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The Golden Residence Permit program has mainly attracted Chinese businessmen wishing to invest in Portugal. According to the Consul General of Portugal in Macau and Hong Kong, Vítor Sereno, EUR143 million has been invested so far, with EUR106 million coming from China.
In a recent presentation, Mr Sereno revealed the latest figures of the new residence permit regime launched early this year. “We a have a total of EUR143 million invested, meaning that 226 visas were granted, with 168 through diplomatic representation of People’s Republic of China. This means that around 75 percent of these GRP was granted to China,” the Consul General stressed. 
30 to 35 percent of the Chinese investment comes from Macau and Hong Kong. The so-called Golden Visa entitles non-European Union citizens to request a residence permit in Portugal for themselves and close family members, if they invest in Portugal. Options range from the transfer of capital equal to or higher than EUR1 million, the creation of 10 work positions, or the purchase of real estate with a minimum value of EUR500,000. The latter is the most common method of acquiring the Golden Residence Permit. So far, Macau and Hong Kong have yielded EUR33 million to Portugal. 
Vítor Sereno emphasized that behind these numbers lies an effort of several Portuguese diplomatic missions. “It shows that the diplomatic representatives have been working well. In my mission here in Macau, one of the aspects I wanted to work on was the economic sector, particularly the promotion of the Golden Residence Permit,” he stated. 
The Consul General added that after six months he still believes the task “hasn’t been completed yet”. “I am an ambitious person, so we will continue to work along this path,” Vítor Sereno promised.
During the session last week, real estate companies and law firms from Portugal had an opportunity to present their services to prospective investors. Law firm Garrigues, for instance, presented its “Golden Visa expertise with competitive prices.” Lawyer Miguel Marques dos Santos explained how the firm is able to help those interested in applying for the Golden Visa. 
Emphasizing that Portugal is located in a very “strategic position between America and Africa”, it also offers an “attractive tax framework,” the lawyer guaranteed, explaining that those who are granted the visa will benefit from wealth, inheritance and tax exemption on gifts. Moreover, he stressed that with the coming tax reform, companies are expected to benefit from tax reductions as well. 
In addition, the lawyer elaborated on the immigration procedures, explaining the different steps in the application process when purchasing property. The Golden Residence Permit is initially granted for a period of one year; it can subsequently be renewed for two years. After five years, one is entitled to request permanent residency. 
During his speech, Vítor Sereno also highlighted some aspects of the country which investors might find attractive: strategic location, sunlight, safe environment, Portuguese language (the 5th most spoken in the world), easy access to other European Union countries, good infrastructure and free movement within the Schengen area. The Consul General in Hong Kong and Macau also underlined the role played by Portugal’s personalities in different fields, from Cristiano Ronaldo and José Mourinho (football) to Joana Vasconcelos (plastic arts) and Siza Vieira (architecture), as well as Danieal Ruah (television). 
The Golden Residence Permit will soon be presented at a similar event in Shanghai. Staff reporter

Vítor Sereno to represent Portugal at Forum Macau

The Consul General in Macau and Hong Kong, Vítor Sereno, is due to represent Portugal in the Forum for Economic and Trade Cooperation between China and the Portuguese-speaking countries, commonly known as Forum Macau. According to the Portuguese news agency Lusa and Radio Macau, the decision has been made and publicized through the Portuguese ambassador in Beijing. 
According to Lusa, an unidentified source revealed that Vítor Sereno was chosen because he will work toward “enhancing the importance Portugal can give to the Forum and [strengthen] Macau’s role as a platform between China and the Portuguese speaking countries.”  
The same source has also emphasized that Portugal’s choice reinforces its importance to Forum Macau and its commitment to investing in Macau’s market. 
Vítor Sereno has confirmed his appointment as Portugal’s Forum Macau representative with Radio Macau. He will work closely with the delegate of the Agency for Investment and External Commerce in Portugal, Maria João Bonifácio. 
The 5th Ministerial Forum Macau Conference will be held in the territory between 5 and 6 November. 

http://www.macaudailytimes.com.mo/macau/47678-china-leads-golden-visa-program-in-portugal.html

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