Success of "gold visas" has exceeded all expectations of the Portuguese Government

Success of "gold visas" has exceeded all expectations of the Portuguese Government

State program of issuing a residence permit of Portugal in exchange for the purchase of real estate, has attracted €307 million in 2013, twice more than it was expected by the government's most optimistic forecasts, according to ee24.com citing propertyshowrooms.com.

According to Deputy Prime Minister Paulo Portas, 471 "gold visas" were issued in 2013, mostly for citizens of China, Brazil, Russia, Angola and South Africa. "The fact that we have attracted over €300 million in investment through the so-called gold visas in just a year represents a very practical sign that Portugal is on the GPS of countries of interest to invest in", Mr Portas said.

Among the reasons why people prefer to buy houses and apartments in Portugal, Deputy Prime Minister called the warm climate, good beaches, beautiful nature, opportunities for golf and surfing, history and heritage of the country, cuisine, shopping, safety, and traditional hospitality of the Portuguese.

Recall that "gold visa", i.e. residence permit, can be obtained by purchasing one or more properties in Portugal a total value of at least €500,000.