Portugal Golden Visa Starts To Attract Investors

The rules, published a year ago, took some time to gain public attention, but middle-class buyers in emerging countries have certainly got the message. According to the Portuguese foreign ministry, quoted by AFP, 356 residence permits have been granted to investors, including 279 Chinese, 16 Russians, 10 Brazilians and nine Angolans.

This adds up to about €222m invested in Portugal. “It’s crazy,” says Michel Veloso Viera, a lawyer who assists foreigners with the paperwork. “I’m getting an average of 10 applications a week from Chinese families.”

Nor is Portugal the only country to be soliciting rich immigrants. Spain, Cyprus, Greece and the Netherlands have deployed similar schemes, in a bid to make up for falling investment, fill homes left vacant by the crisis and kickstart consumption.

via Guardian Weekly

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza