120 Portugal Golden Visa were issued by the Portuguese authorities in September 2022, according to the Portuguese Immigration and Border Service (SEF), based on a report shared Lusa (Portugal’s leading news agency).

Among the total number of golden visas filed in September, 26 were issued to Chinese nationals, 17 to US nationals, 16 to Britons, and 14 to Brazilians. Seven Indian nationals also profited from this scheme, as per the Schengen Visa Info website.

Based on the report, the investment through the Portugal Golden Visa Program, increased by more than double in September of this year compared to the same month last year.

In September this year, the number of Golden Visas almost doubled compared to a total of €30.4 million raised in the same month last year.

In the first nine months of this year, the investment through Portugal Golden Visa increased to €465 million, or 43 percent more compared to €325 million recorded during the same period last year.

In addition, according to the Lusa report, last month, a total of 120 visas were granted; of them, 100 were based on the criteria for acquiring real estate and 20 for capital transfers.

Portugal first introduced the legal framework for its residency by investment program, known as the Portugal Golden Visa, by amending Act number 23/2007 on July 4, 2012.

The amendment to the Portugal residency regulations set the criteria for granting residency permits to third-country nationals through foreign investments.

Qualified applicants may obtain Portugal residency allows for themselves, their spouses, dependent children, and parents. Applicants receive their Portugal Golden Visas within 2 months of making an investment and submitting an application.

The residency permit holder can apply for naturalization after 6 years of legal Portugal residency.