Interdean Comment on Portugal’s Golden Visa Scheme

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An initiative such as Portugal’s golden visa scheme can be important in helping to encourage wealthy investors to move to Portugal.

(PRWEB UK) 27 December 2013

A recent report published by the Guardian has highlights the possible benefits of Portugal’s golden visa scheme. The scheme, which introduced in October 2012, was implemented in an attempt to increase VAT revenue. The initiative states that foreigners who purchase property worth over 500,000 Euros can qualify for a visa to Portugal and the European Union which lasts five years. The purchasing of property is not the only method of qualifying for a visa. The scheme also allows those who make an investment of over 1 million Euros or provide 10 new jobs in Portugal can also qualify individuals for the five-year visa.

According to the Guardian, the Portuguese foreign ministry has granted 356 residence permits to foreign investors, with 279 being offered to Chinese individuals, with 16 to Russians, 10 Brazilians, and 9 Angolans. The Guardian reports that this means that approximately 222 million Euros has been invested into Portugal in total.

Portugal isn’t the only country to implement such a scheme to fill homes and prevent a drop in investment, with countries such as the Netherlands, Cyprus, Greece, and Spain all implementing similar initiatives.

With offices in a range of worldwide destinations including Portugal, Interdean provide an extensive range of services tailored to those who are moving to Europe. The specialists at Interdean closely follow news and developments which could affect those looking to move to these destinations so a representative for the firm commented on this recent report into Portugal’s golden visa scheme:

“An initiative such as Portugal’s golden visa scheme can be important in helping to encourage wealthy investors to move to Portugal in order to help boost the economy, create jobs, and fill vacant homes. Wealthy investors have much to offer countries such as Portugal, Greece and Cyprus, as well as other countries which have implemented similar schemes, and initiatives such as these can be important for the country involved.”

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