Golden visa residence permits for big investors raise €65.6M in November

Investment raised through ‘gold’ residence visas for foreigners in November increased 40% year-on-year and 48% compared to October, to €65.6 million, according to calculations made by Lusa based on Portugal’s immigration and borders service, SEF, data.

Last month, the investment raised via the Residence Permit for Investment (ARI) programme, which completed 10 years in October, totalled €65.6 million, a 40% increase compared to the €46.6 million recorded in November 2021.

Compared to the €44.3 million raised in October, the investment grew by 48%.

In the first 11 months of the year, the investment made through ‘golden’ visas adds up to more than €575 million, an increase of 37% compared to the same period in 2021, based on the calculations made by Lusa based on data provided by the SEF.

In November 121 ‘gold’ foreigners’ residence visas were granted, of which 95 for the acquisition of real estate (36 for urban rehabilitation) and 26 through capital transfers.

In accumulated terms, 1,130 ‘gold’ visas were granted this year until November (94 in January, 94 in February, 73 in March, 121 in April, 112 in May, 155 in June, 80 in July, 77 in August, 120 in September, 83 in October and 121 in November).

Investment in the purchase of real estate totalled €54.6 million in November, of which €12.3 million in urban rehabilitation. Capital transfers amounted to €11 million.

By countries, 18 ‘gold’ visas were granted to the United States last month, followed by the United Kingdom (14), China (13), Brazil (10) and South Africa (10).

In the month under review, 138 residence permits were granted to reunited family members, which in total for the year amounts to 1,341.

The ARI programme turned 10 years old last October (it started in 2012) and its continuation is currently being assessed.

Since the programme was launched, €6.674 billion has been raised. Of this amount, most corresponds to the purchase of real estate, which at the end of last month totalled €5.981 billion.

Of the total amount of real estate purchases, acquisitions for urban rehabilitation corresponded to an accumulated investment of €516 million.

The investment resulting from the transfer of capital amounts to more than €693 million over 10 years.

As regards the ‘golden’ visas granted since their creation, 10,488 were granted for the purchase of real estate (1,445 for urban rehabilitation), 874 for capital transfers and 22 for the creation of new employment.

The ‘golden’ visas granted under the job creation criterion have an inexpressive weight in more than 10 years of the programme.

Since the creation of this instrument, which aims to attract foreign investment, 11,384 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, 1,182 in 2020, 865 in 2021 and 1,130 in 2022.

By nationalities, China leads the way (5,222), followed by Brazil (1,158), Turkey (540), the United States (513) and South Africa (493).

Since the beginning of the programme 18,617 residence permits have been granted to reunited family members.