Some of you reading this article may be unacquainted with the term golden visa. Let me, therefore, briefly explain what the term means. In essence, a golden visa is a permanent residency visa which can be issued to an individual once he or she has invested a sum of money into the issuing country. This money is quite often invested through the purchase of property. The scheme is particularly popular in Portugal; an investor can be given a visa if they invest a minimum of €500,000 or create 10 jobs within the country. This scheme has increased in popularity as of late. Let us, hence, briefly explore potential reasons as to why golden visa property investment is increasing.
More people seem to be investing in the golden visa scheme due to unrest in their home country or state. This is certainly the case for investors from Hong Kong. It seems that the political unrest in Hong Kong has led to many investors choosing to buy properties in Portugal. Hong Kong’s golden visa investment increased by a whopping 260% in July. Hence, we see that political issues may be contributing to the increase in investment in golden visas.
The golden visa scheme also seems to be increasing as it allows investors the chance to have properties in luxurious holiday destinations. Attica, a historical region that encompasses Athens, has seen an increase in investments via the golden visa scheme. The investors seem to be from a wide range of countries such as Turkey, China and Lebanon. This is arguably an example of people choosing a luxurious location, so that they can spend their vacations there.
In conclusion, the golden visa scheme is an excellent way for people to increase their security for the future by purchasing property relatively easily. In addition, it certainly is an affordable scheme with high returns. These are just a few reasons why people have started to invest more and more money into it.