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Investments Stemming from Golden Visas Up 41% in November

13 December 2018

Investments resulting from the concession of golden visas rose 41% in November, compared to the same month last year, to 77 million euros, according to the Foreigners and Borders Service (SEF).

Last month, investments raised through the Residence Permits for Investment Activity (ARI) program totalled 77,100,876.53 euros, up 41% from 54,589,231.55 euros the year before.

Compared to October, investment increased by 4%.

The Portuguese government awarded 126 visas in November, 121 for investments in the acquisition of real estate (13 of which were for urban rehabilitation) and five for capital transfers.

Between January and November, the investments totalled 744,188,477.88 euros, a fall of 8.5% compared to the same period last year, when the total reached 813,685,673.56 euros.

Over the last six years – the Portuguese government launched the ARI program in October 2012 -, accumulated investments totalled 4,155,454,320.27 euros, with the acquisition of real estate accounting for 3,769,058,383.67 euros.

Capital transfers totalled 386,394,936.60 euros.

Since the creation of the program, which was designed to attract investment to Portugal, 6,813 ARIs were granted: two in 2012, 494 in 2013, 1,526 in 2014, 766 in 2015, 1,414 in 2016, 1,351 in 2017 and 1,260 in 2018.

In the year to November, in accumulated terms, 6,441 golden visas were granted for the purchase of real estate, 228 of which were for urban rehabilitation. Three hundred sixty visas were granted for capital transfers and another 12 for the creation of at least ten jobs.

China leads the allocation of visas by nationality, with 4,013, followed by Brazil (625), Turkey (279), South Africa (268) and Russia (237).

Since the beginning of the program, the Portuguese government granted 11,579 residence permits to family members of visa holders, 2,264 of which were granted this year.

Original Story: Impala.pt

Translation: Richard Turner