Move Over, Canada: Portugal Is the New Hot Choice for Wealthy Chinese Visa-Seekers: Shanghaiist
After Canada dismantled its ‘investor visa program’ when it got some 46,000 Chinese applicants, it was only a matter of time before China’s wealthy and footloose found a new country where the air is clean, the visa laws lax, and the economy eager for injections of foreign cash. Chinese millionaires, meet Portugal and the “Golden Visa.”
Portugal has rolled out a fancy new visa program, offering residence to any international investor who can buy 500,000 euros worth of real estate, invest one million euros into a Portugese corporation, or create 30 jobs. So far 542 “Golden Visas” have been issued, with Chinese investors taking up 433 of those slots, or about 80%.