Portugal's "gold visa" investment program fell 6.8% - Plataforma Media

Portugal’s “gold visa” investment program fell 6.8%

vistos gold

Investment captured through ‘gold‘ residence visas fell 6.8% in November, year-on-year, to 46.6 million euros, according to accounts made by Lusa based on statistical data from the foreigners and border authorities (SEF)

In November, the investment resulting from the Residence Permit for Investment (ARI) programme totalled 46,669,413 euros, which corresponds to a retreat of 6.8% compared to the same month of 2020 (50 million euros).

Read also: China’s gold visas drop nearly a third by May

Compared to October (46.4 million euros), the investment raised remained practically in line (+0.4%).

According to SEF data, 83 ‘gold’ visas were granted in November, of which 64 through the purchase of real estate (24 for urban rehabilitation) and 19 through the capital transfer criterion.

Last month the purchase of real estate totalled an investment of 36.9 million euros, of which 8.5 million euros for urban rehabilitation, while the transfer of capital raised 9.7 million euros.

By country, 20 ‘gold’ visas were granted to the United States in November, while China, which has been leading the way, obtained 19.

Brazil was granted 10, Turkey five and Russia another five.

Read also: Hong Kong security law drives demand for Portuguese ‘golden visas’

In the first 11 months of the year 781 ‘gold’ visas were granted, of which 55 in January, 100 in February, 73 in March, 98 in April, 52 in May, 67 in June, 41 in July, 64 in August, 61 in September, 87 in October and 83 in November.

In this period, the investment raised via this instrument totalled €415 million, a drop of around 33% compared to the €618.9 million recorded in the first 11 months of 2020.

The programme, which aims to capture investment, completed nine years in October, surpassing €6bn.

Thus, since the ARI concession programme was launched in October 2012 until last month, €6,057,663,503.19 has been raised.

Of this amount, the largest part corresponds to the purchase of real estate, which totals until November €5,471,573,948.60, and the acquisition for urban rehabilitation totals €350,507,722.90.

The investment resulting from capital transfer is 586,089,554.59 euros.

Since the creation of this instrument, which aims to attract foreign investment, 10,170 ARI have been assigned: two in 2012, 494 in 2013, 1,526 in 2014, 766 in 2015, 1,414 in 2016, 1,351 in 2017, 1,409 in 2018, 1,245 in 2019, 1,182 in 2020 and 781 in 2021.

In more than nine years, 9,514 visas have been granted by way of purchase of real estate, 974 of which with a view to urban rehabilitation.

By requirement of capital transfer, the visas granted total 636 and 20 for job creation.

Since the beginning of the programme 17,014 residence permits have been granted to regrouped families, of which 1,073 this year.

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