‘Gold’ visas: Investment falls 30% in August to 57.6 million euros

Investment obtained through ‘gold’ visas fell 30% in August, year on year, to 57.6 million euros, but rose 2.8% compared to July, according to accounts made by Lusa based on SEF statistics.

In August, the investment resulting from the granting of a Residence Permit for Investment (ARI) reached 57,694,424.11 euros, which represents a 30% decrease compared to the same month of 2019 (82.5 million euros).

Compared to July (56 million euros), investment raised through ‘gold’ visas rose 2.8%.

Last month, 107 ‘golden’ visas were granted, of which 97 were due to the acquisition of real estate (25 when purchasing for urban rehabilitation) and 10 through the capital transfer criterion.

The purchase of real estate totaled an investment of 50.1 million euros in August, of which nine million euros correspond to the acquisition for urban rehabilitation.

The capital transfer totaled an investment of 7.5 million euros, and no visa was once again granted through the creation of jobs.

Of the total ‘gold’ visa concessions in August, 36 came from China, 12 from Brazil, 10 from Russia, eight from South Africa and seven from the United States.

In the year, the amount raised by this instrument totaled 496 million euros, 10% less than the accumulated investment in the same period of 2019.

Between January and August, 915 ‘golden’ visas were issued.

In almost seven years – the ARI program was launched in October 2012 – the accumulated investment until last August totaled 5,488,957,942.38 euros, with the acquisition of real estate totaling 4,958,811,718.50 euros.

Of the total investment in property purchases, 257,578,456.09 euros correspond to the acquisition requirement with a view to urban rehabilitation.

Visas issued by capital transfer totaled 530,146,223.88 euros.

Since the creation of this instrument, which aims to attract foreign investment, 9,122 ARI have been allocated: two in 2012, 494 in 2013, 1,526 in 2014, 766 in 2015, 1,414 in 2016, 1,351 in 2017, 1,409 in 2018, 1,245 in 2019 and 915 in 2020.

Up to August, in cumulative terms, 8,584 ‘gold’ visas were attributed through the purchase of properties, of which 715 were for urban rehabilitation.

Due to the capital transfer requirement, the visas granted totaled 521 and 17 remain due to the creation of at least 10 jobs (in the last months, no visa granted through this route has been registered).

By nationality, China leads the way in granting visas (4,688), followed by Brazil (968), Turkey (437), South Africa (378) and Russia (350).

Since the beginning of the program, 15,647 residence permits have been granted to reunited family members, of which 1,024 in 2020.

ALU // MSF

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