Deficit of 0.2% of Portugal GDP Lowest in the Eurozone

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The Latitude Understanding About the Deficit of 0.2% of Portugal GDP

Our Portuguese Residency by Investment expert is Jon Green. He welcomes another Portuguese good news story, this time about Portugal GDP: “If you’re considering Residency by Investment (RBI), chances are that you’re looking for a flexible program with the backing of a strong economy.”

Green continues: “While the grass isn’t always greener elsewhere, it’s looking pretty verdant in Portugal right now.” “Compare Portugal to fellow European countries offering RBI programmes. The Portuguese economy is outstripping these competitors which makes it a great opportunity.”

Portuguese Deficit and the Wider European Picture

Portuguese deficit lowest in the Eurozone declares a recent article in The Portugal News. This drew on data from Eurostat, an official resource of the European Union. 

According to the statistics, “from an unadjusted perspective, the average for the Eurozone recorded a deficit of 4.1% of Gross Domestic Product (GDP), and for the European Union a negative balance of 3.8% of GDP.”

Of all the single-currency countries, Portugal “was the best among those that had a budget deficit.” The story continues by noting that “among the countries with the highest deficit, Belgium (-9.6%) and France (-6.9%) stand out.”

The Portugal GDP piece concludes that by “looking at seasonally adjusted data, in the first three months of the year, the Eurozone’s average deficit was 3.2% and the European Union’s was 3%, with Portugal presenting the third largest surplus (0.6%).”

Comparing European Residency by Investment Programmes

The relative health of the Portugal GDP shouldn’t be the only metric that you use to measure its RBI Programme against others in the region. While Portugal’s minimum threshold is $200,000 (donation option) or $500,000 for the venture capital fund, in Malta it’s even lower, as in $150,000 for their Permanent Residence Program. 

Processing time is currently 2 years+ in Portugal but they offer the most flexible path to citizenship of any EU program which is five years from the date of application submission. In comparison Maltese applications are typically dealt within 6-8 months but the path to citizenship is 15 years.

The lowest-priced Greek Golden Visa is currently $250,000, but will rise to $400,000, later in the year. Processing time takes between 6 and 12 months whilst the period of naturalization is 7 years.

Over in Spain, where the Government has announced the impending closure of the programme, the least expensive golden visa is priced at $500,000, takes from 5-7 months to process, and can lead to naturalization within 10 years (2 if you’re from LATAM or the Philippines).

How to Get a Portuguese Golden Visa in 2024

If the performance of Portuguese GDP convinces you to invest in Portuguese residency, there’s only one way to turn. You should consult a company with decades of Residency by Investment experience under its belt like Latitude Group. So, don’t delay and contact us today.