What are “golden visas”?

as long as it has been accepted in China that “to get rich is glorious”, it has also been known that to get out can be glorious, too. The urge felt by many newly well-off Chinese citizens to be able to move to another country has been a big reason for the growth ofbusinesses, which can help organise such moves.

China is the biggest source of demand, but far from the only one. People all over the world want to move countries—to flee persecution, political instability or, in some cases, justice. Or, more prosaically, many simply hope to secure a better education for their children or to work somewhere with a pleasant climate and good cuisine. Under these schemes they bring their host country welcome investment. It seems a win-win arrangement.

The scheme required investment or the acquisition of property worth at least €500,000 , or a rather smaller sum in “low-density” areas or in particular parts of towns in need of regeneration. More than €6bn has been invested over the years. It gave a five-year residence visa which, since Portugal is part of theEU

. After five years holders can apply for permanent residence in Portugal, as well as for citizenship and an. More than 5,000 Chinese have acquired such visas, along with more than 1,000 Brazilians and more than 500 people from each of America, South Africa and Turkey. Ireland’s announcement of the closure of its own scheme to new applicants came two days before Portugal’s. This time, the effect on the local market seems to have been less of a concern than domestic political pressure. Simon Harris, the justice minister, said Ireland had “taken on board a number of reports and findings from international bodies such as the EU Commission, Council of Europe and

Wanting to leave uncivilised countries does not give people the right to enter any other country.

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