High Net Worth individuals in Macau, Hong Kong and Shanghai are the
targets of a new campaign by Portugal to raise awareness of the
country's "golden visa" opportunity for non-EU individuals who choose
to invest in the country.
According to Portugal's consul-general in Macau, Vítor Sereno, 168 of
the visas so far issued have gone to Chinese citizens, with investors
from Macau and Hong Kong accounting for around 35 percent of a total
EUR106m of Chinese investment in Portugal that has been raised by the
scheme so far. The consulate is holding events in Macau, Hong Kong and
Shanghai in partnership with Portuguese property businesses to attract
Deputy Prime Minister Paulo Portas recently stated that the visa
programme, which was introduced earlier this year, has attracted total
investment of EUR150m. After China, the largest numbers of visas have
been granted to nationals from Russia and Angola.
In order to be eligible, an investor must either transfer EUR1m into
Portugal, create at least 10 jobs, or purchase property amounting to
EUR500,000. Successful applicants will have the right to family
regrouping, and may gain access to a permanent residence permit and
eventually to Portuguese citizenship.
A similar scheme is also in operation in neighboring Spain.
Tags: Portugal | China | Macau | Hong Kong | Expats | Immigration | Investment | Visas And Passports | Invest | Immigration | Investment