Investment for golden visas in March down 17% on month, 5.7% on year

  • Lusa
  • 8 April 2022

Investment through golden visas was in March down 5.7% on a year earlier but in the first quarter as a whole it was up 2.0%.

Investment attracted to Portugal through golden visas – fast-track residence permit for investment purposes – was in March down 5.7% on a year earlier but in the first quarter as a whole it was up 2.0%, official figures show.

According to calculations by Lusa based on statistical data from Portugal’s Immigration and Borders Service (SEF), in March the inflow of funds through the Residence Permit for Investment (ARI) programme amounted to €34.6 million, corresponding to a decline of 5.7% from the €36.7 million brought in in March 2021.

The March 2022 marked a drop of more than 17% on the amount that came in in February, which was €42 million.

In the first quarter, investment raised through the ARI scheme totalled €124.7 million, 2.0% more than in the first three months of 2021, which was €122.2 million.

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.

Investment in the purchase of property totalled €25.5 million in March, of which €10.8 million in urban rehabilitation, while for capital transfers the amount exceeded €9 million.

In the 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 €6,224,560,351.18 has come in. Of this amount, €5,604,285,459.59 corresponds to property purchases, including €402,058,997.04 for cases involving urban rehabilitation. Investment resulting from capital transfer totals €620,274,891.59 so far.

So far 10,515 ARI first-order permits have been assigned: 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 261 in 2022.

In the nine years of the programme, 9,780 visas have been granted for property purchases, of which 1,122 involving rehabilitation. There have been 715 visas 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.