La Vida will be visiting China in December to promote the Portuguese golden visa along with several other investor visa programmes in Europe. Portugal is currently the number one destination in Europe for investors seeking a residency visa through investment. La Vida promotes several programmes including the real estate investment schemes in Spain, Greece, Malta, Cyprus and also the residency bond programmes in Hungary and Bulgaria. However Portugal is often the preferred choice for clients because of its low investment cost and the flexibility it provides for potential EU citizenship. We will be exhibiting at the Luxury Property Show in Shanghai from the 12th to 14th of December. It follows on from our recent exhibition in Abu Dhabi at the International Real Estate Investment Show.
The Portuguese economy is recovering and there are clear signs of an upturn according to the Secretary of State for Toursim, Adolfo Mesquita Nunes speaking at a conference attended by La Vida Portugal this week. Unemployment is down 1.4 percentage points from Quarter 1 to Quarter 4, 2013. Construction is up in the four main sectors including construction. Ten year bond rates have fallen from a peak of 7.47% to 3.71% and are now just 0.2% higher than those of Germany. Portugal is set to exit from the EU bailout programme in the coming months. Adolfo Nunes talked about the success of the government’s policies for encouraging inward investment including the golden visa programme and the new tax regime for non-habitual residents. To date 781 golden visas have been issued by Portugal, 2 in 2012, 490 in 2013 and 289 already in the first few months of 2014. The investor visa programme appears to be running at a rate of 1000 visas per year and climbing.
La Vida Portugal featured in an article in the South China Morning Post yesterday (China’s largest English daily newspaper). The article discussed the number of golden residency visas issued by Portugal in the last year – 542 and how it is expected to grow from this level. According to Colliers in a research note the number of properties sold in Portugal has increased 70% fuelled by the attraction of the golden visa programme. You can read the full article here.