After Gold comes Green

On January 11, the Portuguese parliament voted in favour of the introduction of the Green Visa, an extension of the existing Golden Visa scheme.

The introduction of the Golden Visa programme in 2012 with the aim to attract investment from wealthy foreigners willing to invest at least 500,000€ in property or create 10 jobs in Portugal, is considered a huge success by some due to the huge amount of generated investment (around 4.2 billion euros, of which 3.8 million were invested in property) and an untransparent scheme, associated to corruption and money laundering, by others, including Transparency International. Continue reading

Advertisements

Portugal’s New Prosperity

Portugal is fashion. As described in my blog post Portugal’s New Popularity, 2017 was a record year in both property sales and tourist arrivals, contributing to the fastest economic growth in this century, quicker than the European Union average. An estimate by Statistics Portugal (INE) revealed that Portugal’s gross domestic product (GDP) increased from 1.5% in 2016 to 2.7% last year. Continue reading