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Bolstered by Real Estate, Investment in Golden Visas Doubles in October
12 November 2018
Foreign investment resulting from the concession of golden visas doubled in October, compared to the previous month, to 74.2 million euros, according to statistics from the Foreigners and Borders Service (SEF). This figure came after a weak September, which saw investments of €37 million, down 19% from August.
The revenue for October, according to Lusa, corresponds to the attribution of 125 golden visas. Of these, 118 came from the purchase of real estate, including 19 cases of urban rehabilitation, generating 66.8 million euros. Seven visas resulted from the capital transfer criterion (€7.3 million).
Chinese are biggest investors
In six years, the golden visa program has brought in a total of €4.1 billion (6,687 permits) in investments – the vast majority of which came from real estate, accounting for revenues of €3.7 billion. The strongest year was in 2014 when 1,526 visas were authorised.
Lusa reported that China leads the tally (3,981 visas), followed by Brazil (608), South Africa (265), Turkey (264) and Russia (232). In total, 11,370 residence permits have been allocated to foreign nationals since the beginning of the program.
Original Story: Idealista
Translation: Richard Turner