Investment in Golden Visas Falls in September

13 October 2020 – Investment in Portugal resulting from the Residence Permit – Investment (ARI), otherwise known as the Golden Visa program, reached 43,512,585.46 euros in September, a drop of 10% year-on-year. Investment also fell by 24% month-on-month.

The Portuguese government granted a total of 78 golden visas in September, 70 of which were linked to the acquisition of real estate (16 for urban rehabilitation) and eight due to capital transfers. So far this year, immigration authorities have granted 993 such visas.

The purchase of real estate brought in investments of 39.4 million euros in September, compared to capital transfers of 4.1 million euros. Once again, no visas were granted for job creation.

Of the total, 19 visas were given to Chinese investors, nine to Vietnamese, six to South Africans, five to Brazilians and five to investors from the United States.

The golden visa programme was launched eight years ago.  Market sources believe that the government will remove properties in Lisbon and Porto from the programme by the end of the year to help stanch price increases.

Original Story: Jornal Expresso – Lusa

Translation/Summary: Richard D. Turner