Why is Portugal So Attractive in 2020 for South Africans?

Portugal has a successful Golden Visa program. Outperforming itself each year, the program attracts great interest from South Africans. Many South Africans choose Portugal’s Golden Visa program as an international investment route. For interested parties, 2020 is a great year, and it shows. In May 2020, the program tripled its performance in May 2019.

What is the Portugal Golden Visa Program?

The Portugal Golden Visa Program is initiated in 2012. Since then, it generates income for the Portuguese economy. It is a residency by investment program. Investors may follow the investment routes implemented in the program and receive residence permits. As a result, permit holders have the right to live, study, and work in Portugal.

The program also grants visa-free travel to a lot of countries. It requires only seven days of residence per year. After five years, it allows investors and dependents to apply for citizenship. So, indirectly, it leads to EU citizenship.

Why is Investing in the Portugal Golden Visa Program in 2020 a Great Opportunity?

The Portugal Golden Visa Program is a decorated one. Year after year, it receives well-deserved accolades. Yet, it has downsides, too. Recently, the government decided to take Lisbon and Porto out of the program. These two cities received most of the real estate investment. To be able to channel investments into other areas within the country, the government authorized this update.

Due to Covid-19, these changes are canceled. The government decided that the income might be helpful during the global pandemic. Thus, investors have one more chance to benefit from Lisbon’s and Porto’s property markets.

Why Should South Africans Be Interested in the Portugal Golden Visa Program?

First, South Africans are already aware of the attractiveness of the Portugal Golden Visa Program. Following the Chinese, Russian, Brazilian, and Turkish investors; South Africans are the fifth nationality with most approved applicants. There are many reasons why the Portugal Golden Visa Program is attractive.

Portugal has good relations with British citizens. It is certain that even after Brexit, Portugal will allow visa-free travel for British citizens. Also, Portugal has a large expat community. South Africans in Portugal find no hardships in adapting. Locals also usually speak English very well.

Safety, security, healthcare, education, culture, historical richness, and climate are just some of the attractions of Portugal. Moreover, the country has a perfect business environment. Yielding profitable returns, Portuguese real estate is a catch in 2020.

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