In an age of uncertainty caused by trade tensions between the US and China and Brexit, political and social stability in Portugal is seen as a competitive advantage in attracting more foreign investment. According to Florbela Lima, partner of accounting firm EY Portugal, “political stability and social peace” are among the most important criteria for investors.
Prime Minister António Costa says that due to the low birth rate and declining Portuguese population, immigration is essential to combat the demographic crisis.
Golden Visa was one of the measures taken by the Portuguese government to attract foreign investors. In July 2019 the total investment made by Golden Visa was € 98 292 572.04, up 276% over the same period last year.
The biggest bet on Golden Visa has been real estate investment, where investors buy real estate in the historic centers of Lisbon and Porto to convert them into local accommodation. This has been worrying the local population as property prices in these areas have increased and fewer are available for their own housing.
