The government of Portugal will review the arrangements for granting foreigners other than EU citizens what are known as golden visas, which permit them to live in the country if they invest in it, Reuters reports.

The news agency says the government wishes to direct the money brought in by holders of golden visas away from the red-hot market for property in the big cities, and divert it into more productive investments.

The report says new guidelines drawn up by the government would channel investment into depopulated parts of the country to create jobs, reinvigorate urban areas and rehabilitate the built heritage.

The 7,960 holders of golden visas, most of them Chinese, have together put 4.8 billion euros (about US$5.3 billion) into Portugal since 2012, investing 90 percent of it in the property market, the report says.

At present, creating 10 jobs by investing in a Portuguese company, buying property worth at least 500,000 euros, putting 250,000 euros into arts and culture or putting 350,000 euros into scientific research will earn a foreigner a golden visa, Reuters says.