‘Golden visa’ resident permit investment doubles in October, to €74m

  • ECO News
  • 12 November 2018

Investment coming to Portugal connected with the issuing of ‘golden visas’ was in October at twice the level of September, at €74 million, according to the latest figures from SEF (Border Service).

Fast-track residence permits for major foreign investors, or ‘golden visas, attracted in October an investment which stood at twice the level of the previous month (€74 million), according to the latest figures released from the Foreigners and Borders Service (SEF).

Investment from the granting of permits under the ARI (Residence Authorisation for Investment Activity) programme, as it is officially called, totalled €74,202,048.76 in October, up from €37,042,550.61 in September. That month, the total had been down 19% on August.

In October 125 ‘golden visas’ were issued, 118 of which on the basis of property purchases, totalling €66,807,218.91, and seven on the basis of capital transfer, for an investment of €7,394,829.85. Of the permits issued for the purchase of property, 19 of them represented cases of urban rehabilitation, for which the threshold is lower.

In the six years since the ARI programme was launched in October 2012, cumulative investment totals €4,078 billion, with purchases of property accounting for €3.70 billion. Capital transfers brought a total of €380 million in the period.

Since ARIs were created, 6,687 permits have been issued: two in 2012, 494 in 2013 and 1,526 in 2014, then 766 in 2015 and 1,414 in 2016. Last year there were 1,351 issued and so far this year 1,134.

By nationality, China leads with 3,981 permits issued, followed by Brazil with 608, South Africa with 265, Turkey with 264 and Russia with 232.

Since the beginning of the programme, a further 11,370 residence permits have been issued to members of permit-holders’ families, of which 2,055 this year.