China’s Ultra-Rich Are Losing Their Favorite Escape Route to Europe
For the first time ever, more Americans are tapping Portugal’s golden visa program than their Chinese counterparts.
The skyline of downtown Lisbon.
Photographer: Goncalo Fonseca/BloombergThis article is for subscribers only.
For wealthy Chinese looking to flee stifling pandemic lockdowns and political tensions, Portugal has a lot to offer. Mild weather, a laid-back and affordable lifestyle and investor visas that allow access to the whole European Union — all for as little as 350,000 euros.
It’s a pitch that’s lured thousands of Chinese over the past decade, helping to reshape Portugal’s urban landscape as part of a tide of new money that reached $1 billion annually at its peak in 2014.