Some 1,424 residence permits were offered to investors in Portugal last year, Lusa reports. The Portuguese news agency cites data from the country’s Immigration and Borders Service showing the number of Golden Visas issued in 2016 almost doubled from the 766 residency permits offered in 2015. The scheme was suspended temporarily for a few months in 2015 while the legislation was reviewed.

Between the scheme’s introduction in October 2012 and the end of last year, more than 4,000 permits have been granted, with more than 2.5 billion euros (US$2.7 billion) have been invested by the recipients.

Some 3,050 Chinese passport holders have taken up visas since the scheme was introduced. Brazilians have been issued with 247 permits, making them the second-biggest group of recipients.

The Golden Visa scheme allows residents outside the European Union to apply for permanent residency in Portugal if they invest a minimum of 500,000 euros in real estate. A second pathway sees visas granted after a 1-million euros transfer or the creation of 10 new jobs.