While Chinese investors have long been the main recipients of Golden Visas in Portugal, the tide is now changing, with Americans now being the top nationality for the visa.
Data for 2022, released by Bloomberg, indicates that since January, 124 Americans have been granted residence permits, while only 105 permits have been granted to Chinese. This year, only 16% of successful candidates are Chinese, compared to 81% in 2014.
But are there fewer Chinese wanting to invest in Portugal? Bloomberg’s analysis suggests otherwise. The publication, a specialist in financial matters, emphasises that there are more and more investors wanting to leave China, either because of political tensions or because of the “covid zero” policy, which has forced successive lockdowns. However, the obstacles to getting a “Gold Visa” have increased.
Travel restrictions
Travel restrictions between Portugal and China have made the application process, which requires a personal interview, almost impossible and the European Union (EU) itself has already demonstrated a firm stance against travel authorisation programs. Brussels has already demanded stricter regulations for these golden passports, which it considers compromise “the essence of EU citizenship”. However, in China, immigration consultants say that government authorities have also created more difficulties in leaving the country with delays in renewing passports and other documents necessary for the process according to a report by CNN Portugal.
