Golden Visas: Investments Hit €838 Million in 2018

4 January 2019

Of the total for December, 79,681,588.30 euros corresponded to investments raised through the acquisition of real estate, while capital transfers totalled 14,662,869.09 euros.

The total investment raised by the golden visas program reached 838 million euros in 2018, down 0.6% from the previous year, according to the Foreigners and Borders Service (SEF).

Last year, the total investment raised by the Investment Activity Residence Permit (ARI) program reached 838,532,935.27 euros, slightly lower (-0.6%) than the 844,088,897.77 euros raised the year before, also down 3.4% from the previous year.

1,409 visas were granted in 2018, 4.2% more than a year earlier.

In December, the investment amounted to 94,344,457.39 euros, more than triple (210%) the amount in the same month of 2017.

Of this amount, 79,681,588.30 euros stems from investments raised through the acquisition of real estate, while capital transfers totalled 14,662,869.09 euros.

Last month, 149 visas were granted, of which 134 were on the basis of property purchases. Of these, 21 resulted from the purchase of real estate for urban rehabilitation.

Capital transfers accounted for 14 visas in December, while the criterion for the creation of at least ten jobs resulted in one visa.

Over the last six years – the Portuguese government launched the ARI program in October 2012 -, the accumulated investment has reached 4,249,798.77,66 euros, with the acquisition of real estate accounting for 3,848,740,971.97 euros.

Capital transfers totalled 401,057,805.69 euros.

Since the creation of the program, which is designed to attract investment, 6,962 ARIs have been allocated: two in 2012, 494 in 2013, 1,526 in 2014, 766 in 2015, 1,414 in 2016, 1,351 in 2017 and 1,409 in 2018.

Up to last December, in accumulated terms, 6,575 golden visas were granted through the purchase of real estate, of which 249 for urban rehabilitation. Another 374 stemmed from capital transfers and three for the creation of at least ten jobs.

By nationality, China leads the allocation of visas (4,073), followed by Brazil (653), Turkey (295), South Africa (275) and Russia (243).

Since the beginning of the program, 11,815 residence permits have been allocated to regrouped family members, 2,500 of which were this year.

Original Story: Jornal Econômico

Translation: Richard Turner