Portugal Golden Visa on the verge of reaching 10,000 investor milestone in the third quarter
Portugal’s Golden Visa Program performed incredibly great in the first two quarters of 2021, giving a renewed hope for groundbreaking achievements somewhere in the third quarter.
The two-quarter success could be attributed to the ongoing rebound in Chinese uptake that has been on a flopping trend since 2015.
More attention was diverted to Greece, resulting in 75% Chinese participation in the country as their participation in Portugal diminished gradually.
In terms of the number of nationals participating in Portuguese investment visas, America is among the top five countries with a significant share in the program. The presence of Americans in the program has been consistently increasing since August 2019, boosting the overall outcome.
The program’s promising performance in January and February has ramped up the FDI for the first two months to a whopping 85 million euros. The amount was spread over 155 individual investments, with each approved applicant injecting an average capital of EUR 548 000.
With such a spectacular performance within the first two months, the program is speculated to hit the 10,000 investor milestones sooner than expected, a feat that Portugal will likely celebrate at the same time in the third quarter of 2021, barring any kind of black swan event.
From 135 families and 100 investors in February 2021, the program raised a stunning EUR 52.3 million, resulting in a 58% month-on-month uptake and 82% in approvals.
The high February performance can be attributed to a significant share of applicants opting for a cheaper investment alternative in February than in January, while 75% of the applicants preferred EUR 500 000 conventional property investment in the first month (January).
Considering that February is 11% lesser in days than January, the record-breaking performance is by far encouraging. The February performance presents a 43% improvement in the same month’s performance last year (2020).
This comes as the number of people opting for the EUR 350,000 investment fund continues to skyrocket beyond last year’s demand. So far, this investment fund option has seen an 8% increase in 2021 from the 4% in 2020 and a 0.6% in 2019.
Even though it might be early to conclude this year’s performance, the incredible performance in the first two months is a good start towards achieving the 10,000 investor milestone in the third quarter.
And with the situation shifting in favor of Portugal’s investment visa program, more impressive performance is expected in the future.