Pandemics and political shifts are pushing many families and individuals to become citizens of some of the world’s safest countries. Thanks to its incentive programmes, tax breaks and sense of security, Portugal is one of those countries, with citizenship requests at an all-time high.

According to the latest data from the Portuguese borders agency SEF, more than 74,000 foreign residences applied for Portuguese nationality last year. The foreign resident population is now at its highest since records began.

While the Portuguese government considered altering the conditions of the national Golden Visa scheme (see here), the programme has continued in light of the crisis brought on by the COVID-19 pandemic. The decision is understandable: in May, Portugal saw a record number of applicants for the scheme, investing €146.2 million in return for citizenship.

Many cite Portugal’s quick response to the pandemic and relatively low cases as a reason for applying. But there is also the country’s tax benefits, and even laws and policies to attract international tech entrepreneurs to set up their European hub in the country.

Increased interest

For many families, the pandemic has brought several healthcare inadequacies in their home country into the spotlight. Applications from countries like the USA reflect a concern regarding the risk of a second wave in the winter. Meanwhile, state healthcare in Portugal is subsidised, and the National Health Service is available to all national residents.

Health seems to be the main reason behind this recent surge, and many are looking to acquire a second citizenship to relocate if necessary. However, others are looking to diversify their investments or invest to gain access to visa-free travel.

Inquiries from South Africa, for example, have increased substantially, attracted by the possibility of living and working in Portugal, and getting visa-free travel through the Schengen Area.

Compared to other countries that offer residency schemes, Portugal stands as being one of the most affordable, requiring foreigners to invest at least €500,000 or create 10 jobs. You can find more information on the Golden Visa here.

For more information about the Golden Visa scheme or purchasing a property in the Algarve, please contact the Algarve Home Sales team here.