55
55

Investment in Golden Visas Rises by 60% in May

7 June 2018

Last month, the investment in golden visas grew by 60% year-on-year.

The investment raised through golden visas increased by 60% to 73.6 million euros in May, compared to the same month in 2017, according to statistics provided by the Service (SEF).

In May, the investment resulting from the Residence Permit for Investment Activity (ARI), also known as golden visas, reached 73,637,544.40 euros, up 60% year-on-year (45,869,824.93 euros). The investments also rose by 15.7% in relation to April. Of the total amount raised in May, most correspond to the purchase of real estate (67,024,318.92 euros), while the capital transfers amounted to 6,613,225.48 euros.

120 golden visas were awarded last month. 114 were granted for the acquisition of real estate, and of those, twelve were granted for the acquisition of real estate for urban rehabilitation.

First 5 months of 2017 better than those in 2018

In the first five months of the year, the investment raised reached a total of 431,179,769.64 euros, corresponding to a 22.6% decrease compared to the 557,196,055.93 euros registered in the same period of 2017.

In cumulative terms – since golden visas began to be awarded on October 8, 2012, and up to last May – the total investment raised has amounted to €3,842,445,612.03, of which €363,046,446.68 stems from capital transfers and 3,479,399,165.35 euros from the purchase of real estate.

Since the creation of the instrument, which is aimed at attracting investment, 6,279 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 726 in 2018. In cumulative terms, from its inception up to this May, 5,930 visas were granted for the acquisition of property, 338 for the transfer of capital, and 11 for the creation of at least ten jobs.

China leads the list of assigned ARIs (3,854 until May), followed by Brazil (553), South Africa (246), Russia (219) and Turkey (213).

Original Story: Diário Imobiliário

Translation: Richard Turner