The Golden Visa Programme was launched by the Portuguese Authorities in October 2012 with the aim of supporting foreign investors in their efforts to obtain a fully valid residency permit in Portugal. The Golden Visa allows non-EU citizens to enter or live in Portugal and to travel within the Schengen space, provided they carry out one of the investments outlined in the law. The investments that qualify for the Golden Visa programme include transfer of funds above EUR1,000,000 or more, acquisition of property in the amount of or greater than EUR 500,000 and, finally, the creation of at least 30 jobs in Portugal, according to the Golden Visa official website. Note that only investments made after 8th of October 2012 are taken into consideration to avail of the fully valid residency permit.
One of the most favourable residency programs for investors worldwide, the Golden Visa is aiming to encourage foreign investment in Portugal and boost the country's declining economy after the disastrous 2008 financial crisis. According to Portugal's government spokesman Luis Marques Guedes, Portugal is benefitting greatly from investments from other countries, taking into consideration the 1.46 billion Euros in investment the country has received since the Golden Visa scheme was introduced.
It seems like this is a win-win situation for the country's economy and the foreign investors, as they are both benefitting from the opportunity of purchasing property in Portugal. Golden Visas are valid for 5 years and are an amazing opportunity for foreign investors to penetrate the real estate market of the beautiful Portuguese lands. With lively Lisbon and charming Algarve being the country's most popular destinations, people from around the world would fancy the idea of owning an estate either on the coast or in the city.