October has been the golden month of the Portuguese Golden Visa. According to the Confederation of Construction and Real Estate, Portugal received an influx of over 126 million Euro from non-EU residents who decide to move to the sunny shores of the Atlantic, in the Algarve, or to Lisbon, cultural and economic center – to give just a couple of example of Portuguese attraction spots.

But first, what is the “golden visa”? The Golden Visa Programme was launched in October 2012 with the aim of attracting non-Eu investors willing to obtain valid Portuguese residency permits. Along with the permit to reside in Portugal, those who hold a golden visa are allowed to transit the entire Schengen space.

The idea seems to be very appealing to a number of nationalities, especially the Chinese, who are all too willing to obtain the tax free key to entering the European space. Next in line are the Russians, Brazilians, Angolans and the South Africans.

Why do foreigners flock to Portugal? Because, compared to other European countries, Portugal offers relatively low prices as well as a beautiful seaside and breathtaking landscapes. Apart from that, the golden visa includes an exemption from income tax and a minimum benefit apart from the initial property investment. So beyond the property purchase tax, there are virtually only advantages to speak of.

There are those who also voice their dissatisfaction, that while Portuguese citizens pay their taxes, wealthy foreigners who don’t actually physically reside in Portugal get unfair advantages. But aside for immigration, tourism remains one of the main sources of revenue for Portugal and travelling to the Algarve and the other parts of Portugal remains an amazing experience for everyone.