Portugal: ‘Gold’ visa scheme brings in €56M in July, 43% less YoY

Funds raised through ‘gold’ visas fell by 43% in July, year-on-year, and fell by 37% compared to June, to €56 million, according to accounts made by Lusa based on SEF statistics.

In July, the investment resulting from the granting of Residence Authorization for Investment (ARI) totalled €56,005,967.76 euros, a drop of 42.9% compared with the same month in 2019.

Compared to June, this figure fell by 37%.

Last month, 108 ‘gold’ visas were granted, of which 98 through the acquisition of real estate (37 through the purchase of real estate for urban rehabilitation) and 10 through the capital transfer criterion.

The purchase of real estate in July totalled €50.3 million (urban rehabilitation amounted to €13.1 million) and the capital transfer amounted to €5.7 million.

Of the total ‘gold’ visa concessions in July, 21 came from China, 12 from the United States, nine from Brazil, eight from Vietnam and seven from Lebanon.

Between January and June, 808 ‘gold’ visas were granted

Over seven years – the ARI program was launched in October 2012 – the cumulative investment up to last July amounted to €5,431,263,518.27, with the acquisition of real estate amounting to €4,908,676,856.49.

Of the total investment in real estate purchases, €248,497,089.08 correspond to the acquisition requirement for urban rehabilitation.

The visas granted by capital transfer totalled €522,586,661.78.

Since the creation of this instrument, which aims to attract foreign investment, 9,015 ARI have been granted: 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 808 in 2020.

Up to July, in cumulative terms, 8,487 ‘gold’ visas were granted through the purchase of real estate, 690 of which for urban rehabilitation.

By requirement of capital transfer, the visas granted continue to total 501 and 17 were granted through the creation of at least 10 jobs (in the last few months no visa has been granted in this way).

By nationalities, China leads the allocation of visas (4,652), followed by Brazil (956), Turkey (433), South Africa (370) and Russia (340).

Since the beginning of the programme, 15,431 residence permits have been allocated to reunited family members, of which 808 in 2020.