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Investment Rises 14.6% Y-o-Y in November

6 December 2017

The investments raised through the golden visa program rose 14.6% in November, compared to the same month of 2016, to 54.5 million euros, according to data from the Foreigners and Borders Service (SEF).

In November, total investments resulting from Residence Permits for Investment Activity (ARI), also known as a ‘golden’ visas, reached 54,589,213.55 euros, an increase of 14.6% over the same month in 2016 (47,597,866.42 euros).

Regarding the change from October, we were unable to calculate the variation, since the SEF did not provide data that would have permitted the calculation.

Despite several requests made by Lusa to obtain the data, the SEF’s response was: “The statistical treatment of these data is translated into the map available on the SEF portal, which includes the data for August, September and October “.

Of the amount raised in November, the majority continues to correspond to the purchase of real estate (52,370,344.79 euros), while capital transfers reached 2,218,968.76 euros.

Last month, 93 golden visas were awarded, of which 91 were for the purchase of real estate, with two for the capital transfer requirement.

Of the 91 granted through the real estate purchase criterion, in November, another 14 ARI were awarded for urban rehabilitation, under the concession rules that have been in force since September 2015.

A total of 77 golden visas have been awarded for urban rehabilitation up to the end of November. The first such visa was granted in July 2016.

In accumulated terms – since this type of instrument, aimed at attracting investments to Portugal, began to be used, on October 8, 2012, until this November, the total investment amounted to 3,380,862,618.18 euros. Of this amount, €323,898,160.46 was raised through the transfer of capital and €3,056,964,457.72 through the purchase of real estate.

Since the creation of this instrument, 5,505 ARIs have been allocated: two in 2012, 494 in 2013, 1,526 in 2014, 766 in 2015, 1,414 in 2016 and 1,303 this year.

In cumulative terms, up to November, 5,196 were granted for the acquisition of real estate, 301 for capital transfers and eight for the creation of at least ten jobs.

China leads the list of assigned ARIs (3,575 through November), followed by Brazil (463), South Africa (216), Russia (192) and Lebanon (108).

The new rules for obtaining golden visas, which extended the investment criteria for citizens outside the European Union to areas such as urban rehabilitation and science, among others, came into force on September 3, 2015.

Since 2013, 9,212 residence permits have been allocated to regrouped family members: 576 in 2013, 2,395 in 2014, 1,322 in 2015, 2,344 in 2016 and 2,575 in 2017.

Original Story: Diário de Notícias / Lusa

Photo: Rui Oliveira / Global Images

Translation: Richard Turner