Gold visas: Chinese investment between 2020 and July totals 433.7 ME

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Chinese investment through ‘gold’ visas totaled 433.7 million euros between 2020 and July this year, with eight visas granted that month, according to SEF data requested by Lusa.

In July, investment raised through the Residence Permit for Investment Activities (ARI) program amounted to 57.2 million euros, 30% more than a year earlier and 27% less than the 79.8 million euros recorded in June.

For the first time since 2020, China is not in the monthly ‘top 5’ for investment by nationality, only by visa.

In July, the USA obtained 16 ‘golden’ visas, the Philippines 13, the UK 10, Brazil and South Africa nine each.

In the case of China, eight ARIs were awarded to Chinese citizens in July, one less than the last country in the monthly top five.

From the year of the pandemic, 2020, until July 2023, China represented an investment of 433.7 million euros.

In July, 61 ARIs were granted under the real estate acquisition criterion, totaling 41 million euros, of which 7.8 million euros (22 ‘gold’ visas) corresponded to purchases for urban rehabilitation.

The capital transfer criterion amounted to 25.1 million euros, out of a total of 65 ARIs awarded.

In the year to date – from October 2012 to last July – 12,497 residence permits were granted, with China leading the way with 5,374, followed by Brazil (1,238), the USA (729), Turkey (598) and South Africa (559).

The total investment amounts to more than 7.2 billion euros, of which 6.378 billion in real estate acquisitions (11.242 ARI), including 644 million euros for urban rehabilitation (1.805 ‘gold’ visas).

The transfer of capital totaled 835.7 million euros, 1,233 visas were granted and job creation was responsible for the granting of 22 ARIs.

On July 6, the government’s proposal to end new residence permits for investment in housing was approved.

The rule repealing ‘gold’ visas was one of the proposals included in the Mais Habitação program and, with the entry into force of the new law, no new applications for ARIs will be accepted, which will not affect the possibility of renewing permits that have already been granted.

Applications for the granting and renewal of residence permits for investment activity remain valid, including those that are “pending prior control procedures at the Municipal Councils” on the date the law comes into force.

Also excluded from the limitation adopted is the granting or renewal of residence permits for family reunification.

Iris Lavan
Iris Lavanhttps://irislavan.com/en/
With a background as a consultant in the medical industry, Iris Lavan brings a wealth of knowledge and expertise to Portugal Pulse. Iris also runs a company in Tel Aviv offering marketing, business development, content creation and public relations services. She holds a degree in economics and management, giving her a solid grounding in business strategy and financial planning. Iris' commitment to Portugal Pulse is reflected not only in her consulting career, but also in her impact on the Portugale media landscape in Israel. She was an interviewer for Hadshot Portugal חדשות פורטוגל, a media outlet that broadcasts news about Portugal in Hebrew, where she provided valuable information on current affairs, healthcare and the economy. Since July 2023, Iris has also been part of the Portugal Pulse team.

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