Portugal's 'golden visas' generating wide interest in Middle East

  • Home >
  • News >
  • Portugal's 'golden visas' generating wide interest in Middle East

Portugal's 'golden visas' generating wide interest in Middle East
Reading time: 4 minutes
Published: 21st February 2019, 4:55pm

Portugal’s golden visa investment scheme attracts interest from the Middle East, India and Pakistan and China in particular.

A senior Portuguese minister has said his country’s golden visa scheme is generating wide interest in the Middle East, with Arabs and South Asians among the most common applicants.

Eurico Brilhante Dias, Portugal’s secretary of state for internationalisation, revealed that most applicants from the region come from Pakistan, followed by India and Egypt, including some living in the UAE.

The Portuguese Golden Visa scheme

The vast majority of the 6,000-plus applicants granted visas so far are Chinese with those from the Middle East taking visas numbering in the hundreds. “We have people living in the UAE but also in Pakistan and India and other countries in this region interested,” Mr Dias said. “China and the Middle East in particular.”

Twenty EU countries have such schemes. Three – Cyprus, Malta and Bulgaria – give passports to non-EU citizens. Others, including Portugal, grant residency which can lead to citizenship. In Portugal’s case, foreign nationals are granted permanent residency if they invest €500,000 in property, €1m in the economy, or create a business that employs 10 or more.

Portugal Homes has all the information about acquiring a Portuguese Golden Visa by property investment. Download our brochure to find out everything you need to know about moving to Portugal.

Our scheme is transparent,” said Mr Dias. “All money related to laundering or that could have come from a criminal source – that money is not welcome in Portugal.

Opposition parties in Portugal have also clashed with Mr Dias’s ruling Socialist Party, claiming these investors do not create enough jobs. “This is not true,” said Mr Dias. He also rejected the idea that Lisbon could develop a host of ghost houses – owned primarily by wealthy overseas who don’t live there – that denude communities of their vibrancy. “To have an empty house is not rational. I don’t know many cases like that. The large majority [of investors] are making second and third investments.” He said there are no plans to end the scheme.

Tighten Portugal connections with the UAE

The Portuguese community in the UAE numbers in the hundreds, two-way trade stands at about €500m, and scores of Portuguese companies, such as clothing firm Saccoor, operate here. Just this week, Emirates announced the launch of direct flights between Dubai and Porto. It already flies to Lisbon.

During the visit, Mr Dias visited the Expo 2020 site in Dubai, attended the Idex defence exhibition in Abu Dhabi, and met members of the Ismaili Muslim community, which is led by the Aga Khan and headquartered in Portugal. He also said Portugal could consider a visa-free travel regime for Emiratis. Currently, UAE citizens must apply for a Schengen visa in advance. “But we need to increase the trade figures,” he said. “We want more trade, more investment and a fantastic Portuguese participation in Expo 2020.

Source: The National
 

About Portugal Homes
PortugalHomes.com specializes in selling Holiday Homes and Investment Properties. We help buyers find the right property overseas whether it be for Golden VisaNHR, Investment or simply a place in the sun, our properties are selected with great thought in mind to give our clients the best opportunities, we offer the complete service from Introducing them to Legal RepresentativesCurrency ExchangeMortgage AdvisorsProperty ManagementRental and Furniture Packages along with making sure all our staff are trained to fully understand the buying process and taxes for every scenario, we provide the complete service to anyone looking to buy a new or resale property overseas for holiday use or as a short or long-term investment.

To find out more, please contact us:

28th February 2019
Investing in Lisbon As the city continues to grow in stature and the investors…
14th February 2019
  St. Valentine’s Day history begins during the 3 rd century when…

Buying Property in Portugal

Portugal Homes has very experienced and knowledgeable professionals working with some of the most established and reputable developers Portugal has to offer. Our vast experience allows us to guide you through the best investment choices.

Whether you want a holiday home or an investment property, we select the best units for your profile and take care of all the process from start to finish. Even after the sale! Our After Sales services assume the responsibility of furnishing your property at your taste, taking care of the property in your absence, managing the rentals if you wish to rent your property when you’re not in Portugal and so much more!

To learn more about the Portuguese Non-Habitual Resident Program and our After Sales services, please fill the form below.

Thanks to Andreia Leite for the comprehensive and timely updates on the construction progress of the new development we purchased!

Investor from the USA

Very helpful. Work with his heart. Mark is a very nice advisor. 

Investor from Morocco

Ryan was an excellent real estate agent, he really steered me in the right direction based on what I said was important to me. Living in another country, I wasn't as familiar with the city as he is. Where I thought I wanted to live and what I truly wanted were not the same. He took the time to listen and figure out the best spot for me, and we are very happy with it - far more than we would have been elsewhere.

Investor from the USA

The overall experience was great from follow up to After Sales. I would like to give special thanks to Mr. Simon, Ms. Francisca and Ms. Mariana.

Investor from UAE

George Hobson is a pleasant young man, came across as knowledgeable, experienced, hardworking, honest & disciplined; I felt very comfortable in easily making my investment.

Investor from UAE

Luísa is a very understandable person, she knew exactly what we were looking for and even showed us and gave us more choices to pick from. Very professional advice, hospitality and service.

Roshana (Zulfiqar) Mian | Hong Kong