Portugal is one of the first European countries to receive the new ”Safe Travels” stamp by the World Travel and Tourism Council. The WTTC just recently launched this new global safety and hygiene stamp to allow travellers to recognise which countries and businesses are following the standardised health and hygiene protocols set out by major organisations such as the World Health Organisation (WHO) and the Centre for Disease Control and Prevention (CDC).
Turismo de Portugal has also created their own “Clean and Safe” stamp of approval to distinguish which businesses are compliant with hygiene and cleaning requirements for the prevention and control of COVID-19 and other possible infections. Hotels, travel companies, restaurants, bars and car hire services across the country have already begun to apply for their certifications which will be valid for a year following an audit to ensure the utmost hygiene protocols are being implemented.
Portugal has controlled the Covid-19 outbreak extremely well compared to some of their European neighbours and this is likely to be a major draw for new investors looking to invest in Europe. Earlier this month, Portugal’s main airline TAP started to resume some of their major flights and will continue to expand their services into July and August. Just this week UEFA announced that the delayed Champions League final and mini tournament will be held in Lisbon this August.
All of the above factors could explain why May 2020 was the busiest month this year for golden visa application approvals. Since its inception in 2012, the Portuguese Golden Visa programme has now generated the country a staggering €5.2 billion in revenue. Despite a slow start to the year, the latest figures from SEF highlight that May 2020 has granted 270 families their Golden Visa permits in just one month alone. That’s almost a five-fold increase compared to the previous two months where just over 50 permits were issued in April and March. Out of the 270 applications approved in May, 257 of these investors purchased real estate totalling an impressive €136,913,745. Only 13 investors opted for the least popular, capital transfer route.
Portugal’s Golden Visa programme has always been one of the most popular and successful in Europe and it is evident from the above that investors are still confident in the country as they continue investing at vast rates despite such testing times. To find out more about the programme and how you can begin your application, please contact our experts.