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US and China head increased interest in Portugal’s Golden Visas

Fast-track residence permit scheme raises more than 6 billion euros in nine years; South Africans, Britons and Brazilians also show keen interest.

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Fast-track residence permit scheme raises more than 6 billion euros in nine years; South Africans, Britons and Brazilians also show keen interest.

ARTICLE BY

PUBLISHED

READING TIME

Less than 1 minute Minutes

Investment attracted to Portugal through Golden Visas – fast-track residence permit for investment purposes – rose 2 per cent in the first quarter, with requests from US and Chinese nationals leading, official figures show.

In the first quarter, investment raised through Golden Visas totalled 124.7 million euros, 2 per cent more than in the first three months of 2021, which was 122.2 million euros, according to data from Portugal’s Immigration and Borders Service (SEF).

In March, a total of 73 golden visas were granted, following 94 in February and the same number in January. Of the March total, 51 were issued on the basis of property purchases (32 of these involving urban rehabilitation) and 22 through the capital transfer criterion.

In March, the inflow of funds through the Residence Permit for Investment (ARI) programme amounted to 34.6 million euros, a decline of 5.7 per cent compared to March 2021, and 17 per cent less than in February.

Last month, 14 first-order permits were granted to applicants citizens of the US, 11 to China, five to South Africa, four to the UK and four to Brazil. In addition, 72 permits were granted to family members of first-order permit holders, for a total so far in 2022 of 277.

Since the ARI programme – whose aim is to attract foreign investment – was launched in October 2012, a total of 6.22 billion euros has been raised. Of this amount, 5.6 billion euros corresponds to property purchases, including 402. One million euros for cases involving urban rehabilitation. Investment resulting from capital transfer totals 620.27 euros million so far.

In total, 10,515 ARI first-order permits have been assigned:

2012: 2

2013: 494

2014: 1,526  

2015: 766

2016: 1,414

2017: 1,351

2018: 1,409

2019: 1,245

2020: 1,182

2021: 865

2022: 261

Since the programme started nine years ago, 9,780 visas have been granted for property purchases, of which 1,122 involved rehabilitation. Some 715 visas have been granted for capital transfers and 20 for job creation.

In terms of families, since the start of the programme 17,498 residence permits have been granted, 277 of which in 2022, CLBrief reported.

 

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