Official data indicate that the combined amount invested in Portugal by foreigners whose investments entitle them to reside there grew to €52.8 million (US$61.8 million) last month, 34.6 percent more than a year earlier, Xinhua reports.

The Chinese government-run news agency, citing data compiled by the Portuguese Foreigners and Borders Service, says 90 such investors were given permission to live in Portugal last month, 87 of them for investing in real estate.

The report says that since the beginning in 2012 of the scheme entitling foreigners from outside the European Union to reside in Portugal if they make certain investments there – called the golden visa scheme – 6,369 such investors have been given permission to live there, 60 percent of them Chinese.

Each such investor must buy property worth at least €500,000, bring in at least €1 million in capital or create at least 10 jobs, Xinhua says.

 

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