Investment raised with golden visas more than doubled in March

According to calculations made by Lusa based on SEF data, investments received under the golden visa program more than doubled year-over-year in March to €78.4 million, up 42% in the quarter.

In March, the amount raised under the Residence Permit by Investment (ARI) program, which ended 10 years in October last year, increased by 126.5% compared to the same month in 2022 (34.6 million), to 78.4 million euros.

Compared to February, when 55.2 million euros were collected, the increase was 42%.

Last month, 163 golden visas were issued, of which 119 were for the purchase of real estate (70 for the improvement of the city) and 44 for capital investments. Again, this was not provided by ARI through job creation.

According to the Service for Foreigners and Borders (SEF), the amount received through the purchase of real estate amounted to 57.2 million euros, of which 23.7 million euros relate to acquisitions for urban regeneration.

The capital investment criterion in March was 21.2 million euros.

In March, the United States displaced China, which returned to first place in February after Washington “beat” Beijing in January, in the list of countries with the largest number of golden visas received in the analyzed month.

Thus, the US received 28 golden visas, China – 23, the UK – 16, followed by Brazil (11) and the same number as South Africa (11).

Family members were issued 262 visas in March, up from 209 in February and 153 in January, for a total of 624 visas in the first quarter.

Investment in ARI for the quarter was €177.2 million, up 42% compared to the same period in 2022 (€124.7 million).

A total of 386 golden visas were issued in the first quarter of this year, 130 of them in February and 93 in January.

In total, from the inception of the program in October 2012 to February, investments amount to more than 6,931 million euros.

During this period, 11,921 ARIs were allocated, of which 5,304 were allocated to China, 1,198 to Brazil, 607 to the United States, 568 to Turkey, and 525 to South Africa.

Since the launch of the program, 10,874 golden visas have been issued through the acquisition of real estate worth more than 6,175 million euros. Of this amount, EUR 586.2 million is for urban regeneration procurement out of the 1,636 golden visas issued.

In terms of capital transfers, the cumulative amount is €755.9 million out of 1,025 ARIs awarded, and in over 10 years of the program, only 22 golden visas have been awarded through job creation.

In total, 19,433 golden visas were issued to reunited family members.

As part of measures to combat real estate speculation, Prime Minister António Costa announced that the government would no longer issue golden visas based on this criterion.

“As for the golden visas already issued, (…) they will only be renewed if they are the permanent residence of the owner and his descendant, or if the property is put on the rental market for a long term,” – the message says. prime minister in February.