portugal issued in October 2022, 71 were for investors acquiring real estate (44 new properties and 27 real estate rehabilitations) and 12 were for investors who invested in capital investments (1 capital transfers, 1 cultural heritage contribution, and 10 investments in the venture capital/investment funds modality). The 71 real estate acquisitions added approximately €39 million to Portugal’s economy, and the capital investments totaled approximately €4.7 million, for a total investment of €44,315,501.87 in October.

Final Considerations

In October, investors acquired fewer real estate properties than in August (71 vs. 100). Overall, October was a good month for the program, continuing to show investors’ preference for real estate over the capital investment modality. The cultural heritage contribution investment modality uniquely appeared in October, with one investor.

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