BMO Nesbitt Burns
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Just back from a trip to Portugal – beautiful country, friendly people, great food. The economy seems to be booming, a far cry as to when Portugal was the “P” in PIIGS, the acronym used to highlight the European countries suffering the most during the credit crisis. Of course there is an ETF to track the Portuguese stock market (symbol PGAL) – year-to-date the ETF has advanced 7% (i). I was told that tourism has tripled over the past few years and Lisbon and Sintra were certainly quite crowded. One of the programs helping their economy is the “Golden Visa”, which provides a path to permanent residency for non-EU nationals. For example, an investment of €500,000 or more in a property can lead to this special visa. One of the key attractions of this “Golden Visa” is a 10 year tax holiday, especially handy if you live in a country that does not tax worldwide income. As for Visa*, the payments technology company, you could also say that an investment in their shares (symbol V) has been golden with a gain of 28% in 2019 (i).
Source: (i) ThomsonOne
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* This specific security is covered under the research of BMO Capital Markets. For a full list of company specific disclosures keys please visit https://research-ca.bmocapitalmarkets.com/Public/Company_Disclosure_Public.aspx or ask your BMO Nesbitt Burns Investment Advisor for a copy.