Despite total investment falling by more than 11 percent in 2019 as compared to the previous year, Portugal still netted more than €740 million from wealthy foreign investors applying to its golden visa program.
In all, Portugal issued 1,245 golden visas to investors and more than 2,000 visas to their dependent family members.
While annual investments fell year-on-year, the last quarter of 2019, especially the month of October, saw a healthy 24 percent jump in month-on-month demand for the golden visa.
As has been the historical trend, the majority of investors preferred to put money into real estate.
Candidates generally chose to invest €500,000 or more into residential real estate in either Lisbon or Porto.
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The content of this article reflects the personal insight of Attorney Colin Singer and needs no disclaimer.