Golden visa residence permits-income drops 52% in November YoY

Income arising from golden visa residence permits for foreigners fell 51.9% in November year-on-year terms to 37 million euros, according to accounts made by Lusa based on statistics from the Foreigners and Borders Service (SEF).

In November, total income from Residence Permits for Investment Activity (ARI) amounted to 37 million euros, which corresponds to a decrease of 51.9% compared to the same month in 2018 (77.1 million euros).

Compared to October, when the investment was 59.9 million euros, the decrease was 38%.

Of the total income last month, 33.9 million euros corresponded to the requirement to acquire real estate and 3.1 million euros to the transfer of capital.

In November, 64 golden visas were granted, of which 61 were issued for the purchase of real estate and three for the transfer of capital.

Regarding ‘golden’ visas granted with the purchase of real estate, 17 corresponded to the acquisition for the purpose of urban regeneration.

In the first 11 months of the year, income amounted to 698 million euros, 6% less than in the same period of 2018.

Over more than seven years – the ARI programme was launched in October 2012 – the accumulated income up to November totalled almost five billion euros, with the acquisition of real estate amounting to 4.4 billion euros.

Visas granted through capital transfers totaled almost 481 million euros.

Until last November, in cumulative terms, 7,655 gold visas were granted through the purchase of real estate, of which 439 were granted for urban rehabilitation.

By capital transfer requirement, the visas granted total 453 and 17 were granted through the creation of at least 10 jobs.

By nationality, China leads the allocation of visas (4,441), followed by Brazil (858), Turkey (374), South Africa (318) and Russia (293).

Since the beginning of the programme, 13,862 residence permits have been granted to reunited family members, of which 2,047 this year.