In 2018, 482.7 million Euros were generated by the Tourism and Hospitality industry in the areas of Porto and North Portugal. Porto houses a world heritage site by UNESCO. Tourism is a growing industry in Portugal: a 17% growth in the number of visitors in the country (20 million visits) in 2017.
With its mild climate, 3000 hours of sunshine per year, and 850 km of splendid beaches bathed by the Atlantic Ocean, Portugal is the perfect holiday destination all year round. Porto, the second biggest city in the country, was elected The Best European Destination in 2014, 2016, and 2017.
Porto’s primary source of revenue comes from Tourism and Exportation. Porto is among the top 5 cities that welcome tourists in the EU with an occupancy rate of over 70%. Hence, the real estate business and the hotel industry are one of the most profitable investment opportunities currently available in Portugal, especially in Porto.
The Portugal Golden Visa is a profitable and safe choice that concedes lots of benefits with very few requirements for its applicants. There are no requirements for language, management experience, or education credentials to apply for the Golden Visa. It’s a fast and simple process to receive residence permits.
Portugal doesn’t charge tax on worldwide income. In addition, the investment can be refundable after five years (depending on the project). Also, Golden Visa holders have the right to live, to work, do business, to study in Portugal, and can travel freely within the Schengen zone. Investors can easily apply for citizenship and be granted EU benefits for them and their families.
According to the statistic of SEF, from October 2012 to October 2020, Portugal has issued 9,254 residence permits for investors and 15,864 residence permits for family members under the Portugal Golden Visa Program.
Total foreign investment in Portugal surpassed 5.5 billion EUR, of which 5 billion EUR were invested in purchasing real estate. Most of the investors came from China, Brazil, Turkey, South Africa, and Russia.