The Portugal Golden Visa programme has seen tremendous success since its launch in 2012, with over €7bn of inward investment from HNW investors into the country’s economy. Much of this investment was coming from American investors as the US had become the largest source country for those seeking a second residency in Portugal. However, in 2023 the Portuguese government made a decision based on ideology rather than sound economic principles, and effectively ended any golden visa investment in real estate from October of that year.
Paul Williams, CEO and Founder of La Vida Golden Visas, one of the largest Investment Migration Consultants offering golden visa options throughout Europe, commented: “Our clients are having to take far more time in considering the new Portugal options. They now have to understand the merits of Private Equity investment in an international context in order to gain residency, as opposed to real estate which is far simpler for the average investor. This immediately puts up barriers to clients familiar with real estate, stocks and shares, but unfamiliar with a more complex, riskier and less liquid investment class.”
As a result of the changes to the Portugal Golden Visa programme, other European options have begun to soak up the demand, with La Vida offering a commercial investment for the Spanish Golden Visa which effectively reduces the investment from €500,000 to €350,000. The Greek Golden Visa has also had tremendous success and now attracts over 7500 main applicants a year, with over half of them coming from China. Meanwhile, Hungary has announced its new golden visa programme starting in 2024.
Paul Williams concluded: “We’ve seen huge growth in investment migration in the last 10 years. The market is still growing strongly and we expect it to continue into 2024 with further double digit growth. When demand is there suppliers will fill the gap. We see a healthier market with more rounded choice for our clients going forward in Europe and look forward to an exciting year ahead.”
The Portugal Golden Visa programme has experienced great success since its launch in 2012, bringing in over €7bn of inward investment into the country’s economy. However, in 2023 the Portuguese government made the decision to end any golden visa investment in real estate, resulting in other European options beginning to soak up the demand.
Paul Williams, CEO and Founder of La Vida Golden Visas, commented: “Our clients are having to take far more time in considering the new Portugal options. They now have to understand the merits of Private Equity investment in an international context in order to gain residency, as opposed to real estate which is far simpler for the average investor. This immediately puts up barriers to clients familiar with real estate, stocks and shares, but unfamiliar with a more complex, riskier and less liquid investment class.”
La Vida is now offering a commercial investment for the Spanish Golden Visa, which reduces the investment from €500,000 to €350,000. The Greek Golden Visa has also been a great success, attracting over 7500 main applicants a year, with over half coming from China. Hungary has also announced its new golden visa programme starting in 2024.
Paul Williams concluded: “We’ve seen huge growth in investment migration in the last 10 years. The market is still growing strongly and we expect it to continue into 2024 with further double digit growth. When demand is there suppliers will fill the gap. We see a healthier market with more rounded choice for our clients going forward in Europe and look forward to an exciting year ahead.”
Since its launch in 2012, the Portugal Golden Visa programme has seen great success, bringing in over €7bn of inward investment into the country’s economy. However, in 2023 the Portuguese government made the decision to end any golden visa investment in real estate, resulting in other European options beginning to take advantage of the demand shift.
Paul Williams, CEO and Founder of La Vida Golden Visas, commented: “Our clients are having to take far more time in considering the new Portugal options. They now have to understand the merits of Private Equity investment in an international context in order to gain residency, as opposed to real estate which is far simpler for the average investor. This immediately puts up barriers to clients familiar with real estate, stocks and shares, but unfamiliar with a more complex, riskier and less liquid investment class.”
As a result, La Vida is now offering a commercial investment for the Spanish Golden Visa which reduces the investment from €500,000 to €350,000. The Greek Golden Visa has also had tremendous success, attracting over 7500 main applicants a year, with over half coming from China. Meanwhile, Hungary has announced its new golden visa programme starting in 2024.
Paul Williams concluded: “We’ve seen huge growth in investment migration in the last 10 years. The market is still growing strongly and we expect it to
Derick is an experienced reporter having held multiple senior roles for large publishers across Europe. Specialist subjects include small business and financial emerging markets.