Portugal's golden visa proves to be popular with rich investors

Golden Visa Program Status - Several European countries, including Spain, the Netherlands, and Ireland, have discontinued their golden visa programs, while Portugal's program remains active [1] - Portugal revamped its golden visa program in 2023 due to concerns about rising house prices attributed to foreign investors [1] Investment and Economic Impact - Portugal's golden visa program offers routes to citizenship through a €500,000 investment in domestic funds or a €250,000 donation to cultural heritage projects [2] - The Portuguese golden visa program is significantly cheaper than the US equivalent, which requires a $5 million investment [2] - A museum in Kamul, Portugal, has raised over €20 million through golden visa donations [3] - Applications for Portugal's golden visa program surged by 72% in 2024, reaching nearly 5,000, an all-time high [4] - The program has generated more than €7 billion up to 2023 [4] Economic Performance and Criticism - Portugal's economy is growing at twice the rate of the Euro zone average [5] - Critics argue that the funds generated by the golden visa program should be directed towards other sectors in need, such as hospitals and schools [4][5]