Golden Visas for Golden Geese

Under the Portuguese Residence Programme, Foreign investors who spend 500,000 euros on property in the country have the right to live there. ‘Golden Visas’ are also available to those who invest a million euros in capital, or create 10 jobs in Portugal.

For this successful applicants have unfettered travel around the Schengen area, and after six years they can apply for Portuguese citizenship. Starting in 2012, 734 of these Golden Visas have been issuedto date , raising inward investment of nearly half a billion euros. Nearly six hundred of these have come from China.

Spain has a similar scheme, but they are being undercut by Cyprus with its price tag of 300,000 euros. Greece comes in even lower at 250,000 euros.

Is this the shape of things to come?

Thanks again to BBC News online for the information.

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