Portugal has increased its foreign investment by selling EU residency permits to wealthy foreigners willing to pay.
It is the so called “Golden Visa scheme”.
But despite a recent scandal surrounding it, officials say it is here to stay.

CCTV’s Zhang Lan filed this report from Lisbon.

More Details:

• Portugal has been granting the special visas to foreigners who are ready to shell out at least €500,000 for a house or apartment in the country. Many luxury apartments in the Portuguese capital are now owned by foreigners. It is called “Golden visa” scheme.
• Experts say Golden visa schemes have been used by EU countries as a low-cost investment incentive, but there could be some corruption risks.
• Portuguese prosecutors said last month they planned to charge former interior minister Miguel Macedo for his role in a money-laundering scandal involving the golden visas .